Business Intelligence & Data Management - Summary lectures and BI Book

Data
management:
Lecture
1



Data
management

What
is
data
management?
Managing
data
as
a
valuable
resource
in
the
company.
It

manages
all
aspects
of
the
lifecycle
of
data.










The
figure
depicts
the
corporate
information
factory.
Data
is
produced
in
every
unit,
this
is

stored
in
backend
systems
and
data
is
stored
in
databases.
The
left
hand
side
represents
the

databases.
We
are
especially
interested
in
the
data
warehouse.
In
the
Data
warehouse
we

store
the
data
that
is
relevant
for
managerial
decision
making.




Business
intelligence

Business
intelligence
is
an
umbrella
term
that
combines
processes,
technologies
and
tools

needed
to
transform
data
into
information,
information
into
knowledge
and
knowledge
into

plans
that
drive
profitable
business
action.
Information
and
knowledge
that
enables
business

decision-­‐making;
data
driven
decision
making.



Components

•   Data:
items
that
are
the
most
elementary
descriptions
of
things,
events,
activities,

and
transactions.

o   Structured
and
unstructured.
Structured
means
that
there’s
a
data
model

behind
it.
Most
data
is
unstructured
(for
instance
videos
and
sound)
and
is

hard
to
use
for
decision
making.

o   Internal
or
external

•   Information:
organized
data
that
has
meaning
and
value.


•   Knowledge:
processed
data
or
information
that
is
applicable
to
a
business
decision

problem.



Taxonomy

•   Descriptive
analytics:
use
data
to
understand

past
and
present.
The
main
techniques
are

reporting,
SQL
and
the
data
warehouse
itself.

•   Predictive
analytics:
predict
future
behavior

based
on
past
performance.
For
instance,
with

time
series.




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