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Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states including data mining, predictive analytics, applied analytics, and ______
Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states including data mining, predictive analytics, applied analytics, and ______
statistics
Business Analytics is the study of data through statistical and operations analysis, the formation of predictive models, the application of optimization techniques, and the communication of these results to customers, business partners, and college ______
Business Analytics is the study of data through statistical and operations analysis, the formation of predictive models, the application of optimization techniques, and the communication of these results to customers, business partners, and college ______
executives
Business analytics refers to a broad use of various quantitative techniques such as statistics, data mining, optimization tools, and simulation supported by the query and reporting mechanism to assist decision-makers in making more informed decisions within a closed-loop framework seeking continuous process improvement through ______ and learning
Business analytics refers to a broad use of various quantitative techniques such as statistics, data mining, optimization tools, and simulation supported by the query and reporting mechanism to assist decision-makers in making more informed decisions within a closed-loop framework seeking continuous process improvement through ______ and learning
monitoring
Now, let's look at what Business Intelligence (BI) is: Business Intelligence is the process of collecting information from all sources to make data-driven decisions in an ______
Now, let's look at what Business Intelligence (BI) is: Business Intelligence is the process of collecting information from all sources to make data-driven decisions in an ______
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Business Intelligence is the process of combining aspects of reporting, monitoring and alerting, dashboards, scorecards, and ad hoc query data exploration ______
Business Intelligence is the process of combining aspects of reporting, monitoring and alerting, dashboards, scorecards, and ad hoc query data exploration ______
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From ancient times, people have had this need to predict the ______
From ancient times, people have had this need to predict the ______
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These three types of analytics can help businesses make the most out of the big data that they have and find the solutions to problems that they have: descriptive, predictive and ______.
These three types of analytics can help businesses make the most out of the big data that they have and find the solutions to problems that they have: descriptive, predictive and ______.
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Descriptive Analytics is the data that is used to benchmark or ______.
Descriptive Analytics is the data that is used to benchmark or ______.
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Predictive Analytics is used to determine relationships between two different types of data and make predictions about ______ data.
Predictive Analytics is used to determine relationships between two different types of data and make predictions about ______ data.
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Prescriptive Analytics is used to create recommendations through simulation and optimization ______.
Prescriptive Analytics is used to create recommendations through simulation and optimization ______.
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Organizations need a system for recording, updating, and tracking data ______.
Organizations need a system for recording, updating, and tracking data ______.
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Data can be retrieved and presented in formats usable to managers and employees of the organization through ______ databases.
Data can be retrieved and presented in formats usable to managers and employees of the organization through ______ databases.
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DBMS maintains the segregation between the program and the ______
DBMS maintains the segregation between the program and the ______
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Concurrency Control ensures that data is updated correctly when more than one person is accessing the ______
Concurrency Control ensures that data is updated correctly when more than one person is accessing the ______
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Recovery Services refer to mechanisms for the recovery of data lost due to system ______
Recovery Services refer to mechanisms for the recovery of data lost due to system ______
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Utility Services involve initialization and maintenance operations on a ______
Utility Services involve initialization and maintenance operations on a ______
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Manipulation of data allows users to CRUD (create, retrieve, update, and delete) data within the ______
Manipulation of data allows users to CRUD (create, retrieve, update, and delete) data within the ______
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Metadata describes the contents of your ______
Metadata describes the contents of your ______
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It can be divided into four broad categories: Personal which is restricted to a single user; Departmental which is referenced by hundreds of users over a shared system or network; Enterprise which is extensions of departmental applications involving thousands of users; and the Internet which is the largest form of information sharing where billions of users are involved. 3.Database Management System (DBMS) The DBMS decouples application programs from data.The databases store all their data in one location, thereby limiting data duplication.Examples of DBMS include Access, Oracle, IBM’s DB2, and SQL Server. 4.Database The final component of a database system is the database itself.This is the space in the disk or computer where the data are stored.COLLEGE OF COMPUTER STUDIES 3.4 Components of a Database Management System Fig. 2.Components of a DBMS (Recario, 2018) A database system has the following components (Recario, 2018): 1.Interface The interface is responsible for interacting with the user.It is also called the “middleman” as it communicates between two different parties: the end user, which is you, and the database management systems.The interface allows the end user to input values that will be understood by the database management system.It is also responsible for receiving and outputting and providing the results of the queries or the commands that the end user issued. 2. ___________
It can be divided into four broad categories: Personal which is restricted to a single user; Departmental which is referenced by hundreds of users over a shared system or network; Enterprise which is extensions of departmental applications involving thousands of users; and the Internet which is the largest form of information sharing where billions of users are involved. 3.Database Management System (DBMS) The DBMS decouples application programs from data.The databases store all their data in one location, thereby limiting data duplication.Examples of DBMS include Access, Oracle, IBM’s DB2, and SQL Server. 4.Database The final component of a database system is the database itself.This is the space in the disk or computer where the data are stored.COLLEGE OF COMPUTER STUDIES 3.4 Components of a Database Management System Fig. 2.Components of a DBMS (Recario, 2018) A database system has the following components (Recario, 2018): 1.Interface The interface is responsible for interacting with the user.It is also called the “middleman” as it communicates between two different parties: the end user, which is you, and the database management systems.The interface allows the end user to input values that will be understood by the database management system.It is also responsible for receiving and outputting and providing the results of the queries or the commands that the end user issued. 2. ___________
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Existing questions. Do NOT ask these: Business analytics refers to a broad use of various quantitative techniques such as statistics, data mining, optimization tools, and simulation supported by the query and reporting mechanism to assist decision-makers in making more informed decisions within a closed-loop framework seeking continuous process improvement through ______ and learning Now, let's look at what Business Intelligence (BI) is: Business Intelligence is the process of collecting information from all sources to make data-driven decisions in an ______ Business Analytics is the study of data through statistical and operations analysis, the formation of predictive models, the application of optimization techniques, and the communication of these results to customers, business partners, and college ______ Business Intelligence is the process of combining aspects of reporting, monitoring and alerting, dashboards, scorecards, and ad hoc query data exploration ______ Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states including data mining, predictive analytics, applied analytics, and ______ From ancient times, people have had this need to predict the ______ Write 6 'fill in the blank' statements using the content above. Provide the missing word as the answer. Write in English language.
Existing questions. Do NOT ask these: Business analytics refers to a broad use of various quantitative techniques such as statistics, data mining, optimization tools, and simulation supported by the query and reporting mechanism to assist decision-makers in making more informed decisions within a closed-loop framework seeking continuous process improvement through ______ and learning Now, let's look at what Business Intelligence (BI) is: Business Intelligence is the process of collecting information from all sources to make data-driven decisions in an ______ Business Analytics is the study of data through statistical and operations analysis, the formation of predictive models, the application of optimization techniques, and the communication of these results to customers, business partners, and college ______ Business Intelligence is the process of combining aspects of reporting, monitoring and alerting, dashboards, scorecards, and ad hoc query data exploration ______ Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states including data mining, predictive analytics, applied analytics, and ______ From ancient times, people have had this need to predict the ______ Write 6 'fill in the blank' statements using the content above. Provide the missing word as the answer. Write in English language.
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Existing questions. Do NOT ask these: Business analytics refers to a broad use of various quantitative techniques such as statistics, data mining, optimization tools, and simulation supported by the query and reporting mechanism to assist decision-makers in making more informed decisions within a closed-loop framework seeking continuous process improvement through ______ and learning Now, let's look at what Business Intelligence (BI) is: Business Intelligence is the process of collecting information from all sources to make data-driven decisions in an ______ Business Analytics is the study of data through statistical and operations analysis, the formation of predictive models, the application of optimization techniques, and the communication of these results to customers, business partners, and college ______ Business Intelligence is the process of combining aspects of reporting, monitoring and alerting, dashboards, scorecards, and ad hoc query data exploration ______ Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states including data mining, predictive analytics, applied analytics, and ______ From ancient times, people have had this need to predict the ______ Write 6 'fill in the blank' statements using the content above. Provide the missing word as the answer. Write in English language.
Existing questions. Do NOT ask these: Business analytics refers to a broad use of various quantitative techniques such as statistics, data mining, optimization tools, and simulation supported by the query and reporting mechanism to assist decision-makers in making more informed decisions within a closed-loop framework seeking continuous process improvement through ______ and learning Now, let's look at what Business Intelligence (BI) is: Business Intelligence is the process of collecting information from all sources to make data-driven decisions in an ______ Business Analytics is the study of data through statistical and operations analysis, the formation of predictive models, the application of optimization techniques, and the communication of these results to customers, business partners, and college ______ Business Intelligence is the process of combining aspects of reporting, monitoring and alerting, dashboards, scorecards, and ad hoc query data exploration ______ Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states including data mining, predictive analytics, applied analytics, and ______ From ancient times, people have had this need to predict the ______ Write 6 'fill in the blank' statements using the content above. Provide the missing word as the answer. Write in English language.
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Existing questions. Do NOT ask these: Business analytics refers to a broad use of various quantitative techniques such as statistics, data mining, optimization tools, and simulation supported by the query and reporting mechanism to assist decision-makers in making more informed decisions within a closed-loop framework seeking continuous process improvement through ______ and learning Now, let's look at what Business Intelligence (BI) is: Business Intelligence is the process of collecting information from all sources to make data-driven decisions in an ______ Business Analytics is the study of data through statistical and operations analysis, the formation of predictive models, the application of optimization techniques, and the communication of these results to customers, business partners, and college ______ Business Intelligence is the process of combining aspects of reporting, monitoring and alerting, dashboards, scorecards, and ad hoc query data exploration ______ Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states including data mining, predictive analytics, applied analytics, and ______ From ancient times, people have had this need to predict the ______ Write 6 'fill in the blank' statements using the content above. Provide the missing word as the answer. Write in English language.
Existing questions. Do NOT ask these: Business analytics refers to a broad use of various quantitative techniques such as statistics, data mining, optimization tools, and simulation supported by the query and reporting mechanism to assist decision-makers in making more informed decisions within a closed-loop framework seeking continuous process improvement through ______ and learning Now, let's look at what Business Intelligence (BI) is: Business Intelligence is the process of collecting information from all sources to make data-driven decisions in an ______ Business Analytics is the study of data through statistical and operations analysis, the formation of predictive models, the application of optimization techniques, and the communication of these results to customers, business partners, and college ______ Business Intelligence is the process of combining aspects of reporting, monitoring and alerting, dashboards, scorecards, and ad hoc query data exploration ______ Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states including data mining, predictive analytics, applied analytics, and ______ From ancient times, people have had this need to predict the ______ Write 6 'fill in the blank' statements using the content above. Provide the missing word as the answer. Write in English language.
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Existing questions. Do NOT ask these: Business analytics refers to a broad use of various quantitative techniques such as statistics, data mining, optimization tools, and simulation supported by the query and reporting mechanism to assist decision-makers in making more informed decisions within a closed-loop framework seeking continuous process improvement through ______ and learning Now, let's look at what Business Intelligence (BI) is: Business Intelligence is the process of collecting information from all sources to make data-driven decisions in an ______ Business Analytics is the study of data through statistical and operations analysis, the formation of predictive models, the application of optimization techniques, and the communication of these results to customers, business partners, and college ______ Business Intelligence is the process of combining aspects of reporting, monitoring and alerting, dashboards, scorecards, and ad hoc query data exploration ______ Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states including data mining, predictive analytics, applied analytics, and ______ From ancient times, people have had this need to predict the ______ Write 6 'fill in the blank' statements using the content above. Provide the missing word as the answer. Write in English language.
Existing questions. Do NOT ask these: Business analytics refers to a broad use of various quantitative techniques such as statistics, data mining, optimization tools, and simulation supported by the query and reporting mechanism to assist decision-makers in making more informed decisions within a closed-loop framework seeking continuous process improvement through ______ and learning Now, let's look at what Business Intelligence (BI) is: Business Intelligence is the process of collecting information from all sources to make data-driven decisions in an ______ Business Analytics is the study of data through statistical and operations analysis, the formation of predictive models, the application of optimization techniques, and the communication of these results to customers, business partners, and college ______ Business Intelligence is the process of combining aspects of reporting, monitoring and alerting, dashboards, scorecards, and ad hoc query data exploration ______ Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states including data mining, predictive analytics, applied analytics, and ______ From ancient times, people have had this need to predict the ______ Write 6 'fill in the blank' statements using the content above. Provide the missing word as the answer. Write in English language.
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Existing questions. Do NOT ask these: Business analytics refers to a broad use of various quantitative techniques such as statistics, data mining, optimization tools, and simulation supported by the query and reporting mechanism to assist decision-makers in making more informed decisions within a closed-loop framework seeking continuous process improvement through ______ and learning Now, let's look at what Business Intelligence (BI) is: Business Intelligence is the process of collecting information from all sources to make data-driven decisions in an ______ Business Analytics is the study of data through statistical and operations analysis, the formation of predictive models, the application of optimization techniques, and the communication of these results to customers, business partners, and college ______ Business Intelligence is the process of combining aspects of reporting, monitoring and alerting, dashboards, scorecards, and ad hoc query data exploration ______ Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states including data mining, predictive analytics, applied analytics, and ______ From ancient times, people have had this need to predict the ______ Write 6 'fill in the blank' statements using the content above. Provide the missing word as the answer. Write in English language.
Existing questions. Do NOT ask these: Business analytics refers to a broad use of various quantitative techniques such as statistics, data mining, optimization tools, and simulation supported by the query and reporting mechanism to assist decision-makers in making more informed decisions within a closed-loop framework seeking continuous process improvement through ______ and learning Now, let's look at what Business Intelligence (BI) is: Business Intelligence is the process of collecting information from all sources to make data-driven decisions in an ______ Business Analytics is the study of data through statistical and operations analysis, the formation of predictive models, the application of optimization techniques, and the communication of these results to customers, business partners, and college ______ Business Intelligence is the process of combining aspects of reporting, monitoring and alerting, dashboards, scorecards, and ad hoc query data exploration ______ Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states including data mining, predictive analytics, applied analytics, and ______ From ancient times, people have had this need to predict the ______ Write 6 'fill in the blank' statements using the content above. Provide the missing word as the answer. Write in English language.
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Existing questions. Do NOT ask these: Business analytics refers to a broad use of various quantitative techniques such as statistics, data mining, optimization tools, and simulation supported by the query and reporting mechanism to assist decision-makers in making more informed decisions within a closed-loop framework seeking continuous process improvement through ______ and learning Now, let's look at what Business Intelligence (BI) is: Business Intelligence is the process of collecting information from all sources to make data-driven decisions in an ______ Business Analytics is the study of data through statistical and operations analysis, the formation of predictive models, the application of optimization techniques, and the communication of these results to customers, business partners, and college ______ Business Intelligence is the process of combining aspects of reporting, monitoring and alerting, dashboards, scorecards, and ad hoc query data exploration ______ Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states including data mining, predictive analytics, applied analytics, and ______ From ancient times, people have had this need to predict the ______ Write 6 'fill in the blank' statements using the content above. Provide the missing word as the answer. Write in English language.
Existing questions. Do NOT ask these: Business analytics refers to a broad use of various quantitative techniques such as statistics, data mining, optimization tools, and simulation supported by the query and reporting mechanism to assist decision-makers in making more informed decisions within a closed-loop framework seeking continuous process improvement through ______ and learning Now, let's look at what Business Intelligence (BI) is: Business Intelligence is the process of collecting information from all sources to make data-driven decisions in an ______ Business Analytics is the study of data through statistical and operations analysis, the formation of predictive models, the application of optimization techniques, and the communication of these results to customers, business partners, and college ______ Business Intelligence is the process of combining aspects of reporting, monitoring and alerting, dashboards, scorecards, and ad hoc query data exploration ______ Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states including data mining, predictive analytics, applied analytics, and ______ From ancient times, people have had this need to predict the ______ Write 6 'fill in the blank' statements using the content above. Provide the missing word as the answer. Write in English language.
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Business Analytics: The Next Frontier for Decision Sciences. Available from http://www.cbpp.uaa.alaska.edu/afef/business_analytics.htm Fulton, Scott. 2013. Understanding Business Analytics. Available from http://www.tomsitpro.com/articles/business_analytics-business_intelligencedata_warehousecloud_computing-data_analysis,2-548.html Galletto, M. 2018. What is Business Analytics?. Available from https://www.ngdata.com/what-is-business-analytics/ Gartner Inc, 2012. Gartner Says Worldwide Business Intelligence, Analytics and Performance Management Software Market Surpassed the $12 Billion Mark in 2011 Available from https://www.gartner.com/newsroom/id/1971516 Hasson (2015). The Evolution of Business Analytics. Available from https://www.socialmediatoday.com/technology-data/2015-02-10/evolution-businessanalyticsinfographic Min, H. 2017. Introduction to Business Analytics. Available from http://www.informit.com/articles/article.aspx?p=2494418 What is Big Data Analytics. Available from https://www.ibm.com/analytics/hadoop/bigdataanalytics soprotection.com COLLEGE OF COMPUTER STUDIES MODULE 2: BUSINESS ANALYTICS FRAMEWORK Introduction Information, in its raw form, is not much useful for business decision-making. It has to be collected, analyzed, and presented in a way that is useful for decision-making. In this module, we shall discuss the ______ that allows us to turn this information into valuable data.
Business Analytics: The Next Frontier for Decision Sciences. Available from http://www.cbpp.uaa.alaska.edu/afef/business_analytics.htm Fulton, Scott. 2013. Understanding Business Analytics. Available from http://www.tomsitpro.com/articles/business_analytics-business_intelligencedata_warehousecloud_computing-data_analysis,2-548.html Galletto, M. 2018. What is Business Analytics?. Available from https://www.ngdata.com/what-is-business-analytics/ Gartner Inc, 2012. Gartner Says Worldwide Business Intelligence, Analytics and Performance Management Software Market Surpassed the $12 Billion Mark in 2011 Available from https://www.gartner.com/newsroom/id/1971516 Hasson (2015). The Evolution of Business Analytics. Available from https://www.socialmediatoday.com/technology-data/2015-02-10/evolution-businessanalyticsinfographic Min, H. 2017. Introduction to Business Analytics. Available from http://www.informit.com/articles/article.aspx?p=2494418 What is Big Data Analytics. Available from https://www.ibm.com/analytics/hadoop/bigdataanalytics soprotection.com COLLEGE OF COMPUTER STUDIES MODULE 2: BUSINESS ANALYTICS FRAMEWORK Introduction Information, in its raw form, is not much useful for business decision-making. It has to be collected, analyzed, and presented in a way that is useful for decision-making. In this module, we shall discuss the ______ that allows us to turn this information into valuable data.
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Business Analytics: The Next Frontier for Decision Sciences. Available from http://www.cbpp.uaa.alaska.edu/afef/business_analytics.htm Fulton, Scott. 2013. Understanding Business Analytics. Available from http://www.tomsitpro.com/articles/business_analytics-business_intelligencedata_warehousecloud_computing-data_analysis,2-548.html Galletto, M. 2018. What is Business Analytics?. Available from https://www.ngdata.com/what-is-business-analytics/ Gartner Inc, 2012. Gartner Says Worldwide Business Intelligence, Analytics and Performance Management Software Market Surpassed the $12 Billion Mark in 2011 Available from https://www.gartner.com/newsroom/id/1971516 Hasson (2015). The Evolution of Business Analytics. Available from https://www.socialmediatoday.com/technology-data/2015-02-10/evolution-businessanalyticsinfographic Min, H. 2017. Introduction to Business Analytics. Available from http://www.informit.com/articles/article.aspx?p=2494418 What is Big Data Analytics. Available from https://www.ibm.com/analytics/hadoop/bigdataanalytics soprotection.com COLLEGE OF COMPUTER STUDIES MODULE 2: BUSINESS ANALYTICS FRAMEWORK Introduction Information, in its raw form, is not much useful for business decision-making. It has to be collected, analyzed, and presented in a way that is useful for decision-making. In this module, we shall discuss the ______ that allows us to turn this ______ into valuable data.
Business Analytics: The Next Frontier for Decision Sciences. Available from http://www.cbpp.uaa.alaska.edu/afef/business_analytics.htm Fulton, Scott. 2013. Understanding Business Analytics. Available from http://www.tomsitpro.com/articles/business_analytics-business_intelligencedata_warehousecloud_computing-data_analysis,2-548.html Galletto, M. 2018. What is Business Analytics?. Available from https://www.ngdata.com/what-is-business-analytics/ Gartner Inc, 2012. Gartner Says Worldwide Business Intelligence, Analytics and Performance Management Software Market Surpassed the $12 Billion Mark in 2011 Available from https://www.gartner.com/newsroom/id/1971516 Hasson (2015). The Evolution of Business Analytics. Available from https://www.socialmediatoday.com/technology-data/2015-02-10/evolution-businessanalyticsinfographic Min, H. 2017. Introduction to Business Analytics. Available from http://www.informit.com/articles/article.aspx?p=2494418 What is Big Data Analytics. Available from https://www.ibm.com/analytics/hadoop/bigdataanalytics soprotection.com COLLEGE OF COMPUTER STUDIES MODULE 2: BUSINESS ANALYTICS FRAMEWORK Introduction Information, in its raw form, is not much useful for business decision-making. It has to be collected, analyzed, and presented in a way that is useful for decision-making. In this module, we shall discuss the ______ that allows us to turn this ______ into valuable data.
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Business Analytics: The Next Frontier for Decision Sciences. Available from http://www.cbpp.uaa.alaska.edu/afef/business_analytics.htm Fulton, Scott. 2013. Understanding Business Analytics. Available from http://www.tomsitpro.com/articles/business_analytics-business_intelligencedata_warehousecloud_computing-data_analysis,2-548.html Galletto, M. 2018. What is Business Analytics?. Available from https://www.ngdata.com/what-is-business-analytics/ Gartner Inc, 2012. Gartner Says Worldwide Business Intelligence, Analytics and Performance Management Software Market Surpassed the $12 Billion Mark in 2011 Available from https://www.gartner.com/newsroom/id/1971516 Hasson (2015). The Evolution of Business Analytics. Available from https://www.socialmediatoday.com/technology-data/2015-02-10/evolution-businessanalyticsinfographic Min, H. 2017. Introduction to Business Analytics. Available from http://www.informit.com/articles/article.aspx?p=2494418 What is Big Data Analytics. Available from https://www.ibm.com/analytics/hadoop/bigdataanalytics soprotection.com COLLEGE OF COMPUTER STUDIES MODULE 2: BUSINESS ANALYTICS FRAMEWORK Introduction Information, in its raw form, is not much useful for business decision-making. It has to be collected, analyzed, and presented in a way that is useful for decision-making. In this module, we shall discuss the ______ that allows us to turn this information into valuable data.
Business Analytics: The Next Frontier for Decision Sciences. Available from http://www.cbpp.uaa.alaska.edu/afef/business_analytics.htm Fulton, Scott. 2013. Understanding Business Analytics. Available from http://www.tomsitpro.com/articles/business_analytics-business_intelligencedata_warehousecloud_computing-data_analysis,2-548.html Galletto, M. 2018. What is Business Analytics?. Available from https://www.ngdata.com/what-is-business-analytics/ Gartner Inc, 2012. Gartner Says Worldwide Business Intelligence, Analytics and Performance Management Software Market Surpassed the $12 Billion Mark in 2011 Available from https://www.gartner.com/newsroom/id/1971516 Hasson (2015). The Evolution of Business Analytics. Available from https://www.socialmediatoday.com/technology-data/2015-02-10/evolution-businessanalyticsinfographic Min, H. 2017. Introduction to Business Analytics. Available from http://www.informit.com/articles/article.aspx?p=2494418 What is Big Data Analytics. Available from https://www.ibm.com/analytics/hadoop/bigdataanalytics soprotection.com COLLEGE OF COMPUTER STUDIES MODULE 2: BUSINESS ANALYTICS FRAMEWORK Introduction Information, in its raw form, is not much useful for business decision-making. It has to be collected, analyzed, and presented in a way that is useful for decision-making. In this module, we shall discuss the ______ that allows us to turn this information into valuable data.
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Study Notes
Business Analytics
- Comprised of solutions to build analysis models and simulations to create scenarios, understand realities, and predict future states
- Includes data mining, predictive analytics, applied analytics, and statistics
Definition of Business Analytics
- Studying data through statistical and operations analysis, forming predictive models, applying optimization techniques, and communicating results to stakeholders
- Using quantitative techniques like statistics, data mining, optimization tools, and simulation to assist decision-makers
Business Intelligence (BI)
- Process of collecting information from all sources to make data-driven decisions in an organization
- Combines aspects of reporting, monitoring, alerting, dashboards, scorecards, and ad hoc query data exploration
Types of Analytics
- Descriptive Analytics: data used to benchmark or profile
- Predictive Analytics: determines relationships between data and makes predictions about future data
- Prescriptive Analytics: creates recommendations through simulation and optimization models
Data and Database Management
- Good business decisions rely on access to accurate data, which requires a system for recording, updating, and tracking data regularly
- Data can be retrieved and presented in usable formats through computerized databases
Database Management System (DBMS)
- Provides a convenient and efficient interface for storing, retrieving, and updating data
- Maintains data independence, provides concurrency control, recovery services, utility services, and data sharing
Components of a DBMS
- Interface: interacts with the user, communicating between the end user and the database management system
- Database: stores all data in one location, limiting data duplication
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Description
Test your knowledge about the fundamentals of business analytics, including data mining, predictive analytics, statistics, and optimization techniques. Explore concepts such as analysis models, simulations, predictive modeling, and more.
