BUSINESS ANALYTICS 3RD EDITION FINAL
PAPER FULL SOLUTION STUDY GUIDE
◉ Business Intelligence (BI).
Answer: - [broad definition] an umbrella term that combines
architectures, tools, databases, analytical tools, applications, and
methodologies
- [narrow definition] descriptive analytics tools and techniques (i.e.,
reporting tools)
◉ Process of BI.
Answer: - based on the transformation of data to information, then
to decisions, and finally to actions
- mantra -- "right information at the right time and in the right place"
◉ 4 major components of a Business Intelligence (BI) system:.
Answer: 1. DW - a data warehouse, with its source data (a distinct
system that provides storage for data from multiple sources that will
be made use of in analysis)
, 2. BA - business analytics, a collection of tools for manipulating,
mining, and analyzing the data in the data warehouse
3. BPM - business performance management, for monitoring and
analyzing performance and for strategy
4. UI - user interface (e.g., browser, portal, dashboard), for data
visualization
◉ Online Transaction Processing (OLTP).
Answer: - operational databases
- handle a company's routine ongoing business
- Ex: ATM withdrawals, bank transaction, cash register scans
- Goal: data capture
- The very design that makes the OLTP system efficient for
transaction processing makes it inefficient for end-user ad hoc
reports, queries, and analysis
◉ Online Analytical Processing (OLAP).
Answer: - data warehouses --> a distinct system that provides
storage for data from multiple sources that will be made use of in
analysis
- Ex: sales analysis report, fraud report, stock market predictions
- Goal: decision support
PAPER FULL SOLUTION STUDY GUIDE
◉ Business Intelligence (BI).
Answer: - [broad definition] an umbrella term that combines
architectures, tools, databases, analytical tools, applications, and
methodologies
- [narrow definition] descriptive analytics tools and techniques (i.e.,
reporting tools)
◉ Process of BI.
Answer: - based on the transformation of data to information, then
to decisions, and finally to actions
- mantra -- "right information at the right time and in the right place"
◉ 4 major components of a Business Intelligence (BI) system:.
Answer: 1. DW - a data warehouse, with its source data (a distinct
system that provides storage for data from multiple sources that will
be made use of in analysis)
, 2. BA - business analytics, a collection of tools for manipulating,
mining, and analyzing the data in the data warehouse
3. BPM - business performance management, for monitoring and
analyzing performance and for strategy
4. UI - user interface (e.g., browser, portal, dashboard), for data
visualization
◉ Online Transaction Processing (OLTP).
Answer: - operational databases
- handle a company's routine ongoing business
- Ex: ATM withdrawals, bank transaction, cash register scans
- Goal: data capture
- The very design that makes the OLTP system efficient for
transaction processing makes it inefficient for end-user ad hoc
reports, queries, and analysis
◉ Online Analytical Processing (OLAP).
Answer: - data warehouses --> a distinct system that provides
storage for data from multiple sources that will be made use of in
analysis
- Ex: sales analysis report, fraud report, stock market predictions
- Goal: decision support
