Business Intelligence Concepts and Trends
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What is a significant change in the evolution of Business Intelligence that occurred in the 2000s?

  • Development of Data Warehousing
  • Use of Dashboards and Scorecards (correct)
  • Introduction of Executive Information Systems
  • Implementation of Decision Support Systems

    • Which term best describes the concept that provides actionable insight derived from information?

  • Knowledge (correct)
  • Information
  • Wisdom
  • Data

    • Which of the following components is part of the Business Intelligence (BI) process?

  • Cloud Computing
  • Performance Management (correct)
  • Big Data
  • Transactional Processing

    • What was the focus of Business Intelligence systems in the 1990s?

    <p>Business Intelligence and Data Warehousing</p> Signup and view all the answers

    What does the acronym DIKW stand for in the context of Data Science?

    <p>Data, Information, Knowledge, Wisdom</p> Signup and view all the answers

    Which company had the highest market share in the BI market in 2013?

    <p>SAP</p> Signup and view all the answers

    What was the revenue growth percentage for Microsoft in 2013?

    <p>15.9%</p> Signup and view all the answers

    Which position is NOT typically associated with BI careers?

    <p>Financial managers</p> Signup and view all the answers

    What revenue did the 'Others' category achieve in the BI market in 2013?

    <p>4,422.0 million</p> Signup and view all the answers

    Which of the following is included in the 'big four' BI vendors?

    <p>SAP</p> Signup and view all the answers

    What challenge is primarily associated with information overloading?

    <p>Difficulty in organizing data for effective access</p> Signup and view all the answers

    What is a characteristic of structured data?

    <p>Can be categorized and stored consistently</p> Signup and view all the answers

    Which of the following is an example of unstructured data?

    <p>Video files</p> Signup and view all the answers

    What type of data is referred to as numerical data?

    <p>Data expressed in numbers</p> Signup and view all the answers

    What kind of data is primarily stored in transactional systems?

    <p>Internal data</p> Signup and view all the answers

    External data can provide insights about which of the following?

    <p>Market share and economic indicators</p> Signup and view all the answers

    What characteristic defines qualitative data?

    <p>Described in natural language</p> Signup and view all the answers

    What problem does 'spreadmart' refer to in data management?

    <p>Data being scattered across multiple systems</p> Signup and view all the answers

    What is the main purpose of ETL in data processing?

    <p>To perform extraction, transformation, and loading of data</p> Signup and view all the answers

    Which of the following best describes the 'Transformation' step in ETL?

    <p>Cleaning and structuring data for the destination format</p> Signup and view all the answers

    Who are considered super or power users in BI applications?

    <p>Users who have advanced skills and access to deeper analytics</p> Signup and view all the answers

    Which application area focuses on analyzing customer behavior?

    <p>Marketing and sales</p> Signup and view all the answers

    What type of data formats do operational databases commonly use?

    <p>Spreadsheets, text, CSV, and PDFs</p> Signup and view all the answers

    Which of the following is NOT a component of BI reporting?

    <p>Accessing external data sources</p> Signup and view all the answers

    What is a key use of BI in healthcare management?

    <p>Collaborative filtering</p> Signup and view all the answers

    Which of the following describes distributed data?

    <p>Data spread across multiple locations or systems</p> Signup and view all the answers

    What is the primary function of Business Intelligence?

    <p>To enable strategic decision making</p> Signup and view all the answers

    Which of the following statements best defines Business Intelligence?

    <p>A combination of processes, methods, and technologies for data analysis</p> Signup and view all the answers

    What is the difference between transactional processing and analytical processing?

    <p>Transactional processing is concerned with operational tasks, while analytical processing supports decision making</p> Signup and view all the answers

    How does Business Intelligence relate to knowledge management?

    <p>BI encompasses analytical data processing, while knowledge management includes human experience as a source of intelligence</p> Signup and view all the answers

    What is typically involved in the creation of a Business Intelligence system?

    <p>A combination of data warehouses and data marts for storing data</p> Signup and view all the answers

    Which tool is an example of a front-end analytical tool in Business Intelligence?

    <p>Oracle’s Sales Analyzer</p> Signup and view all the answers

    What is the role of a data warehouse in Business Intelligence?

    <p>To store and organize large volumes of data for analysis</p> Signup and view all the answers

    Which statement accurately reflects a key aspect of Business Intelligence?

    <p>It involves transforming raw data into meaningful information</p> Signup and view all the answers

    What is an essential technical knowledge required for Business Intelligence?

    <p>Knowledge of database systems and data warehousing technologies</p> Signup and view all the answers

    Which ability is important for translating business requirements into technical specifications?

    <p>Capturing and documenting the business requirements for BI solution</p> Signup and view all the answers

    Which of the following is NOT a critical skill for effective communication in a business intelligence context?

    <p>Ability to negotiate business contracts</p> Signup and view all the answers

    What is one of the roles of a professional working in Business Intelligence?

    <p>Training business users in information management</p> Signup and view all the answers

    Which of the following describes a key aspect of the BI project lifecycle?

    <p>Defining project scope and timelines</p> Signup and view all the answers

    What does knowledge of data and information policies ensure in Business Intelligence?

    <p>Adhering to security requirements and regulations</p> Signup and view all the answers

    Effective communication within a business intelligence framework primarily involves which skill?

    <p>Consultation with business users</p> Signup and view all the answers

    What should be the focus when managing database system implementation in BI?

    <p>Managing integration, implementation, and testing</p> Signup and view all the answers

    Study Notes

    Lecture 1: Business Intelligence Introduction

    • OSCM 603: Business Intelligence
    • Lecture 1, Introduction
    • Instructor: Prof. Awuni Emmanuel
    • Topics include: BI process, system components, technologies and applications, Types of Data, BI industry, market and career overview
    • Business Intelligence is a set of methods, processes, architectures, applications and technologies utilized to gather and transform raw data into useful, meaningful information.
      • This information is used to furnish more strategic, tactical and operational insights for a business. This drives business operations and growth.
    • Data is the raw elements that form the foundation of information, knowledge and wisdom.
    • Information is the result of collecting and organizing data in a structured context.
    • Knowledge is the understanding of information. This allows for useful and actionable data that leads to knowledge.
    • Wisdom is the best practice in decision making.
      • This is the most effective way to employ information, knowledge and data for sound decision making.

    Overview

    • BI process, system components, technologies and applications
    • Types of Data
    • BI industry, market, and career overview

    Introduction: Evolution of BI

    • 1980s: Search for perfect “business insight system”
      • Executive information systems (EIS), Decision support systems (DSS)
    • 1990s:
      • Data warehousing (DW), Business intelligence (BI)
    • 2000s:
      • Dashboards and scorecards, Performance management
    • 2010+:
      • Big data, Mobile BI, Personal BI, etc.
    • Capabilities increased with new iterations.
    • Enterprises became sophisticated; computational and analytical needs increased and computer hardware and software matured.

    Data Processing Types

    • Transactional Processing: Focuses on routine processing, modification, insertion, deletion and transmission of data.
    • Analytical Processing: Focuses on reporting, analysis, transformation and decision support focused on reporting.

    Business Intelligence

    • One ultimate use of data gathered and processed in the data life cycle—to drive business intelligence.
    • This is about the creation or use of a data warehouse or data mart for data storage.
    • Tools like Oracle's Sales Analyzer, Financial Analyst, or Micro Strategy's Web are used.
    • These tools enable access to data, enable querying, support ad-hoc reports, and support the examination of scenarios and the creation of CRM activities, and strategic pricing strategies.

    How Business Intelligence Works

    • Begins with raw data stored in corporate databases.
      • Example: a national retail chain's data about inventory, customer information, promotions, and sales numbers.
    • Information may be scattered; BI software integrates this data.
    • Data is placed into a data warehouse (or mart).
    • Tables are linked, and data cubes are formed (linked to sales numbers and customer databases, enabling deep analysis).

    BI System at a Glance

    • Operational systems
    • Data warehouse
    • ETL tools
    • Logistics
    • Marketing
    • Performance evaluation
    • Multidimensional cubes
    • Exploratory data analysis
    • Time series analysis

    Assignment

    • Data warehouse
    • Data Analytics
    • Data mining
    • Data science

    Next Week: Data Warehousing

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    OSCM 603: Business Intelligence Introduction Lecture 1 PDF

    Description

    This quiz explores key concepts and trends in Business Intelligence, particularly focusing on developments from the 1990s to the 2000s. Participants will answer questions related to BI processes, data types, and market dynamics. Test your knowledge on pivotal changes and terminology in the field of Business Intelligence.

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