CONTENT What is Business Intelligence? (Pushpam) Why Business Intelligence? (Pushpam) Advantages of Business Intelligence (Timsi) Technologies Supporting BI (Timsi) Components of Business Intelligence (Siddharth) Applications of Business Intelligence in management (Vandana) Business Intelligence Stakeholders (Dev) Data mining and case presentation (Dev)
What is Business Intelligence (BI)? IT-enabled business decision making based on simple to complex data analysis processes. It is an architecture and a collection of integrated operational as well as decision- support applications and databases that provide the business community easy access to business data
Why Business Intelligence? Make more informed business decisions Competitive and location analysis Customer behavior analysis Targeted marketing and sales strategies Business scenarios and forecasting Business service management Business planning and operation optimization Financial management and compliance
Advantages of business intelligence Enhanced reaction and sensitivity of the organization toward the customers Identification of customer demands Capability to respond to market transformations Improved optimality within operations Effective use and saving of wealth Intricate study assisting for future prospects Optimum utilization of organizational resources
Technologies Supporting BI Database systems and database integration Data warehousing, data stores and data marts Enterprise resource planning (ERP) systems Query and report writing technologies Data mining and analytics tools Decision support systems Customer relation management software Product lifecycle and supply chain management systems
Components of Business Intelligence OLAP (On-Line Analytical Processing) Advance Analytics Corporate Performance Management (Portals, Scorecards, Dashboards) Data Warehousing and Data Mart Data Sources
Importance of Business Intelligence To Customers To Competitor To Business Partners Economic Environment Internal Operations
Applications of Business Intelligence Measurement – program that creates a hierarchy of performance metrics and benchmarking that informs business leaders about progress towards business goals. Analytics – program that builds quantitative processes for a business to arrive at optimal decisions and to perform business knowledge discovery. Reporting – program that builds infrastructure for strategic reporting to serve the strategic management of a business. Frequently involves data visualization, executive information system and OLAP.
Collaboration– program that gets different areas (both inside and outside the business) to work together through data sharing and electronic data interchange. Knowledge management – program to make the company data driven through strategies and practices to identify, create, represent, distribute, and enable adoption of insights and experiences that are true business knowledge. Knowledge management leads to learning management and regulatory compliance/compliance.In addition to above, business intelligence also can provide a pro-active approach, such as ALARM function to alert immediately to end-user.
Business Intelligence Stakeholders Applications Tools & Analytical Clients Platform
Data Mining Data mining is the process of extracting hidden patterns from data. Important tool to transform data into information. It is commonly used in a wide range of profiling practices, such as marketing, surveillance, fraud detection and scientific discovery.
Data Mining Tools Analyze the data Uncover problems or opportunities hidden in data relationships Form computer models based on their findings And then user the models to predict business behavior – with minimal end-user intervention.