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Chapter Six:: Business Intelligence and Analytics

The document discusses business intelligence and analytics. It defines business intelligence as collecting, storing and analyzing past business data to identify trends and support decision making. Business analytics focuses more on interpreting data to predict future patterns and help strategize and improve operations. Knowledge management is also discussed as the process of collecting, organizing and sharing knowledge within an organization to enhance performance and efficiency. The key aspects of knowledge management include accumulating, storing and sharing tacit, implicit and explicit knowledge.

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332 views12 pages

Chapter Six:: Business Intelligence and Analytics

The document discusses business intelligence and analytics. It defines business intelligence as collecting, storing and analyzing past business data to identify trends and support decision making. Business analytics focuses more on interpreting data to predict future patterns and help strategize and improve operations. Knowledge management is also discussed as the process of collecting, organizing and sharing knowledge within an organization to enhance performance and efficiency. The key aspects of knowledge management include accumulating, storing and sharing tacit, implicit and explicit knowledge.

Uploaded by

yoantan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Chapter Six:

Business Intelligence and Analytics

Andualem T.

05/18/2022 Fundamental of Information System 1


Business and Analytic Intelligence?
• Business intelligence and analytics are data management
solutions implemented in companies and enterprises to collect
historical and present data, while using statistics and software
to analyze raw information, and deliver insights for making
better future decisions.
• The most straightforward and useful difference between
business intelligence and data analytics boils down to two
factors:
– What direction in time are we facing; the past or the future?
– Are we concerned with what happened, how it happened, or why it
happened?

05/18/2022 Fundamental of Information System 2


What are Business Intelligence?
• Business intelligence is the process of collecting, storing and analyzing data
from business operations. BI provides comprehensive business metrics, in near-
real time, to support better decision making. You can create performance
benchmarks, spot market trends, increase compliance, and improve almost
every aspect of your business with better business intelligence
• It deals with what happened in the past and how it happened leading up to the
present moment. It identifies big trends and patterns without digging too much
into the why’s or predicting the future.
• It deals with the why’s of what happened in the past. It breaks down contributing
factors and causality. It also uses these why’s to make predictions of what will
happen in the future.
• It can be described as the sets of information provided through data analysis and
knowledge management, which can inform decision makers on areas for
response. This can be in relation to emerging external trends or changing
internal performance demands. 
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Benefit of Business intelligence?

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Business Analytic
• Business analytics (BA) is vital to utilizing business intelligence to its full
potential by working to interpret data to predict future patterns based
on current data.
• It is great for companies looking to improve or change their current
operations and make better decisions for the future.
• It can be used to strategize, recognize sales and market opportunities,
improve relationships with customers, better indicate potential risks and
decrease threats based on the analysis of why things happened in the past and
if something will occur again.
• Like business intelligence, BA collects and analyzes data, employs predictive
analytics, and generates richly visualized reports in custom dashboards
• Business analytics software is used to explore and analyze historical and
current data. It utilizes statistical analysis, data mining and quantitative
analysis to identify past business trends.
– BI + BA = Business Success
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Business Intelligence Vs Business Analytics
Business intelligence Business Analytics

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Knowledge Management
• Knowledge management: the process of collecting and curating
knowledge and connecting people to it so they can act effectively
• Knowledge management can improve coordination and enhance
meaningful learning, collaboration, and application
• Knowledge management is the conscious process of defining,
structuring, retaining and sharing the knowledge and experience of
employees within an organization.
• the objective of knowledge management is to enhance
organizational competitiveness, improve performance, the sharing
of lessons learnt, and the continuous improvement of the
organizational processes.
• Generally the main goal of knowledge management is to improve an
organization's efficiency and save knowledge within the company.
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Knowledge Management
 3 main areas of knowledge management
– Accumulating knowledge
– Storing knowledge
– Sharing knowledge

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Types of knowledge
 knowledge management also includes three types of knowledge: tacit, implicit, and explicit
knowledge.
• Tacit knowledge: This type of knowledge is typically acquired through experience, and it
is intuitively understood. As a result, it is challenging to articulate and codify, making it
difficult to transfer this information to other individuals. Examples of tacit knowledge can
include language, facial recognition, or leadership skills.
• Implicit knowledge: While some literature equivocates implicit knowledge to tacit
knowledge, some academics break out this type separately, expressing that the definition of
tactic knowledge is more nuanced. While tacit knowledge is difficult to codify, implicit
knowledge does not necessarily have this problem. Instead, implicit information has yet to
be documented. It tends to exist within processes, and it can be referred to as “know-how”
knowledge.
• Explicit knowledge: Explicit knowledge is captured within various document types such as
manuals, reports, and guides, allowing organizations to easily share knowledge across
teams. This type of knowledge is perhaps the most well-known and examples of it include
knowledge assets such as databases, white papers, and case studies. This form of knowledge
is important to retain intellectual capital within an organization as well as facilitate
successful knowledge transfer to new employees.
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Knowledge management process
In organizing the knowledge management for an organization, there is a four-step knowledge
management process that can be followed.
1. Discovery
– How will knowledge inside the organization be discovered?
– In every organization, there are multiple sources of knowledge.
– In this step of the process, the sources of knowledge are identified, as well as where critical knowledge is kept, what can be learned from this knowledge
and if there are areas in which knowledge can be lost during the process.
– The discovery process is helped by a solid understanding of the knowledge flow of the organization.

2. Capture
– How will new and existing knowledge be stored?
– Every organization contains a vast amount of knowledge, and it must be stored and organized in a deliberate manner.
– By creating a system that is mapped and categorized, knowledge is more easily accessed and the organizational structure is increased.
– This can include scanning documents, using metadata and indexing.

3. Process
– How best can this knowledge be synthesized and incorporated?
– This step involves a deep analysis of the knowledge gathered in the previous two steps.
– The organization must organize and assess the knowledge to see how best it can be folded into the structure of the organization.
– This step is when an organization should be establishing and promoting a cultural shift toward knowledge sharing and  developing employees to be
innovators.

4. Share and benefit


– How best can individuals within the organization access this knowledge?
– The point of knowledge management is to enable easy access to knowledge within the organization.
– Building a system that works is the first step, but individuals need to understand how to use that system.
– Implementing training programs can help increase the understanding of knowledge management systems.
– Once the system is being used, the company benefits from increased efficiency, better decision making, and more innovative employees.
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Fundamental of Information System
Knowledge management process

Artificial Intelligence ??
Reading Assignment !!

05/18/2022 Fundamental of Information System 11


Thank You

?
05/18/2022 Fundamental of Information System 12

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