Business Intelligence Vocabulary

Flashcards covering key vocabulary and definitions from an Introduction to MIS lecture on Business Intelligence.

Business Intelligence (BI) Systems

Systems that process operational, social, external data to identify patterns, relationships & trends.

Analytics

Data Presented/Visualized for decision-making, tracking, etc.

Data Science

Statistical Analysis, Building Algorithms for an outcome

Artificial Intelligence

Human Intelligence tasks faster with reduced errors

Machine Learning

Automatically predicting outcomes using data patterns & automated analysis

Deep Learning

Process data objects, speech, languages to learn without human supervision

Conversational AI

Type of AI that simulates human conversation

NLP

Natural Language Processing allows computer to understand & process human language

Data Warehouse

Facility for managing BI data

Data Mart

Smaller, more focused data warehouse, often specific to a business unit or department.

OLAP

Online Analytical Processing. Measures are values like Total Sales and Dimensions are attributes like Geography.

Data Mining

Application of statistical techniques to find patterns & relationships for prediction & classification

Unsupervised Data Mining

Apply the data mining and observe the results, to explain patterns found and then create the hypothesis

Supervised Data Mining

Apply hypothesis prior to analysis & apply statistical techniques to estimate parameters

Market-Basket Analysis

Unsupervised data mining to determine sales patterns. Customers who buy Y, also buy X so creates a cross-selling opportunity

Decision Trees

Hierarchical arrangement of criteria that predicts a classification or a value

Big Data

Characterized not only by Volume, Velocity: Changes rapidly, Variety: Many variations

Hadoop

OpenSource platform working with data sources from multiple processors, used as a baseline platform for many BigData tools today

Knowledge Management (KM) Systems

Process of creating value from intellectual capital & sharing that knowledge with employees, managers, suppliers, customers, etc.

Generative AI

Algorithms that can be used to create new content, including audio, code, images, text, simulations, and videos