Week 10- Business Intelligence+Decision Support Flashcards
what is business intelligence
a set of techniques and tools that for the acquisition and transformation of raw data into meaningful and useful info for business analysis purposes
“garbage in…”
“garbage out”
what is data visualization
being able to understand information quickly and easily
what is a dashboard
-a data visualization tool that allow all users to understand the analytics that matter to their business, department, or project
what are some components of Business intelligence
Data warehouse:
-holds data obtained from internal and external sources
Business/data analytics
-creates a report through queries and rules
Business performance management
-determines what effects of managerial changes has on performance
Data Warehouse
- combines current and historical data
- data is refreshed and reloaded periodically
- summarized info
- only supports OLAP
benefits of BI
- deeper insight in business
- improve productivity and efficiency
- informed decision making
- analyze data in a business meaningful way
- optimize cashflow and increase profitability
- etc (more on slide 10 week )
challenges of BI
- garbage in, garbage out
- ensure business acts in information
- siloing of data to help with comprehension and assist with making decisions
- understanding common data mapping amongst systems
desicion making defintion
the act of choosing between two or more courses of action
type of descisons
- structured
- unstructured
- recurring
- non recurring
what does DSS mean
Decision support system
what is a DSS
a highly flexible and interactive IT system designed to support recurring decision making when a problem is structured or unstructured.
