FIT5195 Study Guide - Midterm Guide: Executive Information System, Data Mart, Data Warehouse

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Compare and Contrast:
1) Business Analytics and Business Intelligence
Business Intelligence (BI) refers to technologies, applications and practices for the collection,
integration, analysis, and presentation of business information. The purpose of Business
Intelligence is to support better business decision making.
Whereas on the other side, Business Analytics (BA) is an expression for approaches and
technologies you can use to access and explore your company’s data, with a view to drawing out
new, useful insights to improve business planning and boost future performance.
Often, these are confused for the same, but ultimately, they are different to each other. One
way to look at this is that BI tells you what happened or is happening right now in your
business – it describes the situation to you. So, BI deals with historical data leading right up to
the present, and what you do with that information is up to you. But BA primarily predicts what
will happen in the future. It combines advanced statistical analysis and predictive modelling to
give you an idea of what to expect so that you can anticipate developments or make changes
now to improve outcomes.
2) Decision Support System; Business Intelligence System
Business Intelligence (BI) refers to technologies, applications and practices for the collection,
integration, analysis, and presentation of business information. The purpose of Business
Intelligence is to support better business decision making.
A decision support system (DSS) is a computer-based application that collects, organizes and
analyses business data to facilitate quality business decision-making for management,
operations and planning.
Business intelligence (BI) systems monitor situations and identify
problems and/or opportunities, using analytic methods. However, Decision Support Systems
(DSS) are typically built to support the
solution of a certain problem or to evaluate an opportunity, already identified. BI systems are
not only for decision support but a very important feature they have is: reporting. Thus, DSS
directly supports specific decision making, however, BI provides timely and accurate information
that indirectly supports decision making.
Or/And
BI systems are systems to deduce relationships between business entities by analysing large
amounts of historical data. They do support decisions by uncovering those relationships. DSS
systems provide information from the available data in the right time for the right person to help
him/her making the rights decision (based on the available data).
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Document Summary

Compare and contrast: business analytics and business intelligence. Often, these are confused for the same, but ultimately, they are different to each other. One way to look at this is that bi tells you what happened or is happening right now in your business it describes the situation to you. So, bi deals with historical data leading right up to the present, and what you do with that information is up to you. But ba primarily predicts what will happen in the future. It combines advanced statistical analysis and predictive modelling to give you an idea of what to expect so that you can anticipate developments or make changes now to improve outcomes: decision support system; business intelligence system. Business intelligence (bi) refers to technologies, applications and practices for the collection, integration, analysis, and presentation of business information. Intelligence is to support better business decision making.