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    Business Intelligence: "Learn As You Grow"

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    Anonymous fa7rg79NA2
    Business intelligence (BI) is defined as the processes, technologies, and tools used to transform data into meaningful and useful information that can help drive profitable business actions. BI encompasses data warehousing, analytics, and knowledge management. It allows organizations to gain insights from their data to more efficiently respond to market conditions, develop differentiated products, and improve business processes. Key components of BI include OLAP for strategic monitoring, advanced analytics for product and service analysis, real-time BI for timely responses, data warehousing for examining trends, and predictive analytics to anticipate future behaviors and events. BI tools provide organizations with a better understanding of their internal operations and external environment to make more informed decisions.

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    Business Intelligence: "Learn As You Grow"

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    Anonymous fa7rg79NA2
    35 views18 pages
    Business intelligence (BI) is defined as the processes, technologies, and tools used to transform data into meaningful and useful information that can help drive profitable business actions. BI encompasses data warehousing, analytics, and knowledge management. It allows organizations to gain insights from their data to more efficiently respond to market conditions, develop differentiated products, and improve business processes. Key components of BI include OLAP for strategic monitoring, advanced analytics for product and service analysis, real-time BI for timely responses, data warehousing for examining trends, and predictive analytics to anticipate future behaviors and events. BI tools provide organizations with a better understanding of their internal operations and external environment to make more informed decisions.

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    Business intelligence (BI) is defined as the processes, technologies, and tools used to transform data into meaningful and useful information that can help drive profitable business actions. BI encompasses data warehousing, analytics, and knowledge management. It allows organizations to gain insights from their data to more efficiently respond to market conditions, develop differentiated products, and improve business processes. Key components of BI include OLAP for strategic monitoring, advanced analytics for product and service analysis, real-time BI for timely responses, data warehousing for examining trends, and predictive analytics to anticipate future behaviors and events. BI tools provide organizations with a better understanding of their internal operations and external environment to make more informed decisions.

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    Download as pptx, pdf, or txt
    35 views18 pages

    Business Intelligence: "Learn As You Grow"

    Uploaded by

    Anonymous fa7rg79NA2
    Business intelligence (BI) is defined as the processes, technologies, and tools used to transform data into meaningful and useful information that can help drive profitable business actions. BI encompasses data warehousing, analytics, and knowledge management. It allows organizations to gain insights from their data to more efficiently respond to market conditions, develop differentiated products, and improve business processes. Key components of BI include OLAP for strategic monitoring, advanced analytics for product and service analysis, real-time BI for timely responses, data warehousing for examining trends, and predictive analytics to anticipate future behaviors and events. BI tools provide organizations with a better understanding of their internal operations and external environment to make more informed decisions.

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    © All Rights Reserved
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    of 18

    BUSINESS

    INTELLIGENCE
    LEARN AS YOU GROW

    What is Business Intelligence?


    Business Intelligence (BI) is:
    The processes, technologies and tools needed to turn data into information and
    information into knowledge and knowledge into plans that drive profitable business
    action. BI encompasses data
    warehousing, business analytics and knowledge
    management.
    The Data Warehouse Institute, Q4/2002

    Business Intelligence is defined as "knowledge gained about a business through the use
    of various hardware/software technologies which enable organizations to turn data into
    information.
    Data Management Review

    According to a recent CEO survey, responding


    efficiently to market conditions & differentiated
    products are their key priorities.
    Rapid Response
    Differentiated
    Products
    Business
    Operational
    Model Efficiency

    Capture and utilize customer information for swift


    decisions

    New Products / Services

    Vehicles to capture customers / consumers


    needs/preferences

    Organization
    Create adaptable processes that allow real time
    response

    IT
    Performance
    Employee Needs

    Track competitor trends and actions

    Strategic Partners
    Sourcin

    Empower front-line employees

    with strategic usage of customer

    of customer
    Iminformation
    pe
    l ment/e
    l veragewCRiMthpro&
    csesprocesses
    stresaanted apgpilicaco
    tias
    nussage
    the key
    enabler

    g Disaster

    information & processes as the key enabler

    Management
    0%

    20%

    40%

    60%

    80%

    Source: IBM Business Consulting Services, The Global CEO Study 2004

    100%

    Other

    0%

    25%

    50%

    75%

    Another recent survey by The Asian Banker


    rates customer knowledge as key capabilities
    for competitive advantage.
    Importance

    What are the key capabilities to achieve a competitive advantange in over the next
    5 years?

    If you could only have one competitive advantage what would it be?
    60.00%

    Innovativ
    e
    Products
    Intelligence
    &
    Information
    Service

    Culture

    Risk
    Managemen
    Sales t

    Distributio
    n
    CRM /
    Customer
    Knowledg
    e

    50.00%
    40.00%
    30.00%
    20.00%
    10.00%
    0.00%

    A Low Cost Base Innovative ProductSservice CustomisationCRM / Customer


    Knowledge

    Survey on strategic information challenges faced by the best


    retail banks in Asia, May 2005

    Business Intelligence (BI) allows us to use data


    strategically in responses to challenges and drive
    profitable business actions.
    Efficiency

    Effectiveness Differentiation
    Business Drivers

    Business Strategies

    Business Initiatives

    Business Intelligence (BI)


    The processes, technologies and tools needed to turn data into
    information and information into knowledge and knowledge into
    plans that drive profitable business action. BI encompasses
    data
    warehousing, business analytics and knowledge
    management.
    The Data Warehouse Institute, Q4/2002

    BI can be thought of as a data refinery


    that turns data into actions and business
    value.
    value

    actions
    insights
    operational systems

    knowledge

    review, measure, refine

    experience
    rules & model
    analytical tools

    data
    investment

    information
    The Data Refinery

    data warehouse

    Components of BI:
    1.

    OLAP (Online Analytical Processing)

    2.

    Advanced Analytics or Corporate Performance


    Management (CPM)

    3.

    Real-time BI

    4.

    Data Warehousing

    5.

    Data Sources

    1. OLAP (Online Analytical


    Processing)
    BI

    allows executives to sort and select


    aggregates of data for strategic monitoring.

    With

    the help of specific software products, a


    certification in business intelligence helps
    business owners can use data to make
    adjustments to overall business processes.

    2. Advanced Analytics or
    Corporate Performance
    Management (CPM)

    This set of tools allows business leaders to look at the


    statistics of certain products or services.

    For instance, a fast food chain may analyse the sale of


    certain items and make local, regional and national
    modifications on menu board offerings as a result. The
    data could also be used to predict in which markets a
    new product may have the best success.

    3. Real-time BI
    In a mobile society, this particular component of BI is
    becoming increasingly popular.

    Using software applications, a business can respond to


    real-time trends in email, messaging systems or even
    digital displays. Because it's all in real-time, an
    entrepreneur can announce special offers that take
    advantage of whats going on in the immediate.

    Marketing professionals can use data to craft creative


    limited-time specials such as a coupon for hot soup on a
    cold day. CEOs may be interested in tracking the time of
    day and location of customers as they interact with a
    website so marketing can offer special promotions in
    real-time while the client is engaged on the website.

    4. Data Warehousing

    Data warehousing lets business leaders sift through


    subsets of data and examine interrelated components that
    can help drive business.

    Looking at sales data over several years can help improve


    product development or tailor seasonal offerings.

    Data warehousing can also be used to look at the statistics


    of business processes including how they relate to one
    another.

    For instance, business owners can compare shipping times


    in different facilities to look at which processes and teams
    work most efficiently.

    5. Data Sources

    This component of BI involves various forms of stored


    data. It is about taking the raw data and using software
    applications to create meaningful data sources that each
    division can use to positively impact business.

    BI analysts using this strategy may create data tools that


    allow data to be put into a large cache of spreadsheets,
    pie charts, tables or graphs that can be used for a variety
    of business purposes. For example, data can be used to
    create presentations that help to structure attainable team
    goals. Looking at the strategic aspect of data sources can
    also help organizations make fact-driven decisions that
    take into account a more holistic view of the needs of the
    company.

    Predictive analytics:

    Predictive analytics processes historical data, learns


    what has happened in the past and creates models.

    These models analyse new sets of data to obtain a


    prediction, or the likelihood that a future event or
    behaviour might occur.

    The goal is to learn from past mistakes and successes


    and from customer comments, options and transactions
    so you know what to change and what to replicate.

    Predictive analytics gives you the glimpse of the future


    that is needed for a more complete picture of your
    business. It can help you determine what customers
    want. You can use it to maximize operational efficiency.

    Business Intelligence Tools

    Intelligence is the product resulting from the collection, collation,


    evaluation, analysis, integration, and interpretation of collected
    information. One of the most important functions of intelligence is the
    reduction of the ambiguity inherent in the observation of external
    activities.

    Business intelligence (BI) tools enable organisations to understand


    their internal and external environment through the systematic
    acquisition, collation, analysis, interpretation and exploitation of
    information.

    Two classes of intelligence tools : front-end and back-end

    The first class of tools is used to manipulate massive operational data


    extract essential business information from them.

    The second class of tools, sometimes called competitive intelligence


    tools, aims at systematically collecting and analysing information from
    the competitive environment to assist organisational decision making.

    Benefits of BI:

    With BI superior tools, now employees can also easily


    convert their business knowledge via the analytical
    intelligence to solve many business issues, like
    increase response rates from direct mail, telephone, email, and Internet delivered marketing campaigns.

    Quickly detect warranty-reported problems to


    minimize the impact of product design deficiencies.

    Discover money-laundering criminal activities.

    Analyse clinical trials for experimental drugs.


    more profitable rates for insurance premiums.

    Reduce equipment downtime by applying predictive


    maintenance.

    Set

    Future of Business Intelligence

    In this rapidly changing world consumers are now


    demanding quicker more efficient service from
    businesses. To stay competitive companies must meet or
    exceed the expectations of consumers.

    Companies will have to rely more heavily on their


    business intelligence systems to stay ahead of trends and
    future events.

    They will come to expect up to date and fresh information


    in the same fashion as they monitor stock quotes online.

    So, in the future, the capability requirements of business


    intelligence will increase in the same way that consumer
    expectations increase.

    THE END

    THANK
    YOU

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