Chapter 9 - Business Intelligence

Question 1

What is BI and where is it used?

Answer 1

BI stands for Business Intelligence (aka Analytics) and is a set of methodologies, processes, architectures and tech that transform raw data into useful info used to enable more effective strategic and insightful decision making.

BI is used everywhere, more so in digital marketing and is estimated to from from $12B in ‘14 to $120B in 2026

Question 2

How and where is BI used?

Answer 2

here are 3 examples:
- purchasing patterns–amazon & predictive behavior (Many YouTube Videos), Target Video

Entertainment: Godzilla, House of Cards, Netflix

Question 3

What are BI Primary Activities?

Answer 3

Acquire, Analyze, and Publish–the process of obtaining, cleaning, organizing, relating, and cataloging source data

ie. Axicom

Question 4

What is Data Visualization

Answer 4

any effort to help people understand the significance of data by placing it in a visual context. Patterns, trends, and correlations that might go undetected in text-based data can be exposed and recognized easier with data visualization

Question 5

Give one example of data visualization

Answer 5

If scientists had used data visualization they would have seen that the O-ring freezes at cold temperatures and could’ve delayed the launch