Chapter 11, Problem 2RQ

Explanation of Solution

Business intelligence and Business analytics:

Business intelligence refers to technologies, applications, infrastructures and tools that performance a main role in the planning process of the corporation.

• The set-up for analyzing data, reporting, warehousing and combining data from the business atmosphere.
• It gathers, stores, clean and makes appropriate data offered to managers. It consist of databases, data warehouses, and data markets...

Explanation of Solution

Elements of a Business intelligence environment:

1. 1) Data from the business environment:

   Different sources of organized and unorganized data, Internet and mobile devices are combined and used by the people decision makers.

2. 2) Business intelligence infrastructure:

Strong database systems capture the related data kept in transactional databases or combined into an enterprise-data warehouse or unified data marts.

1. 3) Business analytics tools:

Software tools used to examine data and send respond, reports to manager queries and use key pointers of presentation to follow a business growth...

Explanation of Solution

Analytic functionalities provided by Business intelligence systems:

1. 1) Production reports

   The predefined reports are constructed on business agree requirements.

2. 2) Parameterized reports

An Operators enter numerous constraints in a pivot table to screen data and separate effects of the constraints.

1. 3) Dashboards and scorecards

Visual tools is used to presenting records as created by users...

Explanation of Solution

Predictive analytics and location analytics with examples:

Predictive analytics is defined as an extracting data from existing data sets which is used for analysis of statistics, mining and for upcoming expectations to forecast future developments and performance designs. It comprises the skill to develop the future actions and performance for past events.

Two examples of Predictive analytics:

1. 1) Predict age, gender, location and driving records in insurance policy companies to begin appropriate cost of plans.
2. 2) Predict the customer response to the product depends on offers in the product by the retailers...

Explanation of Solution

Types of Business intelligence users:

1. 1) Power users

Nearly 20 percent of employees in the groups of business analysts, IT developers, analytical modelers and super users who producing new analyses, models, reports and forecasts.

1. 2) Casual users

Other 80 percent...

Explanation of Solution

Balanced scorecard method and business performance management:

Balanced scorecard method:

A senior manager can create the outline for operating a secure plan by concentrating on computable results on four views of the performance of organizations. They are business process, customer, financial, growth and learning. This method helps to increase the customer satisfaction, business process efficiency and improvement in the employee activities...