Chapter 1 Flashcards
Business intelligence
An umbrella term that combines architectures tools databases analytical tools applications and methodologies
Data warehouse environment
Technical staff that build the data warehouse and organize, summarize, and standardize data
Business analytics environment
Business users that have aces and can manipulate results
Performance and strategy
Managers/executives and bpm strategies
OLTP
Online transaction processing
Goal:data capture
OLAP
Online analytical processing
Goal:decision support
Analytics
The process of developing actionable decisions or recommendations for actions based on insights generated from historical data
INFORMS
Institute for operations research and management science
Business analytics: descriptive
What happened?
What is happening?
Well defined business problems and opportunities
Business analytics: predictive
What will happen?
Why will it happen?
Accurate projections of future events and outcomes
Business analytics: prescriptive
What should I do?
Why should I do it?
Best possible business decisions and actions
Big data
Data that cannot be stored or processed easily using traditional tools or means
EEE
Exposure, experience, and exploration
