Unit 14: Business Intelligence, Risk Management, and Scenarios pgsql Copy Edit

Business Intelligence

Insights derived from analyzing data, including behavioral and sentimental patterns.

Sentiment Analysis

A subfield of AI (NLP) that determines emotional tone in text (positive, negative, neutral).

Bayes Theorem

Calculates the probability of an event based on prior knowledge: P(A|B) = [P(A) × P(B|A)] / P(B).

Naïve Bayes Classifier

A simplified version of Bayes Theorem used for predictive modeling (e.g., weather decisions).

Risk Management

Identifying and minimizing risks in business systems through assessment and mitigation.

Risk Likelihood

Probability of a risk occurring (rated 1–5: not likely to near certainty).

Risk Consequence

Impact magnitude if a risk occurs (technical, schedule, or cost impact).

Risk Chart

A matrix mapping risks by likelihood and consequence to prioritize mitigation.