Business Intelligence Concepts

A set of vocabulary flashcards detailing key concepts in Business Intelligence.

Operational BI

A type of Business Intelligence focused on managing daily operations and integrating BI with operational systems.

Tactical BI

Conducts short-term analysis to achieve strategic goals.

Strategic BI

Aims to achieve long-term organizational goals.

Data Latency

The duration required to prepare data for analysis, including extraction, transformation, cleansing, and loading.

Analysis Latency

The time from when data are available until the analysis is completed.

Decision Latency

The time taken by a human to comprehend analytic results and decide on actions.

Data Mining

The process of analyzing data to extract information not readily available from raw data.

Data Profiling

The process of collecting statistics and information about data in an existing source.

Data Replication

The process of sharing information to ensure consistency across multiple data sources.

Recommendation Engine

A data mining algorithm that analyzes a customer's purchases and actions to suggest complementary products.

Cluster Analysis

A technique to divide an information set into mutually exclusive groups based on similarity.

What-if Analysis

A technique that examines the impact of changes in variables on a model.

Agile BI

An approach to business intelligence that utilizes agile methodologies to improve BI outcomes.

Quantifiable Benefits

Benefits measured by concrete metrics such as time saved in report generation.

Intangible Benefits

Benefits that include improvements in communication, job satisfaction, and knowledge sharing.

Forecasting Model

A model that predicts future values based on time-series data.

Regression Model

A statistical process for estimating relationships among variables.

Data Mining Process

A structured approach that includes business understanding, data understanding, data preparation, modeling, evaluation, and deployment.