Beginner’s Primer on Business Intelligence
Download as PPTX, PDF0 likes143 views
The document discusses the importance of business intelligence (BI) in navigating today's complex business environments by leveraging data for decision-making. It outlines the methodologies and tools used in BI to analyze data, improve marketing strategies, and enhance customer experiences. Additionally, it covers the types of users involved in BI and emphasizes key aspects of data analysis and visualization.
Beginner’s Primer on Business Intelligence
- 1. BUSINESS INTELLIGENCE What? Why? How? Ashutosh Samadhiya
- 2. Learning Objectives • Understanding today’s turbulent business environments • Understanding the need of Data • Where does Business Intelligence Fit-In • Understanding Business Intelligence Methodology • Various Business Intelligence Tools
- 3. Understanding today’s turbulent business environments
- 4. Understanding Business Environments • Data is Information • Businesses as diverse as life-insurance agencies, hotels, and product management companies are now using data to improve their marketing strategies, customer experience, and to understand business trends or just collect insights on user data. • Data in Retail as an example
- 5. Understand the need of Data • Find new customers • Improve customer retention rate • Capture customer inclinations and market trends • Predict sales trends • Improve brand experience
- 8. There are many questions we in business seek answers to. • What should be our next marketing strategy? • When should we launch the new product? • Is it a right time for a clearance sale? • What category of items should be focused on
- 9. Business Intelligence • Set of processes, architectures, and technologies that convert raw data into meaningful information that drives profitable business actions. • Technologies, applications and practices for the collection, integration, analysis, and presentation of business data. • Business intelligence (BI) combines business analytics, data mining, data visualization, data tools and infrastructure, and best practices to help organizations to make more data-driven decisions
- 11. The Major Theories and Characteristics of Business Intelligence • Online Transaction Processing Systems (OLTP) Systems that handle a company’s routine ongoing business (Tuned for Performance) • Online Analytic Processing (OLAP) An information system that enables the user, while at a PC, to query the system, conduct an analysis, and so on (Tuned for Storage)
- 14. The Typical BI User Community • IT Staff • Power Users • Executives • Managers/Decision Makers • Partners • Consumers/Customers
- 15. Aspects of Data Analysis and Visualization • Variability: Illustrates how things differ, and by how much • Uncertainty: Good visualization practices frame uncertainty that arises from variation in data • Context: Meaningful context helps us frame uncertainty against underlying variation in data
- 16. BI Tools in the Market
Editor's Notes
- #6: Find new customers Track social media interaction with the brand Improve customer retention rate Capture customer inclinations and market trends Predict sales trends Improve brand experience