Week 2 Flashcards
What are BI systems enhanced with?
Additional visualizations, alerts and performance measurements capabilities
What is BI an evolution of and what is the difference between now and the past with usage?
BI is an evolution of decision support concepts over time, now everybody can use information systems where before these were only for executives.
What is the main objective of BI?
The main objective is to enable easy access to data and business managers to analyze it.
What does BI help with?
It helps to transform data into information, to improve decisions, and finally to implement action.
What are the 4 components of BI systems?
- Data warehouse with source data
- Business analytics (tools)
- Business performance management (BPM) = monitoring & analyzing performance
- A user interface (dashboard)
Who/what is DSS oriented towards and who is BI oriented towards?
DSS towards analysts
BI towards executive and strategy orientation
What kind of solution does DSS result in?
A customized solution for very unstructured problems
What is OLTP (online transaction processing)
Term used for transaction processing systems such as ERP, CRM, POS etc. for capturing and storing data.
What are OLTP (online transaction processing) used for?
OLTP is used to process routine operational business tasks and focus on processing and recording data in operational database systems.
What is OLAP (online analytical processing) and what is it used for?
OLAP is used for converting data into information for decision support. Focus is on analyzing data stored in a data warehouse through data cubes, drill-down / rollup, slide & dice etc.
What is an OLAP Cube?
A Cube in OLAP is a multidimensional data structure (actual or virtual) that allows fast analysis of data.
What is the list of OLAP operations?
Slice
Dice
Drill down/up
Roll up
Pivot
What is slice?
subset of a multidimensional array (multiple years + categories –> 1 year + categories)
What is dice?
A slice on more than two dimensions
What is drill down/up
navigating among levels of data
What is roll up?
Computing all of the data relationships for one or many dimensions.
What is Pivot?
Used to chance the dimensional orientation of a report or an ad hoc query-page display.
What 3 elements is Business Analytics usually categorized as?
Descriptive analytics
Predictive analytics
Prescriptive analytics
What is Big Data?
Big Data is the information asset characterized by such high volume, velocity and variety to require specific technology and analytical methods for its transformation into value.