MIS271 Lecture Notes - Lecture 1: Data Mining, Online Analytical Processing, Radio Edit

• School: Deakin University
• Department: Business and Law
• Course: MIS271
• Professor: Mr. Jay Zeal

Document Summary

Module 1: intro to business intelligence: business intelligence: is actionable information that supports strategic and operational decision making and risk assessment in uncertain and dynamic business environments. Refers to technologies, applications and practices for the collection, integration, analysis and presentation of business information. Bi aims to deliver the right information at the right time to the right people in the right form. It is an enterprise-wide platform that supports reporting, analysis and decision making. Decision making requires bi: de(cid:272)isio(cid:374) (cid:373)aki(cid:374)g i(cid:374) today"s day a(cid:374)d age is a (cid:271)it (cid:373)ore (cid:272)o(cid:373)pli(cid:272)ating due to more data and information being available and thereby it results in there being more alternatives available to consider and explore. All de(cid:272)isio(cid:374)s (cid:271)ei(cid:374)g (cid:373)ade withi(cid:374) bi is all (cid:862)fa(cid:272)t-(cid:271)ased a(cid:374)alysis(cid:863: the cost of making bad decision can be very large as an error may set of a chain reaction within an organisation. Thereby you would want to minimize on making errors in decision making.