Business Intelligence Flashcards

Flashcards on Business Intelligence

Data Silo

Information stocks managed by a specific sector, kept isolated from other company systems, hindering accessibility across groups.

Cultural (Data Silos)

Competition or animosity between departments leading to data hoarding.

Structural (Data Silos)

Data silos caused by a separated hierarchy and highly specialized staff in large organizations.

Technological (Data Silos)

Apps not designed to cross-reference or add to each other, creating data silos.

Data Silos limit global view

Limit the global view of data, prevent data sharing between departments.

Data Silos threaten data integrity

Threaten data integrity due to inconsistencies between departmental data.

Data Silos waste resources

Waste resources by storing the same information in different places, increasing storage costs.

Data Silos discourage collaborative work

Discourage collaborative work, preventing departments from sharing data and leveraging new insights.

Data Warehouse

An electronic store where a company or organization generally maintains a large amount of information.

Data Warehousing (DW)

Collecting and managing data from varied sources to provide meaningful business info. at the core of the BI system and is built for data analysis and reporting.

ETL

Extract-Transform-Load: A process Extracting data from source systems and placing it in a data warehouse.

Data Extraction

Obtaining information from different sources, both internal and external, including database systems and applications.

Transformation

Filtering, cleaning, purification, homogenization, and grouping of information using rules to combine the data with other data.

Loading

The process of writing the data to the warehouse.

Metadata

Data that represents other data, like the index of a book.

Summary Data

Statistical records and reports derived from data on individuals.

Raw Data

Unprocessed data.

Relational Database

A type of database that stores and provides access to data points that are related to one another and allows to identify and access data in relation to another piece of data in the database.

RDBMS (Relational Database Management System)

A collection of programs and capabilities that enable IT teams to interact with a relational database using SQL.

SQL: Structured Query Language

A programming language that enables programmers to work with data and allows communication with databases to manage all the data they contain using tabular forms.

KPI: Key Performance Indicator

Performance metrics that measure specific goals for businesses across all sectors, defining direction and helping to optimize performance.

Relevance (KPI)

Indicators should be relevant to the organization.

Clear Definition (KPI)

A performance indicator should have a clear definition to ensure consistent collection and fair comparison.

Easy to understand and use (KPI)

Described in terms that the users of the information will understand.

Comparable (KPI)

Indicators should ideally be comparable on a consistent basis both between organizations and over time.

Cost Effective (KPI)

Balance of the cost of collecting information with its usefulness.

Allow Innovation (KPI)

Should be constructed to allow innovations like alternative methods, systems, or procedures to improve service delivery.

Timely (KPI)

The KPI should be based on data that are available within a reasonable time scale.

Verifiable (KPI)

The indicator should be based on robust data collection systems, and it should be possible for managers to verify the accuracy of information.

Metric

A measurement or numeric value

KPI

Adds substance and weight to the detail, or a tool for making decisions

SMART Goals

Specific, Measurable, Attainable, Realistic, and Time-bound.

Dashboard

A data visualization and analysis tool that displays the status of KPIs and other important business metrics and data points for an organization on one screen.