Understanding Business Intelligence (BI)

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Questions and Answers

Which of the following best describes the role of Business Intelligence (BI) in an organization?

To provide a high-level overview of the company's strategic goals.
To conduct statistical analysis for predicting future market trends.
To automate decision-making using machine learning algorithms.
To generate insights from past and current data for better decision-making. (correct)

In the context of Business Intelligence, what does it mean when it is referred to as an 'umbrella term'?

It strictly refers to a specific set of tools used for tracking customer behavior.
It universally means generating reports on revenue for financial analysts.
It exclusively deals with high-level overviews of company performance for CEOs.
Its definition and application can vary depending on the individual or department using it. (correct)

Which of the following activities is most aligned with the objectives of Business Intelligence?

Enabling stakeholders to make informed decisions through interactive access and data manipulation. (correct)
Developing machine learning models to predict future customer behavior.
Implementing cybersecurity measures to protect sensitive data.
Automating business processes to reduce operational costs.

How does Business Intelligence contribute to the transformation of enterprise data?

By converting raw data into actionable knowledge through visuals and analysis. (C) Signup and view all the answers

Consider a scenario where a company wants to understand why sales dropped in the last quarter. Which approach aligns with Business Intelligence?

Analyzing historical sales data and market trends to identify potential causes. (B) Signup and view all the answers

In what decade did Business Intelligence emerge as a distinct field, focusing on leveraging data for decision-making?

1990s (A) Signup and view all the answers

Business Intelligence (BI) primarily focuses on answering which question?

"What happened and why?" (C) Signup and view all the answers

Which of the following features are characteristic of Business Intelligence?

Descriptive analytics of past and present data. (D) Signup and view all the answers

What type of data is primarily used in Business Intelligence (BI) applications?

Structured data from databases and spreadsheets. (C) Signup and view all the answers

Which of the following tools is commonly associated with Business Intelligence (BI)?

Power BI (C) Signup and view all the answers

What kind of applications are often associated with Business Intelligence

Reporting and dashboards (B) Signup and view all the answers

What immediately follows information in the 'Idea of BI' flow?

Decisions (D) Signup and view all the answers

Which of the following is NOT part of the workflow of Business Intelligence?

Data exploration (D) Signup and view all the answers

Which of these is used in Data modelling?

DAX (A) Signup and view all the answers

What are BI tools used for, according to Joseph (Marketing Director)?

To track customer behavior (A) Signup and view all the answers

What are BI tools used for, according to Maria (Financial Analyst)?

To generate reports on revenue (B) Signup and view all the answers

According to João (CEO), what is Business Intelligence?

High level overview of the company (C) Signup and view all the answers

What is the main goal of BI

To enable business stakeholders the ability to make better decisions (A) Signup and view all the answers

What is the first property of BI

Set of technologies and tools to gather and store data systematically. (D) Signup and view all the answers

When was the era of Analytics and Big Data?

2020s (D) Signup and view all the answers

What is Business Analytics (BA)?

Uses statistical analysis to understand past trends and predict future outcomes. (B) Signup and view all the answers

What is the question that Business Analytics seeks to answer?

"What will happen next?" (B) Signup and view all the answers

What is the focus of Data Science (DS)

Machine learning & Al (C) Signup and view all the answers

What timeframe does Business Intelligence (BI) consider?

Past & present (A) Signup and view all the answers

What kind of data does Business Analytics (BA) use?

Structured & unstructured data (B) Signup and view all the answers

What tools does Data Science (DS) use?

Python, R, TensorFlow, Hadoop (C) Signup and view all the answers

What is a common application of Data Science (DS)?

AI-driven automation & deep learning (A) Signup and view all the answers

What are the key concepts in Business Intelligence?

All of the above (D) Signup and view all the answers

The amount of information collected is growing exponentially, and Business intelligence is all about converting that data into:

Actions (D) Signup and view all the answers

Which of the following statements correctly highlights the difference between Business Intelligence (BI) and Business Analytics (BA)?

BI aims to understand 'what happened and why,' while BA seeks to predict 'what will happen next.' (B) Signup and view all the answers

What does ETL stand for?

Extract, Transform, Load (C) Signup and view all the answers

A company is deciding whether to implement a Data Warehouse or a Data Lake. Which factor would suggest that a Data Lake is the more appropriate choice?

The company anticipates a need to store diverse, unstructured data for future, undefined analytical purposes. (B) Signup and view all the answers

Which of the following is the best example of a question answered by a Business Intelligence (BI) initiative?

Why did sales in the European market decline last year? (A) Signup and view all the answers

Which of the sentences below correctly describes Business Intelligence?

It is a complex term, but encompasses many different concepts for different people. (B) Signup and view all the answers

Which of the following refers to BI?

Set of technologies (D) Signup and view all the answers

Flashcards

Business Intelligence (BI)

An umbrella term that means different things to different people, focusing on interactive data access for better decision-making.

Business Intelligence Objective

Enables interactive access (sometimes in real time) to data, to enable manipulation of data, and to give business stakeholders the ability to make better decisions.

Properties of Business Intelligence

A set of technologies and tools to systematically gather and store data, it acts as a decision support system, and transforms data into knowledge through visuals to help enterprises make better business decisions.