BUSINESS INTELLIGENCE SYSTEM: information system that process operational, social and other data to identify patterns, relationships, and trends for use by business professionals and other knowledge workers.
Project management>problem solving> deciding> informing
USES FOR BI:
-identify changes in purchasing patterns ( important life events change what customers buy), -entertainment (netflix has data watching,listening, and rental habits)
-predictive policing ( analyze data on past crimes - location,date, time, day of week, type of crime,and related data.)
JUST IN TIME MEDICAL REPORTING:
-example of real time data mining and reporting
-injection notif services (software analyzes patient’s record, if injections needed, recommends as exam progresses
-blurry edge of medical ethics.
WHAT ARE THE 3 PRIMARY ACT PROCESS?
Decision support systems: a synonym for decision making BI systems.
Data sources: op databases, social data, purchased data, employee knowledge.
-Data acquisition: the process of obtaining, cleaning, organizing, cataloging source
*extracted order data> query (Sales, Units, Part) customer name, contact title, bill year, number orders, units, rev, ect)
-Perform analysis: reporting, data mining, big data, knowledge, management
-Publish results: print, web servers, reports servers, automation
Push: delivers business intel to users without any request from users
Pull: requires users to request BI results
BI analysis: The process of creating business intelligence
Data broker or data agggegator: acquires and purchases consumer and other data from public records, retailers, internet cookie vendors, social media trackers,and other sources.
HOW DO ORG USE DATA WAREHOUSE AND DATA MARTS TO ACQUIRE DATA
-Data warehouse: a facility for managing an organization’s BI data . Function: obtain data, cleanse data, organize and relate data, catalog data
Granularity: level of detail represented by the data
HOW DO ORG USE REPORTING APP?
-Create meaningful info from disparate data sources, deliver info to user on time
-a BI app that input data from one or more sources and applies -reporting operations to that data to produce business intelligence.
-sorting, filtering, grouping, calculating, formatting
RECENTLY FREQUENTLY MONEY: ANALYSIS
RFM: a technique readily implemented with basic reporting operations, is used to analyze and rank customers according to their purchasing patterns.
-Online analytical process (OLAP): a second type of reporting application, is more generic than RFM. OLAP provides the ability to sum, count, average, and perform other simple arithmetic
-Operation on groups of data. OLAP report has measures and dimensions.
Measure: the data item of interest. Ex: total sales, average sales, average costs
Dimension: char. Of a measure. Ex: purchase date, customer type, customer location, and sales region are all examples of dimensions.
-Drill down in the data: further divide the data into more details.
-Data mining: the app of statistics techniques to find patterns and relationship among data for classification and prediction.
UNSUPERVISED DATA MINING:
-No prior hypothesis or model
-finding obtained sole by data analysis
-hypothesized model created to explain patterns found.
EX: Cluster analysis: unsupervised technique. Find groups of similar customers from customer order and demographic data.
SUPERVISED DATA MINING
-data miners develop a model prior to analysis and apply statistical techniques to data to estimate parameters of the model.
-Regression analysis: measure the effect of a set variables on another variable
-EX: cellphone weekend minutes (12+cus age) (NUm monthsof acc)
-Neutral networks: another popular supervised data mining app used to predict values and make classification such as good prospect or poor prospect.
MARKET BASKET ANALYSIS: Identify the following:
-an unsupervised data mining technique for determining sales patterns.
-sales pattern in large volume of data
-what products cus tend to buy together
-computes probability of purchases
-cross selling opp
Cross- selling: in marketing transaction, customers who buy product X also buy product Y creates a cross sell opportunity.
Support: probability that two items will be purchased together.
Confidence: conditional probability
DECISION TREE
-a hierarchical arrangement of criteria that predict a classification or a value.
-Unsupervised data mining technique.
-Basic idea
-Create decision rules
Big data: describe data collections that are characterized by huge volume, rapid velocity, and great variety.
Mapreduce: a technique for harnessing the power of thousands of computers working in parallel.
KNOWLEDGE MANAGEMENT (KM):
-process of creating value from intellectual capital and sharing that knowledge with employees, managers, suppliers, customers, and others who need that capital.
-Benefits: improve process quality, increase team strength, goals: enable employees to use org collective knowledge
EXPERT SYSTEM: rule based systems that encode human knowledge in form of IF then rules. Ex: if patient SEX=’Male’ THEN add 3 to cardiacriskfactor
-challenge: difficult and expensive to develop, difficult to maintain, don’t live up to expectations.
Expert systems shell: program that process a set of rules.
CONTENT MANAGEMENT SYSTEMS (CMS): IS that support the management and delivery of documents including reports.
Challenges: huge databases, dynamic content, documents refer to one another perishable contents, in many languages
Alternatives: In house custom development, off the shelf, public search engine.
HOW DO HYPER SOCIAL ORG MANAGE KNOWLEDGE?
Hyper-social knowledge management: the app of social media and related app for the management and delivery of org knowledge resources.
Hyper- org theory: framework for understanding KM, focus shift from knowledge and content to foster authentic relationship among knowledge creators
Rich directory: an employee directory that includes not only the standard name, email, phone, and address but also org structure and expertise.
Static report: BI docs that are fixed at the time of creation and do not change
Dynamic reports: BI documents that are updated at the time they are requested.
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