Introduction to Business Intelligence (OSCM 603)
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Questions and Answers

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

SAP

What percentage market share did Oracle hold in the BI market in 2013?

13.9%

Name two typical job positions in the Business Intelligence field.

BI solution architects and business analysts

What was the total revenue for all BI companies combined in 2013?

<p>$14,368.0 million</p> Signup and view all the answers

Identify one of the mega-vendors listed in the Gartner Magic Quadrant for BI.

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

What are the main components of the Business Intelligence process?

<p>The main components include data collection, data storage, data analysis, and information dissemination.</p> Signup and view all the answers

How has Business Intelligence evolved from the 1980s to the present?

<p>Business Intelligence has evolved from Executive Information Systems and Decision Support Systems in the 1980s to incorporate big data and mobile BI in the 2010s.</p> Signup and view all the answers

Define the difference between data, information, and knowledge in the context of Business Intelligence.

<p>Data consists of raw facts, information is organized data that provides context, and knowledge is understanding and insight derived from information.</p> Signup and view all the answers

What is the significance of dashboards and scorecards in Business Intelligence?

<p>Dashboards and scorecards are significant as they provide a visual display of key performance indicators and metrics for effective performance management.</p> Signup and view all the answers

What major technologies are associated with modern Business Intelligence, particularly from the 2010s onward?

<p>Major technologies include big data analytics, mobile BI applications, and personal BI solutions.</p> Signup and view all the answers

What is a key responsibility in managing database systems for business intelligence?

<p>Integrating, implementing, and testing database systems is a key responsibility.</p> Signup and view all the answers

How can business requirements be translated into a BI solution?

<p>By capturing and documenting business requirements and then converting them into technical requirements.</p> Signup and view all the answers

What role does effective communication play in business intelligence?

<p>Effective communication facilitates understanding between business users and technical specialists.</p> Signup and view all the answers

What is a fundamental skill required for managing relational databases?

<p>The ability to create complex reports is fundamental for managing relational databases.</p> Signup and view all the answers

Which organization is recognized as a valuable resource for data warehousing education?

<p>The Data Warehousing Institute is recognized as a valuable resource.</p> Signup and view all the answers

Name one legal consideration when implementing data policies in business intelligence.

<p>Adhering to state and federal regulations is a critical legal consideration.</p> Signup and view all the answers

What is the importance of understanding the flow of information in an organization?

<p>Understanding information flow is crucial for optimizing business processes and data usage.</p> Signup and view all the answers

What is the primary purpose of training business users in information management?

<p>To empower them to utilize data effectively in their respective roles.</p> Signup and view all the answers

What is Business Intelligence (BI) primarily used for?

<p>BI is primarily used for gathering and transforming raw data into meaningful information to support decision making.</p> Signup and view all the answers

What are the two types of information processing mentioned in relation to BI?

<p>The two types are transactional processing and analytical processing.</p> Signup and view all the answers

How does BI relate to knowledge management?

<p>BI is related to knowledge management as it encompasses both analytical data processing and human experience or tacit knowledge.</p> Signup and view all the answers

What is the role of data warehouses in BI?

<p>Data warehouses store processed data that is used for business intelligence applications.</p> Signup and view all the answers

Name a couple of analytical tools associated with BI.

<p>Oracle’s Sales Analyzer and Micro Strategy’s Web are examples of analytical tools used in BI.</p> Signup and view all the answers

What does analytical processing focus on in the context of BI?

<p>Analytical processing focuses on reporting, analysis, transformation, and providing decision support.</p> Signup and view all the answers

What types of decisions does BI enable organizations to make?

<p>BI enables organizations to make strategic, tactical, and operational decisions.</p> Signup and view all the answers

Can BI provide insights from data alone, and why is tacit knowledge relevant?

<p>Although BI primarily derives insights from data, tacit knowledge from human experience is also relevant as it informs decision-making.</p> Signup and view all the answers

What issues arise from information overloading?

<p>Information overloading leads to difficulty in data organization and finding useful knowledge.</p> Signup and view all the answers

What is spreadmart and how does it relate to data accessibility?

<p>Spreadmart refers to the issues arising from data being stored across separate systems and sources, complicating access.</p> Signup and view all the answers

Define structured and unstructured data.

<p>Structured data has a defined format and can be easily categorized, while unstructured data lacks any pre-defined structure.</p> Signup and view all the answers

What distinguishes numeric data from textual data?

<p>Numeric data is expressed in numbers, while textual data is conveyed through natural language descriptions.</p> Signup and view all the answers

What are internal data sources and how are they commonly collected?

<p>Internal data sources are stored in databases and collected through transactional applications like administration and accounting.</p> Signup and view all the answers

How does external data differ from internal data?

<p>External data is sourced from outside an organization and complements internal data to enhance insights.</p> Signup and view all the answers

What challenges does unstructured data present for data analysis?

<p>Unstructured data presents challenges in organizing and retrieving information effectively for analysis.</p> Signup and view all the answers

Explain the significance of data organization in business intelligence.

<p>Effective data organization enhances data retrieval and analysis, facilitating informed decision-making.</p> Signup and view all the answers

What are the three main processes involved in ETL?

<p>The three main processes in ETL are Extraction, Transformation, and Loading.</p> Signup and view all the answers

How do autonomous and distributed data systems impact data integration?

<p>Autonomous and distributed data systems complicate data integration due to their varied formats and locations.</p> Signup and view all the answers

What role does data cleansing play in the transformation phase of ETL?

<p>Data cleansing ensures that the extracted data is accurate and consistent before it is transformed and loaded.</p> Signup and view all the answers

Identify two key applications of Business Intelligence in marketing.

<p>Key applications of Business Intelligence in marketing include Customer behavior analysis and Targeted marketing strategies.</p> Signup and view all the answers

What distinguishes super users from average users in a BI context?

<p>Super users possess advanced skills and in-depth knowledge of BI tools, while average users have basic understanding and capabilities.</p> Signup and view all the answers

Discuss the significance of data integrity during the loading process of ETL.

<p>Data integrity is crucial during the loading process to ensure that the data is accurate and reliable in the destination database.</p> Signup and view all the answers

What are the implications of using spreadsheets as operational databases?

<p>Spreadsheets can limit data scalability and may lead to data integrity issues when used as operational databases.</p> Signup and view all the answers

Explain the importance of BI reporting in business management.

<p>BI reporting is essential in business management as it delivers analysis results to users, aiding in decision-making.</p> Signup and view all the answers

Study Notes

Introduction to Business Intelligence (OSCM 603)

  • Business intelligence (BI) involves methods, processes, architectures, applications, and technologies to gather and transform raw data into meaningful and useful information to support strategic, tactical, and operational insights for business operations and growth.
  • BI encompasses the evolution of "business insight systems," progressing from executive information systems (EIS) and decision support systems (DSS) in the 1980s, to data warehousing (DW) and business intelligence (BI) in the 1990s.
  • The early 2000s saw the development of dashboards, scorecards, and performance management tools.
  • Modern BI includes big data, mobile BI, and personal BI.

Overview of Business Intelligence

  • BI involves the process, components, applications, technologies used for business intelligence.
  • BI includes different types of data (numeric and textual data).
  • The BI industry, market, and career perspectives are also part of the overview.

Data and Analytics

  • Data is raw value elements or facts.
  • Information is the result of collecting and organizing data in context.
  • Knowledge is the understanding of information to derive useful and actionable insights.
  • Wisdom is the understanding of what is best in decision-making.
  • Big Data involves voluminous amounts of structured and unstructured data (text, numeric, imagery, etc.)
  • Analytics involves analyzing data to gain insights.

Evolution of Business Intelligence

  • The "perfect business insight system" evolved over time, progressively incorporating new capabilities.
  • Increase in sophistication of computational and analytical needs, coupled with advancements in computer hardware and software, aided in this evolution.
  • Key milestones include 1980s (EIS/DSS), 1990s (DW/BI), 2000s (dashboards), and 2010+ (big data).

Types of Data

  • Structured data: data that is organized in a predefined structure (e.g., databases).
  • Unstructured data: Data without a predefined structure (e.g., images, text files).
  • Numeric data: Data expressed in numerical form (e.g., numbers).
  • Textual data: Data expressed in text or natural language (e.g., descriptions).
  • Internal data: Data stored within an organization's systems.
  • External data: Data from sources outside the organization.

Data Processing Types

  • Transactional processing: Processes routine data modifications (insertions, modifications, deletions, and transmissions).
  • Analytical processing: Processes data for reporting, analysis, transformation, and decision support (e.g. CRM).

Using Business Intelligence

  • The ultimate use of gathered and processed data is for business intelligence.
  • Processes involve creating data warehouses/marts.
  • Utilizing front-end analytical tools (e.g., Oracle Sales Analyzer, Micro Strategy).
  • Tools allow end-users to access the data, make queries, create reports, examine scenarios.

How Business Intelligence Works

  • BI starts with raw data stored in corporate databases.
  • Data about various business aspects (e.g., inventory, customer info, sales) are usually scattered across multiple systems.
  • BI software brings together this dispersed information using a data warehouse/mart, forming linked tables and data cubes.
  • Data cubes enable deep analysis of various business aspects (e.g., inventory and sales).

Business Intelligence vs. Data Science

  • BI focuses on extracting meaningful data from organized data, enabling informed decision-making.
  • Data science utilizes various algorithms to discover information through deep analytical processes.

BI System Capabilities

  • Key components include Presentation, Insight Creation, Information Integration, and Organizational Memory.

Business Intelligence Process

  • The process involves gathering data, applying analytical components (e.g. OLAP, data mining), and producing actionable knowledge.
  • The process involves analyzing data and transforming it into meaningful information.

BI Systems Architecture

  • A typical BI architecture comprises operational systems, data warehouses, and external data sources, linked by ETL tools.
  • Activities include extracting, transforming, and loading (ETL) data.

BI System Values

  • BI systems enable integrated data processing.
  • This system allows easy access to various types of information (raw data, analysis results, and metrics).
  • BI systems streamline the process of well-managed, controlled data-driven decision-making.

Components of a BI System

  • Data sources
  • Data warehouses/marts
  • BI methodologies

BI System Architecture

  • Operational systems are a crucial part of the BI architecture and feed the data warehouse.
  • External data sources further enrich the data pool with industry, market, or economic trends.
  • ETL tools play a vital role in integrating and transforming data from diverse sources.

BI Applications

  • A variety of applications are employed using BI dashboards, including performance management, strategy management, benchmarking, CRM (customer relationship management), and web site/analytics.

BI Users

  • Different types of BI users exist, from executive-level decision-makers to technical data analysts.
  • Data analysis, information discovery, and insightful decision-making are all impacted by user roles and responsibilities.
  • Understanding the diverse needs of various users is paramount for designing and developing effective BI systems.

BI Tools and Frameworks

  • Reporting tools (operational reports, dashboards, ad-hoc reports)
  • Data analysis/mining tools
  • Analytical tools (e.g. OLAP)
  • Multidimensional databases

Benefits of Implementing a BI System

  • Enables informed decision-making by providing data-driven insights and more accurate conclusions.
  • Facilitates identification and development of alternatives leading to well-reasoned decisions and effective actions.

BI Market

  • BI market trends identify and indicate trends in adoption.
  • BI market share reflects market share in specific regions/countries/industries.
  • BI market growth figures provide useful insight into the market's expansion and projected future business.

BI Careers/Positions

  • BI solution architects (integration specialists)
  • Business and analytics specialists
  • BI application developers and testers
  • Data warehouse specialists
  • Database specialists

Critical Skills Needed for BI

  • Solid understanding of database systems & data warehousing
  • Efficient data management integration
  • Creation of complex reports
  • Expertise in data policies/regulations
  • Developing & managing business solutions

Resources for Learning More About BI

  • Organizations/Institutes (e.g. The Data Warehousing Institute)
  • Web sites/resources (relevant web pages, etc.)
  • Industry expert information

Assignments

  • Data warehousing
  • Data Analytics
  • Data mining
  • Data science

Next Week's Topic

  • Data warehousing

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OSCM 603: Business Intelligence Introduction Lecture 1 PDF

Description

Explore the fundamentals of Business Intelligence (BI) in OSCM 603. This quiz covers the evolution, components, and modern applications of BI that support strategic decision-making processes in business. Gain insights into how BI transforms raw data into actionable information for business growth and operations.

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