ch 1 Overview of business intelligence, analytics, and decision support – Flashcards
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reporting analysis
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a graphical analysis of the data
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data mining
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techniques to estimate what future behavior is like
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What are the 3 components of a business pressures-responses-support model
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1. business environment factors 2. oganization responses 3. decisions and support
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Business environment's 4 major categories
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1. markets 2. consumer demands 3. technology 4. societal
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the intensity of the business environment factors increases with time
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TRUE
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one of the major objectives of computerized decision support is to....
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facilitate closing the gap between the current performance of an organization and its desired performance
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What is an (EIS) Executive information system
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offers additional visualization, alerts, and performance measurement capabilities
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Business intelligence combines:
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combines: 1. architecture 2. tools 3. databases 4. analytical tools 5. applications 6. and methodologies
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What is BI's major objective
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enable easy access to data to provide business managers with the ability to conduct analysis
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BI helps ______ the data to
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the transformation of data --> info -->decisions --> actions
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BI systems include
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artificial intelligence
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4 major components of BI system
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1. data warehouse 2. business analytics 3. business performance management (BPM) 4. dashboard/interface
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Data warehouse contains the
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source data
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business analytics is
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the tools needed that help the user transform data into knowledge
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BPM is used to
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monitor and analyze performance
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dashboard/user interface is
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the relationship among these components
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What is the main step for converting raw data to decision supporting information
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analysis
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intelligence creation starts by
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identifying and prioritizing specific BI projects
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2 critical partnerships of BI governance is
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1. partnership between functional area heads / product/service leaders(middles) 2.partnership between potential customers and providers
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Process of intelligence creation
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1. create categories and projects 2. define criteria for project selection 3. determine and set framework for managing project risk 4. manage and leverage project interdependencies 5. continually monitor and adjust the composition of the portfolio
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online transactional processing (OLTP)
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systems handle a companys routine ongoing business
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Online analytic processing (OLAP)
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systems are involved in extracting information from data stored by OLTP systems
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SCM and CRM are stored in
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OLTP systems
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a system where computer responds immediately to user request is
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OLTP
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a transaction requires a set of
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2+ db updates
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OLTP is efficient and inefficient in
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EFFICIENT: transaction processing INEFFICIENT: end user ad hoc reports, queries and analysis
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implementing a BI initiative can be
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lengthy, expensive, and failure prone
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What serves as a way to change the manner the company conducts business by improving its business process and transforming decision making processes to be data driven
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Business intelligence
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real time BI is needed to close the gap between operational data and strategic objectives
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TRUE
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traditional BI systems use
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large volumes of STATIC data that has been extracted, cleansed, and loaded into a data warehouse
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analytics
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developing decisions or recommendations for actions based upon insights generated from historical data
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analytics represents the combination of
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computer technology management science techniques statistics
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3 levels of analytics
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1. descriptive/reporting 2. predictive 3. prescriptive
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Descriptive/reporting analytics
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knowing what is happening in the organization and understanding some underlying trends
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examples of descriptive/reporting analytics
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visualization ad hoc reporting trend analysis
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Predictive analytics
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aims to determine what is likely to happen in the future
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examples of predictive analytics
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statistical analysis data mining
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Prescriptive analytics
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recognize what is going on as well as the likely forecast and make decisions to achieve the best performance possible (provide a decision or recommendation for a specific action)
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examples of prescriptive analytics
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management science models solution
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What is big data
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-cannot be stored in a single storage unit -data that is coming from many different forms : (structured, unstructured, in a stream)
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Major sources of big data are
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clickstreams from websites, postings on SM, data from sensors
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What processing technique was applied to process big data
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push computation to the data instead of pushing data to a computing node
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Computerized support is only used for organizational decisions that are responses to external pressures, not for taking advantage of opportunities.
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false
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The use of dashboards and data visualizations is seldom effective in finding efficiencies in organizations, as demonstrated by the Seattle Children's Hospital Case Study.
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false
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In addition to deploying business intelligence (BI) systems, companies may also perform other actions to counter business pressures, such as improving customer service and entering business alliances.
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true
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One of the four components of BI systems, business performance management, is a collection of source data in the data warehouse.
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false
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The two critical partnerships required for BI governance are (a) a partnership between functional area users and/or product/service area employees, and (b) a partnership between representatives of the marketing and vendor sides.
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false
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The success of BI is assured not because of which personnel would be the most likely to use it, but as a result of pervasive adoption across the organization.
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false
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Traditional BI systems use a large volume of static data that has been extracted, cleansed, and loaded into a data warehouse to produce reports and analyses.
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true
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In the Magpie Sensing case study, the automated collection of temperature and humidity data on shipped goods helped with various types of analytics. Which of the following is an example of prescriptive analytics? Select one: a. real time reports of the shipment's temperature b. warning of an open shipment seal c. location of the shipment d. optimal temperature setting
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d. optimal temperature setting
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Which of the following is NOT an example that falls within the four major categories of business environment factors for today's organizations? Select one: a. fewer government regulations b. globalization c. increased pool of customers d. increased competition
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a. fewer government regulations
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In answering the question "Which customers are likely to be using fake credit cards?" you are most likely to use which of the following analytic applications? Select one: a. customer segmentation b. customer profitability c. fraud detection d. channel optimization
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c. fraud detection
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If a company's strategy is properly aligned with DW and BI initiatives, and if the company's IS organization can be made capable of playing its role in such a project, and if the requisite user community is in place and has the proper motivation, then Select one: a. the organization is ready for the introduction of new data-generating technologies, such as radio-frequency identification (RFID). b. business leaders are required to document their business processes and to sign off on the legitimacy of the information they rely on. c. it is wise to start BI and establish a BI Competency Center (BICC) within the company. d. it is no longer necessary to start BI within the company.
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c. it is wise to start BI and establish a BI Competency Center (BICC) within the company.
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How are descriptive analytics methods different from the other two types? Select one: a. They answer "what-if?" queries, not "how many?" queries. b. They answer "what will be?" queries, not "what to do?" queries. c. They answer "what to do?" queries, not "what-if?" queries. d. They answer "what-is?" queries, not "what will be?" queries.
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d. They answer "what-is?" queries, not "what will be?" queries.
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Big Data often involves a form of distributed storage and processing using Hadoop and MapReduce. One reason for this is Select one: a. the processing power needed for the centralized model would overload a single computer. b. centralized storage creates too many vulnerabilities. c. Big Data systems have to match the geographical spread of social media. d. the "Big" in Big Data necessitates over 10,000 processing nodes.
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a. the processing power needed for the centralized model would overload a single computer.
