Podcast
Questions and Answers
What are the primary reasons for the evolving needs for decision support and analytics in business environments?
What are the primary reasons for the evolving needs for decision support and analytics in business environments?
Which technological method is specifically mentioned as being used in managing big data?
Which technological method is specifically mentioned as being used in managing big data?
What limitation do computerized systems help overcome in human decision-making processes?
What limitation do computerized systems help overcome in human decision-making processes?
What role do analysis tools play in the context of big data?
What role do analysis tools play in the context of big data?
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Which aspect is emphasized as an advantage of using updated communication technologies in business?
Which aspect is emphasized as an advantage of using updated communication technologies in business?
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What is the primary function of a Decision Support System (DSS)?
What is the primary function of a Decision Support System (DSS)?
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Which of the following accurately represents the role of an RDBMS?
Which of the following accurately represents the role of an RDBMS?
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What is the significance of using software as a service (SaaS) in an organization?
What is the significance of using software as a service (SaaS) in an organization?
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Which technologies contribute to managers' ability to analyze and interpret information on-the-go?
Which technologies contribute to managers' ability to analyze and interpret information on-the-go?
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Which of the following data sources is an example of innovative technology in data collection?
Which of the following data sources is an example of innovative technology in data collection?
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Study Notes
Instructor Information
- Instructor: Fathi Alarabi Yosef
- Credentials: PhD, MSc, BSc; Management Sciences
- Email: [email protected]
- Office: B314
- Office hours: Sunday and Tuesday, 12:00 to 13:00
Course Protocol
- Course format: Blended (synchronous and asynchronous)
- Attendance: Required
- Punctuality: Expected
Assessment
- Class participation: 10 marks
- Midterm Exam: 30 marks (date to be announced)
- Quizzes, assignments, projects: 20 marks
- Final Exam: (date to be announced)
- Exam Absenteeism: Policy in place
- Mobile phones: Policy in place
Textbook Information
- Title: Business Intelligence, Analytics, and Data Science: A Managerial Perspective
- Edition: Fourth Edition
- Authors: Ramesh Sharda, Dursun Delen, Efraim Turban
Changing Business Environments and Evolving Needs for Decision Support and Analytics
- Increased hardware, software, and network capabilities are automating decisions.
- Group communication and collaboration are increasing across geographical locations using mobile technology
- Improved data management is enabling more efficient analysis of diverse data sources and formats
Managing Giant Data Warehouses and Big Data
- Large Data Warehouse (DW) with massive datasets from various sources.
- Analysis tools provide better forecasting and quick risk analysis
Revolution of Computerized Decision Support to Analytics/Data Science
- Evolution shows the progression from Decision Support Systems (DSS) through enterprise/executive systems to Business Intelligence (BI) and finally to analytics and Big Data.
- Online Transaction Processing (OLTP) is used for data capture while Online Analytical Processing (OLAP) is used for analysis.
- Flat files vs. Relational Databases: Flat files lack redundancy reduction, while relational databases offer consistency.
Enterprise Resource Planning (ERP) and Software as a Service (SaaS)
- ERP integrates data from all parts of an organization for a common view.
- SaaS delivers software applications over the internet.
Framework for Business Intelligence
- DSS (Decision Support Systems) transition to EIS (Executive Information Systems) and Business Intelligence (BI).
- Broad Definition of BI: a combination of architectures, tools, databases, analytical tools, applications, and methodologies
- Narrow Definition of BI: descriptive analytics tools and techniques (reporting)
Architecture of Business Intelligence (BI)
- Components of BI: Data Warehousing, Business Analytics, Business Process Management (BPM), and User Interface (e.g., Dashboard)
High-Level Architecture of BI
- Business functions within a Business Intelligence (BI) architecture include Data Sources, Data Warehouse Environment, Technical staff, Business Users, Access to data warehouse, and User Interface which includes browser, portal, and dashboard.
Transaction Processing versus Analytic Processing (OLTP vs. OLAP)
- OLTP is real-time data capture, while OLAP is for analysis of historical data.
Three Types of Analytics
- Descriptive: Answering the questions "What happened?", "What is happening?".
- Predictive: Answering the questions "What will happen?", "Why will it happen?".
- Prescriptive: Answering the questions "What should I do?", "Why should I do it?".
Analytics or Data Science?
- Data Analysts perform data compilation, cleaning, reporting and visualization.
- They use tools like Microsoft Excel, Python, SQL, and are involved in Descriptive or Reporting Analytics.
- Data Scientists perform predictive and statistical analysis using advanced tools.
- These often involve data mining, knowledge recovery, and machine learning.
Analytics or Data Science (cont.)
- Analytics are more suited for Business-oriented professionals.
- Big Data is the volume of data that is too much to be processed efficiently by standard analysis.
- Data is collected from different sources including sensors in various applications (i.e IOT), social media, and websites to support BI.
Managing Big Data
- Methods of storing and processing large datasets like Hadoop and Distributed File System (HDFS) are essential for successful use of Big Data
Analytics Ecosystem
- A comprehensive ecosystem involving: Data Infrastructure Providers, Data Management Infrastructure Providers, Data Warehouse Providers, Middleware Providers, Data Service Providers, Analytics Focused Software Developers, Analytics Industry Analysts and Influencers, Academic Institutions, and Certification Agencies, and Analytics User Organizations.
- Each part plays a role in creating, managing, applying, and interpreting the data and providing services.
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Description
Explore the essential concepts of Business Intelligence, Analytics, and Data Science, focusing on their managerial implications. This quiz assesses your understanding of how decision support systems evolve with changing business environments. Join the discussion on the increasing role of technology in automating decisions.
