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Business Intelligence, or BI, has recently become a hot topic in business information technology. Do you know anything about BI? What comes to mind in relation to this term?
BI Fundamentals
Business Transactions
Data Bases
Data Warehouses Data Marts
Data Mining
A collection of information organized in such a way that a computer program can quickly select desired pieces of data. http://www.webopedia.com An electronic filing system Organized by
Fields: a single piece of information Records: one complete set of fields Files: a collection of record
Contain a wide variety of data that present a coherent picture of business conditions at a single point in time. http://www.webopedia.com A database system which contains periodically collected samples or summarized (aggregated) transactional data; e.g., daily totals, or monthly averages Typically a compilation of information from multiple transactional databases
Data mart
A database, or collection of databases, designed to help managers make strategic decisions about their business. http://www.webopedia.com A smaller and more focused form of a data warehouse.
Usually created for a particular department or position A data mart created as a subset of data warehouse data are referred to as a dependent data mart.
The tools and systems that play a key role in the strategic planning process of the corporation. These systems allow a company to gather, store, access and analyze corporate data to aid in decision making . http://www.webopedia.com Common applications:
customer profiling customer support market research market segmentation product profitability statistical analysis inventory and distribution analysis
Data mining
A class of database applications that look for patterns in data to be used to predict and direct future behavior. Increasingly being used by marketers to find consumer data through the web and store purchases.
The BI Chain
Transactions
Database info is periodically summarized (aggregated) and put into the data warehouse
Data mining takes place to identify useful information through a search for patterns
Summary data are further condensed into a data mart for specific department or executives
Statistics
Patterns continued
Combinatorial
If-then relationships
Example
The Shakeout
Compares the completeness of a companys vision to its ability to execute that vision.
Cognos
BI software company (most recently Cognos 8) Used for reporting, analysis, scorecarding, dashboards, business event management, and data integration
Software
Cognos
Multiple Solutions
Industry Banking Education Defense Government Department Executive Management Finance Marketing
Businesses The Government ? ? What are some ethical implications of the use of BI?
Sources