Topic 7 Business intelligence

Topic 7 Business intelligence - Topic 7: Business...

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Topic 7: Business Intelligence MIS concepts (Knowledge and Comprehension) Business Intelligence is a series of analytical tools works with data stored in databases to find patterns and insights for helping managers and employees make better decision to improve organizational performance. BI technologies provide historical, current, and predictive views of business operations. Common functions of Business Intelligence technologies are reporting, online analytical processing , analytics , data mining , business performance management , benchmarking , text mining , and predictive analytics . Analysis The problems of managing data resources include: Problems with File-based system Problems with databases Data Redundancy There may be redundancy of data because same piece of information is collected, stored and updated in different functional areas. Variety of nonintegrated data sources and formats There are variety of formats of database and spreadsheet and managers are forced to make decision from fragmented data and incomplete database. Program-Data Dependence Changes in data requires change in programs, hence incur expensive cost. Legacy system Data in legacy system may not be available online or query. Data Integrity and Consistency Data redundancy may cause the data lack of integrity. Inconsistent and unstable data Errors and duplicate entries are not suitable for business analyst. Limited Data-sharing and Availability Pieces of information exist in different files and different part of the organization, thus limit the sharing and retrievability. Lack of historical data Missing data makes trend analysis more difficult. Poor Security There is lack of security for files because there is no password or ID set to protect the confidentiality. Less flexible reporting Due to less consistent and standardized format of data, as well as lack of historical data and trend analysis, the reporting
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become difficult. Application ÆON CO. (M) BHD. (formerly known as Jaya Jusco Stores Bhd.) with a total revenue of RM1.78 billion has selected PeopleCo Enterprise Intelligence Portal™ as their Enterprise Business Intelligence Solution, the suite of intergrated enterprise analytic applications from
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Topic 7 Business intelligence - Topic 7: Business...

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