Business intelligence (BI) merges architectures, tools, databases, analytical tools, applications, and methodologies. It also is context free like DSS. BI deduces the connections between business entities by evaluating copious volumes of historical data which supports decisions. BI has four major components consisting of a data warehouse, business analytics, business performance management, and a user interface.
Organizations collect data. This raw data must be analyzed to tease out useful information. The software used to analyze raw data is known as Business Intelligence (BI). BI is comprised of theories and processes such as data mining, online analytical processing, querying and reporting. BI improves decision making, cuts costs and identifies new business opportunities (Mulcahy, 2007). The web data extraction company, Connotate, uses BI systems, specifically dashboards, to focus on more profitable business, saving them time and money while also boosting customer satisfaction rates (6 Real Life., 2013).
Business Intelligence (BI) is the consolidation and analysis of internal data and / or external data for the purpose of effective decision-making. At the core of all BI initiatives is a data warehouse to hold the data and analytics software. The data warehouse stores data from operational systems in the organization and restructures it to enable queries and models to extract decision support reports.
A data warehousing is defined as a collection of data designed to support management decision making. Data warehouses contains a wide variety of data that present a coherent picture of the business conditions at a single point in time. Development of a data warehouse includes development of the systems that extract data from operating systems plus the installation of the warehouse database system that provides managers flexible access to the data. The term data warehousing generally refer to the combination of many different databases across an entire enterprise. (webopidia)
A data warehouse is a large databased organized for reporting. It preserves history, integrates data from multiple sources, and is typically not updated in real time. The key components of data warehousing is the ability to access data of the operational systems, data staging area, data presentation area, and data access tools (HIMSS, 2009). The goal of the data warehouse platform is to improve the decision-making for clinical, financial, and operational purposes.
Design, code and deliver user friendly multi-tier business intelligence solutions that utilize data warehouse/data mining technologies to consume data across various database platforms and data stores.
Many large companies have been using business intelligence (BI) computer software for some years to help them gain competitive advantage. With the introduction of cheaper and more generalized products to the market place BI is now in the reach of smaller and medium sized companies.
Today there is a new data management challenge that is an effective method for integrating enterprise applications. To learn from history and predict the future, plenty of companies are using Business Intelligence (BI) systems. Corporations have understood the significance of intensifying achievements of the objectives defined by their business strategies through business intelligence ideas.
Business intelligence involves techniques based on computers that are used in the identification, extraction, as well as the analysis of business data(Electrosmart Ltd). The business data in this case could be revenue from sales made from given products, could also be sales that a given department has made, or
Enterprise Data Warehouses (EDW) have become the foundation of many enterprises' systems of record, serving as the catalyst of strategic initiatives encompassing Customer Relationship Management (CRM), Supply Chain Management SCM) and the pervasive adoption of analytics and Business Intelligence (BI) throughout enterprises. The role of databases continues to be an ancillary one, supporting the overall structural and data integrity of the EDW and increasing its value to the overall enterprise (Phillips, 1997). The advances made over the last decade in the areas of Extra, Transact & Load (ETL) have made it possible to create EDW frameworks and platforms more efficiently, creating greater accuracy in overall database and data warehouse performance as a result (Ballou, Tayi, 1999). The creation and use of an EDW to further drive an organization to its objectives requires that the differences between databases and data warehouses be defined, in addition to a clear, concise definition of just what data warehouse technologies are. Finally, the relationship between data warehouses and business intelligence (BI) including analytics needs analysis and validation. Each of these three areas are discussed in this analysis.
Business intelligence (BI) is a technology-based procedure for analysing data and giving decision based information to help corporate executives, business managers and other end users make more informed business decisions. BI comprises a variety of tools, applications and methodologies that enable organizations to collect data from different sources such as internal systems and external sources, prepare it for analysis, develop and run queries against the data, and create reports, analytic dashboards and data visualizations to make the analytical results available to corporate decision makers as well as operational workers. Simply put, Business Intelligence is technology process that assists in the conversion of raw data into meaningful information. It helps you analyse the past and come up with the strategy to improve the future. When organizations carry out their day- to -day operation, raw data is generated and mostly stored in a database .This data needs to be analysed and meaningful information extracted from it. Based on this output, come up with future strategy that will grow the company. Making future decisions directly from raw data is impossible as a result there is need for the data to be converted into meaningful data. Management makes use of this information to take fact based decision that will result to a better future. The data used for Business Intelligence analysis comes from OLTP (Online transaction processing).These are daily transaction that takes place
CHAPTER 2: DATA WAREHOUSING Objectives: After completing this chapter, you should be able to: 1. Understand the basic deﬁnitions and concepts of data warehouses 2. Understand data warehousing architectures 3. Describe the processes used in developing and managing data warehouses 4. Explain data warehousing operations 5. Explain the role of data warehouses in decision support 6. Explain data integration and the extraction, transformation, and load (ETL) processes 7. Describe real-time (active) data warehousing 8. Understand data warehouse administration and security issues CHAPTER OVERVIEW Data warehousing is at the foundation of most BI. This is the data warehousing chapter of the book. Later chapters will use it as they discuss DW
Business Intelligence - In today 's hastily changing and competitive business environment, the need for effective business information is acknowledged. It is crucial for companies just not only to succeed, but also to survive. Business intelligence (BI) is refers to a managerial beliefs and a tool that is used in to assist organizations to manage their information in such a way so that decision making can get better. Business Intelligence (BI) has become an important part of corporate business strategies. (Azevedo, Santos) To be efficient in business intelligence companies use various software. BI software helps organizations to gain in-depth insight into their business. These analyses enable organizations to make better decisions and ultimately improve overall business performance. Businesses need information systems to be able to run these analyses.
Business intelligence solutions are very significant to an enterprise performance and capabilities at all levels. They help the business to be more efficient, identify new business opportunities and spot areas of cost savings. Timely access to relevant information has been a hindrance to many business successes. The management is always necessitated to base its decision on the full range of information available but the business always has a huge amount of data (IBM, 2014). Due to the current escalating competition that is eroding the business loyal customers, they are required to install
Business Intelligence is a process of analyzing data. This system is about gathering information from internal and external sourcing. This is for gathering vital information for a business’s needs. The goal of this term is to take hefty amounts of records and put more of a simple structure in place. Business intelligence can give an approach to focus on a direction. I also read that another term for this concept is called data surfing.