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BUSINESS INTELLIGENCE AND DATA WAREHOUSING
INTRODUCTION:
Business Intelligence (BI) is about getting the right information, to the right decision makers, at the right time. BI is an enterprise-wide platform that supports reporting, analysis and decision making. Technologies for gathering, storing, analyzing and providing access to data to help enterprise users make better business decisions.
Data Warehouse (DW): An integrated, centralized, historical, relational database and the related software used to collect, cleanse, transform and load data from a variety of operational sources for reporting and analysis by business professionals.
Data mining is applying models and methods to data to identify patterns and trends. Statistical, mathematical, iterative, scalable, artificial intelligence and machine-learning techniques
• Automatic and fast
• Tools look for patterns
– Simple models
– Intermediate models
– Complex Models
Business intelligence Applications:
Ad Hoc Query & Reporting, Enterprise Reporting, OLAP – Online Analytical Processing, Statistical Analysis, Data Mining, “What If” Modeling & Forecasting, Analytical Applications, Dashboards and Scorecards. No single solution can address all business needs. No true real estate vertical product is available.
ABC’s of Business Intelligence:
Access-Connect people with enterprise resources
Business Intelligence-Provide usable and actionable information.
Collaboration-Support business processes, productivity and interaction between internal and external clients.
Increased use of dashboards offering interactive drill down capabilities. Improved integration with live data for greater real time decision making. Business Intelligence tools are driving deeper into the organization hierarchies leading to process changes.
Employees with deeper analytical skill will be more valuable as data is unchained from transaction systems. Mining of data stored in Web-enabled warehouse
Conclusion:
In order for the business to stay relevant, competitive, effective and lead the market space it is imperative that enterprises across the world adopt BI solutions. Important BI success factors: Strategic purpose, Buy-in, Context. Improve customer service. Improve decision making process. Future benefits can be derived from excess capacity to handle growth. It’s a competitive advantage. It’s the difference between survival and failure.