Dwbi Unit 4 & 5
Dwbi Unit 4 & 5
Dwbi Unit 4 & 5
Advanced BI – Big Data and BI, Social Networks, Mobile BI, emerging trends, Description
of different,BI-Tools (Pentaho, KNIME)
1. Advanced BI
A solution to better manage your business.
The executives are provided with indicators to monitor production metrics and control
profitability, guiding financial institutions towards profitable growth and the achievement of
goals.
Key Functionalities
1.Business Indicators
2.Data Templates
Data organised according to the analyses to be carried out. Wide range of templates with
customisable components depending on the organisation.
Interactive and flexible reports and Dashboards with easy-to-read graphical overviews. Allows
end-users to create reports and Dashboards.
Advantages
1. Reduced time-to-market
2. Better Decisions
3. Autonomy
Users are able to perform exploratory data analysis and make their own findings
4. Versatility
Flexible and customisable solution, allowing the production of analysis instruments adapted to
each organisation and to the different user profiles.
Business intelligence and big data sound similar but they are not the same.
In general, business intelligence (BI) refers to structured and readily usable information that
impacts profitability and competitive advantage. On the other hand, big data — as you might
expect — refers to enormous heaps of digital information scattered all over the place, with
practitioners typically focusing more on unstructured data.
Both fields involve crunching information to generate insight and make things happen. But they
differ in terms of the volume and nature of information each focuses on, as well as the tools they
use to process data. Their specific aims and outcomes sometimes coincide but not always. You
don’t need big data to build a decent business intelligence system, for example, but big data
dramatically enhances BI capabilities at scale.
Over the years, think tanks and business leaders have attempted to update the meaning of big
data and business intelligence as economic and technological contexts evolve. Here are two of
the most widely-cited definitions:
“Business intelligence (BI) is an umbrella term that includes the applications, infrastructure and
tools, and best practices that enable access to and analysis of information to improve and
optimize decisions and performance.”
“Big data is a term applied to datasets whose size or type is beyond the ability of traditional
relational databases to capture, manage, and process the data with low-latency. And it has one or
more of the following characteristics – high volume, high velocity, or high variety. Big data
usiness intelligence practitioners generally handle structured data while big data professionals
feel at home processing humongous volumes of unstructured data at lightning speeds. Both can
provide the fourth and most important V (i.e., value) in the form of descriptive, predictive, and
prescriptive analysis/reporting.
Finally, each field uses a different set of enabling technologies, with the data science toolbox
generally more sophisticated than the one for BI, although they might share common tools such
as SQL and Python. Both BI and Big data goal is to help the business to make good decisions by
analyzing the huge datasets to expand the business and optimizing the cost.
This data analysis not only enables decision making but also involves an active part in the
development of strategies and methods that make sure the success of organizations. This data
analysis can be called “Business Intelligence”, whereas “Big Data” is a relatively new term for
Business intelligence.
Since the times of BI, the volumes of data sets become incredibly large, the best example we can
consider is social media. As the result, more effort and strategies should be applied to tackle with
them and make them useful for successful business.
Business Intelligence helps in finding the answers to the business questions we know, whereas
Big Data helps us in finding the questions and answers that we didn’t know before.
Although Business Intelligence and Big Data are two technologies used to analyze data sets to
helps organizations in the decision-making process, there is differences present between them.
They both differ in the way they analyze the data.
Business Intelligence is based on the principle of combining all business data sets into a central
server, this data will be analyzed in offline mode, after saving the information in a platform or
environment called Data Warehouse. The data sets are structured in a relational database with
additional indexes and forms of access to the tables in the warehouse.
Whereas in the Big Data environment, data is stored on a distributed file system (e.g. HDFS),
rather than storing on a central server. Data will be distributed across the worker nodes for easy
processing. Distributed File System is much safer and flexible.
BI solutions carry the data to the processing functions, whereas Big Data solutions take the
processing functions to the data sets. Since the analysis is positioned around the information
(Data), it is simpler to handler lager amounts.
BI solutions are more towards the structured data, whereas Big Data tools can process and
analyze data in different formats, both structured and unstructured.
Big Data technology uses parallel processing concepts (Map reducing algorithm), which
improves the speed of analyzing and processing the data sets by distributing jobs into several
parallel execution processes, at the end the results are combined and shown, this makes
analyzing the large volumes easier.
BI
BigData
Social Networks and Big Data: the best strategy for getting to know your customers
This is because the volume of daily data produced in these virtual environments is a real gold
mine for companies prepared to prospect for it.
We will reflect more on this thought in this article. Keep reading to understand how you can
benefit from the combination of Social Networks + Big Data.
In the age of Digital Transformation, social media is ubiquitous. To give you an idea, Facebook
has about 2.5 billion users across the globe.
The fact is: there are social networks for all tastes, from those that like entertainment, like
TikTok, to the most professional ones, like LinkedIn. Thus, it is practically impossible to find a
person who has access to the internet and does not interact on these platforms.
However, many companies still do not know what to do with this information – or even measure
it correctly.
Superficial monitoring and the lack of an outside opinion are two reasons for this. The data
should help companies gain in-depth knowledge about their customers.
To think about this more clearly, keep in mind that data needs to answer the following:
What concerns them, and how does my company relate to their interests, desires, and concerns?
→You might also like: Business Analytics – The data age has begun!
It is a set of “high volume, high speed and/or high variety information assets that require
innovative and economical ways of processing, allowing for improved insights, decision making,
and process automation.”
A good Big Data strategy has to manage and analyze the exponential volume of information
from social networks. This can only be done with the proper people and tools.
It’s not very common, but it is urgent. Organizations miss out on many opportunities only by
superficially evaluating social media data – or just using it to measure their branding efforts and
distribute content.
1- Collect data from networks and social media to analyze them in an automated and systematic
way. The procedure usually starts with the identification of the relevant platforms and
information.
→The results are reports and indexes that support decision-making processes.
By working with infinite data inputs using Big Data methodologies, companies get a better view
of their customers’ opinions, allowing them to develop their image or brand better.
In addition to marketing, customer service is also supported by the results of this strategy. For
example, a detailed analysis of the discussion facilitates the identification of weaknesses.
Likes
Tweets
Shares
Links
Advanced Big Data platforms and methods go beyond these metrics to be more “objective.”
They can even perform analysis of feelings and other intrinsic characteristics that are not
verbalized adequately by users.
Social Networks and Big Data: get the strategy right for an incredible experience
Big Data makes social network analysis more focused on predictions and the effects of current
strategies in the future. Predictive analytics is gaining popularity among marketing, sales, and
competitive intelligence analysts, among others, and Big Data has a significant role to play.
Professionals dedicated to this strategy are not only able to predict consumer behavior. Still, they
can also use their data analysis conclusions in various other methods of marketing, sales,
logistics, etc. It is in this way that the path towards surprising innovations is carved.
Now, where to start? Below we have a checklist that should help you stay on track. It should help
you get to know the current and potential customers in-depth to create incredible experiences and
enhance your company’s results.
Identify what you want: what are your Big Data and Social Media strategy going to achieve?
Social analysis: briefly refers to the measurement of non-transactional data on various social
media and websites, such as Facebook, Twitter, and Instagram. This strategy is based on the
analysis of conversations and criticisms that arise on these platforms. It presents three main
analytical advantages: awareness, engagement, and word of mouth. Social analysis is also useful
in predicting the peak demand for specific products.
Data exploration: an approach that makes heavy use of research and data mining to find solutions
and correlations that are not easily detectable with internal data. It is currently used by
Invest in the right technological tools: you will need to invest in Analytics and data visualization
tools, but you may also need Business Intelligence and CRM. It all depends on the objectives of
your strategy.
Identify the necessary changes in the infrastructure: if the company’s old data was stored in
traditional formats, this might not facilitate the execution of complex algorithms and analysis.
Different departments (marketing, sales, board, etc.) may need integration to collect and optimize
data in a more usable format. Integration between various departments is essential to implement
change at scale. If your existing infrastructure is not connected correctly, you will need to
prepare for changes.
Work on the customer experience as a guide for your strategy: the primary use of Big Data is to
generate insights that can help company’s better serve their customers. Customer-oriented
marketing is a new way to approach the market and generate revenue. At the end of the day, you
need to communicate to your customer that you are there to solve a problem and not just to make
a profit. Big Data provides information about the customer’s mindset that can improve and even
change current marketing practices. As we’ve already said: Another thing you need to focus on is
creating a fine line between data collection and abuse of privacy – your customers must feel that
they are not spied on. As much as you work with cloud computing tools, it will be necessary to
facilitate tracking everything that is done with data duly authorized by users.
Be agile: when implementing disruptive technologies, many obstacles can arise, including some
that no one imagined initially. You need to adjust your budget, stakeholders, and ideologies
based on the circumstances and ideas you gather. It is best to start with a high-level plan and
make the necessary changes. In the end, you can propose an action plan that is nowhere near the
initial idea, but it will be worth it.
→Finally, recognize that you will initially need to seek outside help. A good consulting company
can help you to structure your Social Networks and Big Data strategy. Do not hesitate to find a
company that already has a background in the subject and qualified talents.
4. MOBILE BI
Mobile is changing the way that we work and consume information. We are hardly “Offline”
anymore, which means that users need to have access to their analytics to make decisions faster
based on insights on the fly. In other words, dashboards need to be consumed by your mobile
device and be able to provide end-users with data information that they can easily absorb. This
becomes tricky due to the amount of real estate you have on a phone vs on your desktop.
The definition of mobile BI refers to the access and use of information via mobile devices. With
the increasing use of mobile devices for business – not only in management positions – mobile
Mobile BI – driven by the success of mobile devices – was considered by many as a big wave in
BI and analytics a few years ago. Nowadays, there is a level of disillusion in the market and
users attach much less importance to this trend.
5. EMERGING TRENDS
Nowadays, we produce more data daily than ever before, and decision-making is an
all-important aspect of business and operations management. While some business people rely
on their intuition, savvy entrepreneurs use solid data as a basis. But contrary to popular belief,
analytics don’t follow your experience-based instincts. Data can either support intuition or not,
but it helps you determine the next steps and directions.
By 2025, the world’s data will have exceeded 180 zettabytes coming from over 41 billion
connected devices.
Data management is no longer an ideal; it’s an expectation in today’s business world. Over the
last few years, spreadsheets have finally given way to informative real-time data
visualizations and interactive business dashboards.
Business intelligence (BI) helps companies collect, analyze, present, and integrate data to receive
valuable information for business growth. Over time, the business intelligence industry has
morphed into a billion-dollar enterprise. More and more companies undergo digital
transformation in response to industry demands.
The future of BI is being defined, and everyone who wants to be data-driven wants to keep an
eye on new trends. Let’s have a look at current and future BI trends.
The amount of information in all industries is growing fast. Today, organizations are
continuously generating volumes of data as the speed, variety, and complexity of data are also
increasing. But only those companies that know how to handle and use data properly can find
useful insights and create real profit.
Let’s have a look at top Business intelligence trends. In 2022, companies are still working to
position themselves for the long term: addressing the root causes of their problems, e.g. data
quality, and working to create a data-driven culture holistically. Data management has become
more important, too. Data discovery and visualization, plus self-service analytics, are important
to organizations.
DQ and MD Management
Qualitative data is at the core of the strategic, tactical, and operational management of every
company. Data from The BI Survey shows that companies have always strived to provide a high
level of data quality. In 2022, when information is increasingly becoming a vital factor of
production, the need for high-quality data is growing, too. All in all, poor-quality data results in
false facts and wrong decisions at companies.
Rapidly growing volumes of information from internal and external sources make databases keep
expanding. Why is using qualitative data considered one of the latest BI trends?
Minimizing risks
Setting up rules for information use
Improving internal and external communication
Making data more valuable
Saving time and costs
The goal is to leverage the full value of information not only to improve decision-making but
also to impact business process optimization and support new business models directly.
Interactive and novel types of visualizations enable decision makers to instantly see key trends
and identify outliers. Users are better able to find insights and detect outliers when data gets
presented as charts and graphs on a single page rather than hidden in tables that take up multiple
pages.
Recently, organizations have seen a growing need for real-time data, and this trend will continue
in 2023. Up-to-date information is becoming more important than ever before, and as the world
has changed, companies also need to adapt. Since the onset of the pandemic, we have seen the
need for accurate, real-time updates is critical to developing the right strategies to respond to
adverse situations like that. Besides, interactive dashboards will help companies immediately
access relevant information related to their business and respond if any potential issues arise.
Artificial intelligence (AI) and machine learning are future trends in business intelligence. AI is a
branch of computer science to make machines do what sophisticated human intelligence would
normally do. AI and ML revolutionize how we interact with our analytics and data management.
Data automation
Business intelligence topics would be incomplete without data automation (analysis). This
emerging trend is all about activities where businesses automate as many processes as possible
using multiple tools and technologies such as AI, machine learning, low-code and no-code tools,
etc.
According to business intelligence statistics, any business effectively using information extracted
from market data will surely benefit. Of course, big companies in any industry know this. We
understand the value of BI to your company’s growth. All in all, we have hand-picked some of
the most relevant business intelligence statistics for 2022.
Here are some top statistics in business intelligence to help you understand the importance of it
all:
By 2023, over 33% of large-sized businesses will have practised decision intelligence.
Data analytics makes decision-making 5x faster for businesses.
Self-service BI is crucial to 60% of research and development departments.
The global BI market will have grown to $33.3 billion by 2025.
Most businesses adopted BI in 2020.
The top three latest trends in BI are data visualization, data quality management, and
self-service business intelligence (BI).
Seven out of ten businesses rate data discovery as very important.
71% of buyers prefer Microsoft Azure as their number one vendor.
Only 37.8% of firms report building a data-driven organization.
Only 26.8% consider themselves successful in building a data culture.
Reporting, dashboards, data integration, data warehousing and data processing are among
the top five technologies and initiatives of strategic importance for BI.
The crisis has made one point obvious: the traditional wait-and-watch strategy for optimizing
operations won’t work. Companies must make data-driven decisions to devise strategies to
empower employees, navigate through the crisis smoothly to earn clients’ trust and loyalty,
stabilize operations, and optimize costs—none of which is possible without BI.
Let’s have a look at these top trends in business intelligence in more detail:
The main business intelligence industry trend is removing barriers between siloed data sources.
BI can help you match information from thousands of datasets and provide forecasts that are not
only accurate but also timely. Such information can enable historical data analysis, helping
companies uncover growth opportunities—even as sectors plunge.
By identifying unnecessary costs and redundant processes, BI can list business areas to yield the
best results in cost savings while highlighting avenues of business that require investments, such
as digital workspaces, business continuity, or remote workforce.
By connecting to a wide array of data sources, BI can provide the figures, information, and facts
to help companies make informed business decisions and mitigate potential risks.
BI provides a fast and simple overview of data from across the company—that can easily go
unnoticed. By incorporating sophisticated data analysis tools and technologies, BI can maximize
correlations, patterns, and trends and helps employees make data-driven decisions.
Learn more about “How to be a data-driven decision-making company in times of crisis”
For starters, data discovery, which used to be limited to the expertise of advanced analytics
specialists, is now something everyone can do using these tools. And not only that, these tools
give you the insights you need to achieve things like growth, resolve issues that are urgent,
collect all your data in one place, forecast future outcomes and so much more.
In this article we will explain the top 15 Business Intelligence tools in 2021 and hopefully put
you on the right path towards selecting you’re a tool fit for your business.
Keep in mind: these business intelligence tools all vary in robustness, integration capabilities,
ease-of-use (from a technical perspective) and of course, pricing.
1. Pentaho BI
Pentaho Features
Pentaho BI offers multiple features for the smooth workability of the business, such as:
High-end data analysis through well-defined ETL (Extract, Transform, Load)
capabilities
Expertise in products across varied domains
Comprehensive report designer taking care of business needs
2. KNIME
What is KNIME?
KNIME is an open-source end-to-end data analytics solution. It utilizes visual workflows with
drag-and-drop functionality and thousands of nodes to lessen the data analytics learning curve
data, with more than 1,800 prebuilt default workflows for streamlined setup.
It allows for data ingestion, preparing, cleansing, analyzing and visualizing. It can be scaled for
deeper analytics through integrations with sophisticated data modeling capabilities. It can be
hosted on premise or in the cloud through Microsoft Azure.
Free To Use: Save money by getting access to all of the platform’s features for free.
Licensed productivity and collaboration extensions are available at a cost.
Scalable: Obtain access to big data by scaling up the project in-platform. Integrations to
distributed and multi-threaded data processing allow projects to grow.
End-To-End Analytics: It is capable of handling some tasks from start to finish without
integrations. Additional integrations may be required for increasing scale and completing
more sophisticated analytics.
SAP Business Objects is a business intelligence software which offers comprehensive reporting,
analysis and interactive data visualization. The platform focuses heavily on categories such as
Customer Experience (CX) and CRM, digital supply chain, ERP and more. What’s really nice
about this platform is the self-service, role-based dashboards its offers enabling users to build
their own dashboards and applications. SAP is a robust software intended for all
Website: www.sap.com
4. Datapine
Datapine is an all-in-one business intelligence platform that facilitates the complex process of
Website: www.datapine.com
5. Microsoft Power BI
Microsoft Power BI is a web-based business analytics tool suite which excels in data
visualisation. It allows users to identify trends in real-time and has brand new connectors that
allow you to up your game in campaigns. Because it’s web-based, Microsoft Power BI can be
accessed from pretty much anywhere. This software also allows users to integrate their apps and
deliver reports and real-time dashboards.
Website: www.powerbi.microsoft.com
6. Looker
This is for all of the Excel-lovers out there…This BI tool is an intuitive Excel-based software
that can be used by employees with even the most basic knowledge of Excel. What you get is a
self-service Business Intelligence system that offers several BI features such as creating,
automating, analysing and visualisation your company’s data. This solution also works with the
aforementioned Microsoft Power BI, using Power Query and Power Pivot to clean and model
different datasets.
Website: www.clearanalyticsbi.com
Tableau is a Business Intelligence tool specialized in data discovery and data visualization. With
the software you can easily analyses, visualize and share data, without IT having to intervene.
Tableau supports multiple data sources such as MS Excel, Oracle, MS SQL, Google Analytics
and Salesforce. Users will gain access to well-designed dashboards that are very easy to use.
Additionally Tableau also offers several standalone products including Tableau Desktop (for
anyone) and Tableau Server (analytics for organizations), which can be run locally, Tableau
Online (hosted analytics for organizations) and many more.
Website: www.tableau.com
9. Oracle BI
Website: www.oracle.com
10. Domo
Website: www.domo.com
Business Intelligence is the practice of collecting and analyzing data and transforming it into useful,
actionable information. In order to make good business decisions, leaders need accurate insights into
both the market and day-to-day operations. Business Intelligence uses methods and tools like
machine learning to take massive, unstructured swaths of data and turn them into easy-to-use reports.
But how exactly to implement BI into a company? What kinds of BI tools are available? This article
aims to outline the process.
Pitch to Key Players
Because employees of many different departments will be involved in managing the data in business
intelligence, everyone needs to be on the same page before moving forward. Because it is so
important to have a shared understanding, have a look at BI software solutions together to make sure
all of the key people that will be involved have a full understanding.
Choose Tools and Create a Team
The next step is preparation. In order to understand what sort of tool will be needed, defining the
requirements for the new BI system is necessary. Smaller businesses are usually able to utilize a BI
system as-is, while larger companies may need to look at custom solutions. Another important task at
this stage is to gather a team to work on a Business intelligence strategy.
It is important to have a representative from each department who will be involved in its
implementation so that they can simplify communication and provide their own department-specific
insights from the beginning. You need to make sure that all departments are data-friendly and in sync
with each other.
Develop a Strategy
Depending on the industry, a BI strategy will require a variety of aspects. Most will include
documentation of data sources, the KPIs of the specific industry, the kind of reporting necessary, and
whether or not the data flow will require automation. Laying out these components will be helpful
down the line.
Set Up Data Integration
This step is one of the most involved and will require quite a bit of time, as well as a lot of work from
the IT department. Data warehouses, a database that keeps the information in a processed and defined
format, cannot connect directly to information sources, so data integration tools must process the raw
data ahead of time to allow it to be usable. Businesses with large volumes of data may also need
additional technology to keep the processes from running too slow.
Although business intelligence has been around for a couple of decades, the landscape of available
technologies is ever-changing. Rather than just supplying statistical reports, customizable, interactive
interfaces allow for much simpler and more effective collaboration between analysts. The technology
continues to evolve, including cloud-based and mobile platforms