Business Intelligence Exam 1 Review Business Intelligence BI

Business Intelligence & Exam 1 Review

Business Intelligence (BI) • INPUT: Acxiom Corporation collects 300 million individual demographic records. • OUTPUT: Who is going to default on a loan. • Q: How do you process this input to output?

Business Intelligence (BI) System • BI Systems use information technology (hardware, software, but even algorithms) to find patterns, relationships, and trends. • Data (MIS) Information • Information (DSS) Good Decisions • Information (BI systems) Knowledge

BI includes • Reporting Tools – Examples: Pivot Charts & Online Analytical Processing • Data Mining Algorithms – Examples: Apriori Algorithm for finding association rules • Knowledge Management Tools – Examples: – IBM’s email knowledge bank

Review • TPS – Transaction Processing Systems • PCS – Process Control Systems • MIS – Management Information Systems • DSS – Decision Support Systems • EIS – Executive Information Systems • ECS – Enterprise Collaboration Systems

Background People/Machines (TPS) Data People/Machines (PCS) Data & Routine Decisions Data Information (MIS) Info. & Routine Decisions (DSS) Complex Decisions Information (BI systems) Information Data & Info (EIS) (ECS) Knowledge Strategic Decisions Data & Info.

The Big Problem • Old problem: Too much data – figured out some solutions • New problem: Too much information – Moving from info. to knowledge is a bigger problem – Where humans are still needed

What we will learning soon • Pivot Chart Lab & Logic – We will learn how to make accurate predictions (knowledge) given raw data about behavior – Excel will be our tool • Market Basket Lab – We will find the strongest product associations (knowledge) given millions of possibilities (raw data) – Access with be our tool • Large companies pay $millions for sophisticate tools to do these things

What we have done (review part) • Intro Lab – Getting to know the procedures • CMCC Lab – Word is just a document maker – Google Docs is more of an Information System • GIS Lab – First DSS example – Data Information – Tables Maps Reports • Excel Lab – More than just an accounting calculator – A tool for automation and information processing – Searching (vlookup) and logic (if statements)

Things to study • Remember 5, 8, and 6 things