Business Intelligence Basic
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Business intelligence (BI) involves collecting, structuring, and analyzing data to provide useful information for making strategic, tactical, and operational decisions. The key components of BI include gathering data from various sources, storing the data in databases or data warehouses, analyzing the data, and providing access to the analyzed data through reports, dashboards, and other tools. Popular BI tools are provided by companies like SAP, IBM, SAS, Oracle, Microsoft, and MicroStrategy and are used for applications such as analyzing customer behavior, sales forecasting, financial planning, marketing campaign optimization, and supply chain management.
Business Intelligence Basic
- 1. Business Intelligence Hank Lin - Athabasca University
- 3. Introduction
- 4. About Business Intelligence • Business Intelligence (BI) is also referred to as academic analytics or institutional intelligence. • BI is an IT term that refers to the collecting, structuring, analyzing and leveraging of data to turn it into easy-to- understand information. • BI is a way of combining data in new ways that reveal previously unforeseen efficiencies, enabling leaders to use their expertise to make data-driven decisions.
- 5. What is Business Intelligence Business Intelligence is a set of methods, processes, architectures, applications, and technologies that transform raw data into meaningful and useful information used to enable more effective strategic, tactical, and operational insights and decision-making. - Forrester
- 6. Definition Business intelligence can be defined as a collection of approaches for gathering, storing, analysing and providing access to data that transform raw data into meaningful and useful information used to enable more effective strategic, tactical, and operational insights and decision-making.
- 7. Purpose
- 8. Questions that BI can help Do we know the type of customers we Can we forecast long- have? Are our products & term buying habits of services priced our customers? competitively? Do we know why we are losing market Do we know what share? our best customers have in common?
- 9. What is BI used for? • Analysing customer behaviours, buying patterns and sales trends. • Measuring, tracking and predicting sales and financial performance • Budgeting and financial planning and forecasting • Tracking the performance of marketing campaigns • Optimising processes and operational performance
- 10. What is BI used for?(Cont.) • Improving delivery and supply chain effectiveness • Web and e-commerce analytics • Customer relationship management • Risk analysis • Strategic value driver analysis
- 11. Basic Components
- 12. The Basics Components of BI
- 13. Gathering Data Gathering data is concerned with collecting or accessing data which can then be used to inform decision making. Gathering data can come in many formats and basically refers to the automated measurement and collection of performance data. A major challenge of gathering data is making sure that the relevant data is collected in the right way at the right time.
- 14. Storing Data Storing Data is concerned with making sure the data is filed and stored in appropriate ways to ensure it can be found and used for analysis and reporting. When storing data the same basic principles apply that you would use to store physical goods. The advantages of modern data warehouses is that they allow multi-dimensional formats so you can store the same data under different categories
- 15. Analysing Data Taking the data that has been gathered and inspect, transform or model it in order to gain new insights that will support our business decision making. Analysis techniques includes the use of statistical tools, data mining approaches as well as visual analytics or even analysis of unstructured data such as text or pictures.
- 16. Providing Access Access is needed to perform analysis or to view the results of the analysis. The former is provided by the latest software tools that allow end-users to perform data analysis while the latter is provided through reporting, dashboard and scorecard applications.
- 17. Top players
- 18. Top Players
- 19. Popular Tools Product Name Feature SAP BusinessObjects Self-service access to fact-based, quality information regardless of where the data resides A powerful business intelligence infrastructure, comprehensive planning and simulation capabilities, and data-warehousing functionality, delivered through enterprise portal SAP NetWeaver Business Intelligence technology Query and reporting, analysis, dashboarding and IBM Cognos Business Intelligence scorecarding on a single, service-oriented architecture A fully integrated and comprehensive suite of business intelligence software that addresses the SAS Business Intelligence needs of IT management and business users. Oracle Business Intelligence Enterprise Edition 11g A full range of analytic and reporting capabilities integrate strategic, financial and operational management processes while delivering a low cost Oracle Hyperion System 9 of deployment/ownership Microsoft Business Intelligence Tools .Self-service, Dashboards and scorecards, Reporting, Predictive analytics, Data mining MicroStrategy Business Intelligence Transforms data into attractive, easy-to-understand dashboards and reports for greater insights