Business Intelligence

Flashcards covering key vocabulary and concepts related to business intelligence, including operational, tactical, and strategic BI, as well as types of business benefits.

Business Intelligence (BI)

Applications and technologies used to gather, provide access to, and analyze data and information to support decision-making efforts.

Operational BI

Business focus is to manage daily operations and integrate BI with operational systems; primary users are managers, analysts, and operational users; time frame is intraday; data is real-time metrics.

Tactical BI

Business focus is to conduct short-term analysis to achieve strategic goals; primary users are executives and managers; time frame is days to weeks to months; data is historical metrics.

Strategic BI

Business focus is to achieve long-term organizational goals; primary users are executives and managers; time frame is months to years; data is historical metrics.

Data Latency

The time duration to make data ready for analysis.

Analysis Latency

The time from which data are made available to the time when analysis is complete.

Decision Latency

The time it takes a human to comprehend the analytic result and determine an appropriate action.

Quantifiable Benefits

A category of BI benefits that can be directly measured and assigned a numerical value.

Indirectly Quantifiable Benefits

A category of BI benefits that are difficult to measure directly but can be inferred from other quantifiable metrics.

Unpredictable Benefits

A category of BI benefits that are unexpected or unanticipated.

Intangible Benefits

A category of BI benefits that are difficult to quantify, such as improved decision-making or increased customer satisfaction.