Business Intelligence And Its Importance By Quontra Solutions

Information about Business Intelligence And Its Importance By Quontra Solutions

Published on September 29, 2014

Author: quontra123



Business Intelligence (BI): Business Intelligence (BI) Overview and Trends What is Business Intelligence?: What is Business Intelligence? Business Intelligence enables the business to make intelligent, fact-based decisions Aggregate Data Database, Data Mart, Data Warehouse, ETL Tools, Integration Tools Present Data Enrich Data Inform a Decision Reporting Tools, Dashboards, Static Reports, Mobile Reporting, OLAP Cubes Add Context to Create Information, Descriptive Statistics, Benchmarks, Variance to Plan or LY Decisions are Fact-based and Data-driven CPU – Content, Performance, Usability: Content The business determines the “what”, BI enables the “how” Performance Minimize report creation and collection times (near zero) Usability Delivery Method  Push vs Pull Medium  Excel, PDF, Dashboard, Cube, Mobile Device Enhance Digestion  “A-ha” is readily apparent, fewer clicks Tell a Story  Trend, Context, Related Metrics, Multiple Views CPU – C ontent, P erformance, U sability How Important is BI?: How Important is BI? Top 10 Business and Technology Priorities for 2011: 1. Cloud computing 2. Virtualization 3. Mobile technologies 4. IT Management 5. Business Intelligence 6. Networking, voice and data communications 7. Enterprise applications 8. Collaboration technologies 9. Infrastructure 10. Web 2.0 Source: Gartner’s 2011 CIO Agenda (aka “ Reimagining IT: The 2011 CIO Agenda”). PowerPoint Presentation: The July 2010 Forrester report “Technology Trends That Retail CIOs Must Tap to Drive Growth” identified the following technologies that retail CIOs should be considering as part of an overall architecture strategy: Mobile Cloud Social Computing Supply Chain Micropayments Business Intelligence/Analytics Why is Business Intelligence So Important?: Why is Business Intelligence So Important? Time With Business Intelligence , we can get data to you in a timely manner. Making Business Decisions is a Balance Data Opinion (aka Best Professional Judgment) In the absence of data, business decisions are often made by the HiPPO. Major BI Trends: Major BI Trends Mobile Cloud Social Media Advanced Analytics PowerPoint Presentation: What BI technologies will be the most important to your organization in the next 3 years? Predictive Analytics Visualization/Dashboards Master Data Management The Cloud Analytic Databases Mobile BI Open Source Text Analytics TDWI Executive Summit – August 2010 Advanced Analytics / Predictive Analytics: Advanced Analytics / Predictive Analytics Data Mining Regression Monte Carlo Simulation “Statistically Significant” Predicting Customer Behavior Churn/Attrition Purchases Profiling BI Today vs Tomorrow: BI Today vs Tomorrow “BI today is like reading the newspaper” BI reporting tool on top of a data warehouse that loads nightly and produces historical reporting BI tomorrow will focus more on real-time events and predicting tomorrow’s headlines Collegiate Admissions Criteria: Collegiate Admissions Criteria Test Scores: SAT, ACT, AP Exams Grade Point Average Class Rank High School “Strength” Extracurricular Activities: Band/Choir, Clubs, Sports Non-School Activities: Work, Volunteer, Community Groups Area of Focus – Intended Major Family legacy Home State or Country Regression Outcome = Graduation (binary) + GPA (linear) 11 Retail Analytics: Retail Analytics Market Basket Analytics Text Analytics Customer Segmentation/Clustering Tailored Product Assortments Inventory Forecasting PowerPoint Presentation: 13 and NetFlix Collaborative Filtering tries to predict other items a customer may want to purchase based on what’s in their shopping cart and the purchasing behaviors of other customers PowerPoint Presentation: 14 What Is Text Analytics? …turning unstructured customer comments into actionable insights …finding nuggets of insight in text data that will improve our business From Wikipedia: … a set of linguistic, statistical, and machine learning techniques that model and structure the information content of textual sources for business intelligence, exploratory data analysis, research, or investigation PowerPoint Presentation: 15 Customer Sat Survey Comments Unstructured Text Processing Facebook Page Blogs Competitors’ Facebook Pages Public Web Sites, Discussion Boards, Product Reviews Alerts, Real-time Action Twitter Page Services Quality Cost Friendliness Email Adhoc Feedback Call Center Notes, Voice PowerPoint Presentation: What is Information Governance? Information Governance Data Stewardship Data Quality Data Governance Master Data Management Data Stewards for Master Data “Hubs” Customer, Vendor, Product, Location, Employee, G/L Accounts PREVENTS Garbage In Garbage Out BY ENCOMPASSING Report Governance Metric Governance 16 CREATING SIGNIFICANT BUSINESS VALUE BI Technologies: BI Technologies Analytic Databases BI is a consolidating industry Oracle: Siebel, Hyperion, Brio, Sun SAP: Business Objects, Sybase IBM: Cognos, SPSS, Coremetrics, Unica, Netezza EMC: Greenplum HP: Vertica Teradata: Aster Data Independent vendors: MicroStrategy, Informatica, SAS Reporting standards determined mainly by Microsoft, Apple and Adobe Teradata Netezza DB2 Oracle SQL Server Vertica Aster Data Par Accel Greenplum Semantic Databases (TIDE) BI Technologies (cont’d): BI Technologies (cont’d) If you want to learn more about Analytic Databases: If you want to learn more about BI in the Cloud: Recommended Reading List: Recommended Reading List Outliers -- Malcolm Caldwell Moneyball -- Michael Lewis The Black Swan -- Nassim Nicholas Taleb Competing on Analytics -- Tom Davenport How to Lie with Statistics -- Darrell Huff Bringing Down the House -- Ben Mezrich Super Crunchers -- Ian Ayres Priceless -- William Poundstone Drilling Down -- Jim Novo The New Rules of Marketing -- Fred Newell

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