Decision Making and Business Intelligence

Batch processing - systems wait until it has a batch of transactions before the data are processed and the information is updated e.x., transfer of all daily branch transactions to the central office for processing Big Data - large amounts of varied data from a variety of sources over a period of time could be used to make better decisions Business Intelligence (BI) system - provides information for improving decision making 5 categories are: - Group decision support systems (GDSS) - Reporting systems - Data-mining systems - Knowledge-management (KM) systems - Expert systems Cluster analysis - identify groups of entities that have similar charcateristics Data Mart - a data collection created to address particular components of a functional area: - Business function - Problem - Opportunity Data mining - the application of statistical techniques to find patterns and relationships among data and to classify and predict