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    Data and BI PDF

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    Somak Maitra
    Organizations collect vast amounts of data but struggle to make sense of it and gain useful insights. Business intelligence uses tools like data querying, warehousing, mining, and visualization to transform raw business data into actionable knowledge. By analyzing patterns in transaction data, for example, one retailer discovered that beer and diapers are often purchased together on certain days, allowing it to better plan merchandising. The goal of BI is to help managers make more informed decisions by converting data into meaningful information and knowledge.

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    Data and BI PDF

    Uploaded by

    Somak Maitra
    51 views12 pages
    Organizations collect vast amounts of data but struggle to make sense of it and gain useful insights. Business intelligence uses tools like data querying, warehousing, mining, and visualization to transform raw business data into actionable knowledge. By analyzing patterns in transaction data, for example, one retailer discovered that beer and diapers are often purchased together on certain days, allowing it to better plan merchandising. The goal of BI is to help managers make more informed decisions by converting data into meaningful information and knowledge.

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    Organizations collect vast amounts of data but struggle to make sense of it and gain useful insights. Business intelligence uses tools like data querying, warehousing, mining, and visualization to transform raw business data into actionable knowledge. By analyzing patterns in transaction data, for example, one retailer discovered that beer and diapers are often purchased together on certain days, allowing it to better plan merchandising. The goal of BI is to help managers make more informed decisions by converting data into meaningful information and knowledge.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    51 views12 pages

    Data and BI PDF

    Uploaded by

    Somak Maitra
    Organizations collect vast amounts of data but struggle to make sense of it and gain useful insights. Business intelligence uses tools like data querying, warehousing, mining, and visualization to transform raw business data into actionable knowledge. By analyzing patterns in transaction data, for example, one retailer discovered that beer and diapers are often purchased together on certain days, allowing it to better plan merchandising. The goal of BI is to help managers make more informed decisions by converting data into meaningful information and knowledge.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 12

    Data and BI / Analytics

    Organizations are drowning in data…


     … but lacking in information / knowledge
     Our ability to collect and store data seems to have
    surpassed our ability to make sense of it!
     Important trends:
     Storage capacity continues to rise rapidly
     Cost of storage continues to drop
    What is Business Intelligence?
    A Simple Definition: The applications and technologies
    transforming Business Data into Action

    Fact-based decision making typically involves a subset of the


    following skills/tools…

     Data querying / SQL

     Database design / data warehousing

     Data mining

     Decision support systems / simulations

     Data visualization / Dashboards


    The BI goal

    BI is about using data to


    help enterprise users make
    better business decisions
    BI / analytics in all industries

     A few examples
     Pro Sports
     Oakland A’s, New England Patriots – recruiting
    players
     Dallas Cowboys – merchandising
     Gambling
     Harrah’s  Caesar’s
     Quote from Intel manager:
     “In God we trust, all others bring data”
    - Demming
    Managers value analytics (survey)
    A sample of Oracle BI Customers
    Communications Automotive Finance / Banking Consumer Goods High Tech

    Media / Energy Aero / Industrial Insurance / Health Life Sciences Other


    Exec survey: What Keeps You Up at Night?
    1. SC
    Fragmentation (31%)
    Very High (5)

    1. Lack of Global
    Project
    Resources (12%)
    BI
    1. Collaboration
    & BI (10%)

    1. Commodity
    Price Increase (10%)
    Severity

    1. Global
    Competition (10%)

    1. Power Shift (8%)

    1. Developing
    SCM Talent (7%)
    Low (1)

    1. Regulatory
    Compliance (7%)

    1. IT Integration (5%)

    1. IP (2%)
    Data / information / knowledge

     Data – a collection of raw value elements or


    facts used for calculating, reasoning, or
    measuring.
     Information – the result of collecting and
    organizing data in a way that establishes
    relationship between data items, which
    thereby provides context and meaning
     Knowledge – the concept of understanding
    information based on recognized patterns in a
    way that provides insight to information.
    Famous “Beer and Diapers” BI example
     Consider the follow convenience-store transactional data
    (register sales receipts)
    Famous “Beer and Diapers” BI example
    400

    350
    D177: Diaper
    300
    B675: Beer
    Average Sales

    250

    200 Beer and Diapers


    150

    100

    50

    0
    Mon Tue Wed Thu Fri Sat Sun

     What did managers learn? That beer & diapers are often
    bought by men on Thursday and Saturdays. Why?

     Data  Information  Knowledge (Insight)


    Goal: Convert Data to (Actionable) Knowledge

    Knowledge

    Info
    Increasing
    Value

    Data

    Hard to do in practice – requires commitment/effort.

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