Business Intelligence Systems

Business Intelligence Systems: Information systems that analyze data to identify trends or patterns that can be used by business professionals

What’re the 5 components of Business Intelligence: (HSDPP), the software component of BI is called a “BI Application”

How do organizations use BI? For Informing, deciding, problem solving and project management

  • BI can be used for basic informing (a store manager can use BI to see what products are selling quickly)

What’s BI Analysis: The proccess of creating business intelligence

The Three Primary Activities in The Business Information Proccess is

  1. Acquiring Data

  2. Data analysis

  3. Publishing Data (Publishing Data: Presenting Findings to those who need it, Push Publishing: Providing Data Findings to those even when they dont ask for it, Pull Data: Requires people to request the BI data)

Master data management ensures that all data pulled from all different data sources is uniform and consistent for later analysis

How Organizations use Data Warehouses & Datamarts are used to acquire Data:

Data warehouses are used by larger organizations to manage their BI data. Data warehouses include data thats purchased from outside sources and they…

  • obtain data

  • clean data

  • organize data

  • catalogue data

Difference Between BI Users and Knowledge Workers: BI users specialize in data analysis Knowledge workers don’t but use BI results

Problems with Operational Data:

  • Most operational and purchased data has issues that take away from its usefullness for business intelligence

  • Purchased data often contains missing elements

  • Data can also have the wrong granularity (be too little or too much data)

Data Warehouse VS Data Mart:

  • Data Warehouses are like the distributer in the supply chain, they collect, clean and proccess the data and then put it on the shelves of the data warehouse

  • Data Mart: Smaller than a warehouse, addresses the needs of a particular department or area of business.

  • Users in the data mart get their info from the data warehouse (data warehouse distributes info to the data mart)

Data Lake: A central storing place for large amounts of unstructured data. data lakes are similar to data warehouses but data lakes contain more types of data than data warehouses and can store them in unstructured forms.The are useful for storing data that can be used later by data scientists in machine and deep learning

Data Swamp: Storage of large amounts of data that may never be used

Data Mining: Using stats to identify relationships and patterns among data

Why is AI Important?

AI is the ability of a machine to stimulate human capabilities. AI is important because it’s advancing, becoming more widely used and is becoming apart of organizations strategic advantage

How Does AI and Automation Affect Organizations? AI and Automation increases productivity and decreases costs for organizations as robots don’t require all of the financial matenence and upkeep as humans (overtime, paid leave, stealing etc.)

How will AI Affect ME?

  • Job replacement (replacing humans in the workforce, doing jobs humans dont want to do

  • New job creation (as Ai becomes more prominant there will be more room for people to step in and manage, refine etc it.)

What’s the goal of AI & how does it work?

The goal of AI is to create artificial general intelligence or strong ai to be able to complete the tasks that humans can

  • weak ai: knows less than humans

  • strong ai: equal to human intelligence

  • superintelligence: surpasses human intelligence ]

AI works using machine learning- extracting data and predicting outcomes based on what has previously known to be true