business intelligence: today and tomorrow

8/8/2019 Business Intelligence: Today and Tomorrow

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Today And Tomorrow

By:

Parth Shah 119

Aman Tekriwala - 121

Tushar Jain - 126



» Decision making at different levels Operational

+ Related to daily activities with short-term effect

+ Structured decisions taken by lower management

Tactical

+ Semi-structured decisions taken by middle management

Strategic

+ Long-term effect

+ Unstructured decisions taken by top management

» Decision making steps include Problem identification,

Finding alternative solutions,

Making A choice

» Information and knowledge form the backbone of the decision

making process



» Expert knowledge Contextual, distributed among A few experts having extensive

training and/or Experience.

» Organizational knowledge

Represents intricate relationships between components of an

organization. Embodies all the human knowledge embedded within the

organization.

Captures other implicit knowledge as well.

» Organizational knowledge is embedded in the transactional data.

» Knowledge acquisition Knowledge elicitation (experts) and knowledge discovery

(data).

Interviewing/observing a human expert and data mining for

identifying basic rules



» Advantages

Not dependent on one expert

Based on actual performance

» If the expert made wrong decisions, those failures are pruned out

Potentially, can capture all relevant knowledge» Not just in-human knowledge

Objective, not subjective

Well understood in theory and practice

» Disadvantages

Depends heavily on the data set used

» Noise in the data set can throw one off, GIGO

Based on historical data

»

The underlying basic rule (theory) may never be discovered



» Business Intelligence is the processes,

technologies, and tools that help us change

data into information, information into

knowledge and knowledge into plans that guide

the Organization.



» The technology for understanding the past & predicting the future

» A broad category of technologies that allows for

Gathering, storing, accessing & analyzing data to help businessusers make better decisions

Analyzing business performance through data-driven insight

» A broad category of applications, which include the activities of

Decision support systems Query and reporting

Online analytical processing (OLAP)

Statistical analysis, forecasting, and data mining.



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



» Mission-critical and integral to an enterprise's operations or

occasional to meet A special requirement.

» Enterprise-wide or local to one division, department, or project.

» Centrally initiated or driven by user demand.



» In 2009, collaborative decision making emerged as a new

product category that combined social software with BI Platformcapabilities.

» Today, 20% of organizations have an industry-specific analytic

application delivered via software as a service (SaaS) as a

standard component of their BI portfolio.

» Through 2012, more than 35 % of the top 5,000 global

companies will regularly fail to make insightful decisions about

significant changes in their business and markets.

» By 2012

Business units will control at least 40% of the total budget for

BI.

One-third of analytic applications applied to business

processes will be delivered through coarse-grained

application mashups.

business intelligence: today and tomorrow

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