Chapter 1: An Overview of Business Intelligence Analytics and Data Science
1. Decision Support and Analytics
The development of hardware, software, and network capacities has contributed to
facilitating the growth of decision support and analytics in various ways, such as:
a) Group Assembling a group of decision makers, especially experts, in
communication and one place can be costly. Information systems can improve the
collaboration collaboration process of a group and enable its members to be
at different locations (saving travel costs)
b) Improved data Many times it is necessary to transmit data quickly from
management distant locations. Systems today can search, store, and
transmit needed data quickly, economically, securely, and
transparently.
c) Managing giant data Technologies that fall under the broad category of Big Data
warehouses and Big have enabled massive data coming from a variety of sources
Data and in many different forms, which allows a very different
view into organizational performance that was not possible in
the past.
d) Analytical support With more data and analysis technologies, more alternatives can
be evaluated, forecasts can be improved, risk analysis can be
performed quickly, and the views of experts (some of whom
may be in remote locations) can be collected quickly and at a
reduced cost.
e) Overcoming Computerized systems enable people to overcome their
cognitive limits in cognitive limits by quickly accessing and processing vast
processing and amounts of stored information.
storing information
f) Knowledge Knowledge management systems have become sources of
management formal and informal support for decision making to
managers
Technologies such as text analytics and IBM Watson are
making it possible to generate value from such knowledge
stores.
g) Anywhere, anytime Using wireless technology, managers can access information
support anytime and from anyplace, analyze and interpret it, and
communicate with those involved
2. Definition of BI
Business intelligence (BI) is an umbrella term that combines architectures, tools, databases,
analytical tools, applications, and methodologies.
BI’s major objective is to enable interactive access (sometimes in real time) to data, to enable
manipulation of data, and to give business managers and analysts the ability to conduct
appropriate analyses.
By analyzing historical and current data, situations, and performances, decision makers get
valuable insights that enable them to make more informed and better decisions. The process
of BI is based on the transformation of data to information, then to decisions, and finally to
actions.
3. Transaction Processing Vs Analytical Processing
1. Decision Support and Analytics
The development of hardware, software, and network capacities has contributed to
facilitating the growth of decision support and analytics in various ways, such as:
a) Group Assembling a group of decision makers, especially experts, in
communication and one place can be costly. Information systems can improve the
collaboration collaboration process of a group and enable its members to be
at different locations (saving travel costs)
b) Improved data Many times it is necessary to transmit data quickly from
management distant locations. Systems today can search, store, and
transmit needed data quickly, economically, securely, and
transparently.
c) Managing giant data Technologies that fall under the broad category of Big Data
warehouses and Big have enabled massive data coming from a variety of sources
Data and in many different forms, which allows a very different
view into organizational performance that was not possible in
the past.
d) Analytical support With more data and analysis technologies, more alternatives can
be evaluated, forecasts can be improved, risk analysis can be
performed quickly, and the views of experts (some of whom
may be in remote locations) can be collected quickly and at a
reduced cost.
e) Overcoming Computerized systems enable people to overcome their
cognitive limits in cognitive limits by quickly accessing and processing vast
processing and amounts of stored information.
storing information
f) Knowledge Knowledge management systems have become sources of
management formal and informal support for decision making to
managers
Technologies such as text analytics and IBM Watson are
making it possible to generate value from such knowledge
stores.
g) Anywhere, anytime Using wireless technology, managers can access information
support anytime and from anyplace, analyze and interpret it, and
communicate with those involved
2. Definition of BI
Business intelligence (BI) is an umbrella term that combines architectures, tools, databases,
analytical tools, applications, and methodologies.
BI’s major objective is to enable interactive access (sometimes in real time) to data, to enable
manipulation of data, and to give business managers and analysts the ability to conduct
appropriate analyses.
By analyzing historical and current data, situations, and performances, decision makers get
valuable insights that enable them to make more informed and better decisions. The process
of BI is based on the transformation of data to information, then to decisions, and finally to
actions.
3. Transaction Processing Vs Analytical Processing
