INSY 2299 Lecture Notes - Lecture 5: Data Warehouse, Teijin, Affinity Analysis
22 Jun 2018
School
Course
Professor
Business Intelligence (BI)
Intelligence
Effective managerial action (decision-making) often depends on “intelligence” work
oIntelligence Work: Detecting problems and opportunities in a timely manner
Potential Problems: Falling sales, shrinking profits, cost increases, raw
material shortages, changing consumer tastes, cash flow/credit issues,
competitor behavior, the weather, etc.
Potential Opportunities: New or existing market growth,
complementary products, competitor failures, partnerships, innovations,
regulatory changes, the weather, etc.
Terminology (Buzzwords)
Decision Support
Business Intelligence: Using technology to sift through data in order to gain insights
and make decisions
Business Analytics
Big Data
oVolume: Businesses are collecting mountains of data every second
oVelocity: The speed with which the data is being created
oVariety: Businesses now have structured and unstructured data
oVeracity: The data need to be correct
Types of Analytics
Descriptive Analytics
Predictive Analytics
Prescriptive Analytics
Examples of Business Analytics
Simple Report and Query Systems
OLAP (Multidimensional Data Cubes)
Performance Dashboards
oComputer-based tools that provide visual displays of important information
that is consolidated and arranged on a single screen so that information can be
digested at a single glance and easily explored
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Effective managerial action (decision-making) often depends on intelligence work: intelligence work: detecting problems and opportunities in a timely manner. Potential problems: falling sales, shrinking profits, cost increases, raw material shortages, changing consumer tastes, cash flow/credit issues, competitor behavior, the weather, etc. Potential opportunities: new or existing market growth, complementary products, competitor failures, partnerships, innovations, regulatory changes, the weather, etc. Business intelligence: using technology to sift through data in order to gain insights and make decisions. Big data: volume: businesses are collecting mountains of data every second, velocity: the speed with which the data is being created, variety: businesses now have structured and unstructured data, veracity: the data need to be correct. Performance dashboards: computer-based tools that provide visual displays of important information that is consolidated and arranged on a single screen so that information can be digested at a single glance and easily explored. Three sources: legacy systems (outdated systems/software that continue to be used),
