BU333_midterm.docx - Conner 1 Maralina Conner Professor Pahls BU 333 Midterm 1 Business intelligence and business analytics have different purposes Are

BU333_midterm.docx - Conner 1 Maralina Conner Professor...

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Conner 1 Maralina Conner Professor Pahls BU 333 October 14, 2019 Midterm 1. Business intelligence and business analytics have different purposes. Are these complemen- tary? Discuss. Business intelligence is known as all the processes that represent a business’ structure, processes capabilities, and systems, which allow them the use of large quantities of data to utilize analytics to make decision making processes better. This can provide a business with the best use of their functions, control over their structure as well as the ability to make use of the understanding of the underlying processes and control them effectively. The use of business intelligence has various methods for a business, from utilization of business intelligence software to provide analytical understanding of decisions, discovery of patterns, anomalies or even creating reports to provisioning processes of a data warehouse and also the use of cloud data all encompass what we call business intelligence and for companies that can create the most effective use from their processes, we can say that it provides a better understanding for them as to the payoff from their methods, understanding their customers as well as their performance. The business opportunities that are presented to any organization can be based on a number of factors, but the significant opportunity comes from being able to turn the information provided by the intelligence systems for better actionable processes, leadership and managerial decisions as well as process control for inventory, supplier and logistics management, analyzing their customer, budgeting and protecting, CRM, value chain improvement and therefore, the use of BIG DATA technologies and BI has an enormous implication over the market. It essentially enables a company the ability to maintain functionality by reducing operating costs significantly, making it more effective in its processes in the market, and therefore, we can say that it has implications in the retail market, e-commerce, software industry, etc.
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Conner 2 2. Discuss the purposes of data mining. Data mining is a powerful new technology with great potential to help companies focus on the most critical information in the data they have collected about the behavior of their customers and potential customers. It discovers information within the data that queries, and reports can't conclusively reveal. Data mining, or knowledge discovery, is the computer-assisted process of digging through and analyzing large sets of data and then extracting the meaning of the data. Data mining tools predict behaviors and future trends, allowing businesses to make proactive, knowledge- driven decisions. Data mining tools can answer business questions that traditionally were too time- consuming to resolve. They scour databases for hidden patterns, finding predictive information that experts may miss because it lies outside their expectations. The Advantage of data mining are as
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