Week 4

Question 1

Difference between BI and BA

Answer 1

BI looks in the rear-view mirror
and uses historical data

BA looks ahead to see what
is going to happen

Question 2

Data vs. Metrics vs. KIs vs. KPIs in BI:

Answer 2

Data vs. Metrics vs. KIs vs. KPIs in BI:

Data: Raw facts and figures without any processing. Example: Daily sales figures.

Metrics: Quantitative measures of data used to track performance. Example: Number of units sold.

Key Indicators (KIs): Important metrics that provide insights into various aspects of the business. Example: Customer satisfaction score.

Key Performance Indicators (KPIs): Metrics that are critical to achieving key business objectives. Example: Monthly recurring revenue for a subscription service.

Question 3

Score Card?

Answer 3

Scorecards in BI are tools for tracking and assessing an organization’s KPIs. They connect daily tasks with strategic goals and measure progress. They feature KPIs, traffic lights for status, and trend indicators to show if targets are met and the direction of progress. They help manage performance and convey strategic data within the company.

Question 4

Traffic Light system?

Answer 4

Circle - satisfactory
Diamond - Neutral
Square - Unsatisfactory