To make your decision, you will most likely use: a logical collection of information - gathered from many different operational databases - that supports business analysis activities and decision-making tasks. Business Intelligence online test with 15 practice questions & some sample questions. information systems that process operational and other data toâ¦. EX: Telecommunications looking for the best way to lay cable with over 100,000 connections. Busineâ¦ What does the Data Warehousing Institute estimate that low-quality information costs U.S. businesses annually? _______________ are predictions made on the basis of time-series information. EX: Retail store layouts and sales performances, - reveals the degree to which variables are related and the nature and frequency of these relationships in the information, - performs such functions as information correlations, distributions, calculations, and variance analysis. Business Intelligence The use of IS to gather and analyze information from both external and internal sources to make better decisions, and the data derived from these processes (it is the number one necessities according to CIOs, key players include independent pure play analytic companies such as SAS and MicroStrategy along with larger integrated companies such as IBM, â¦ Check your understanding of business intelligence by using the quiz and worksheet. ", Finds the inputs necessary to achieve a goal such as a desired level of output, - a technique used to divide an information set into mutually exclusive groups such that the members of each group are as close together as possible to one another and the different groups are as far apart as possible. You are trying to determine whether to adopt a new product line. Give an example of Slice and Dice data mining. Predictive analytics is a form of analysis with the use of machine learning â the algorithms analyze historical and current data to make predictions of future outcomes. This Business Intelligence quiz helps you prepare for upcoming interviews, certification tests and other entrance exams. Using key indicators from the data to measure performance, Information that people use to support their decision-making efforts. A process that weeds out and fixes or discards inconsistent, incorrect, or incomplete information. also called and artificial neural network, is a category of AI that attempts to emulate the way the human brain works. An EIS typically contains data from external sources as well as data from internal sources. Why would you need interaction between a TPS and EIS? 6.) special-purposed knowledge-based information system that accomplishes specific tasks on behalf of its users. The ability to look at information from different perspectives, What is drill-down capability? What came to be known as BI tools evolved from earlier, often mainframe-based analytical systems, such as decision support systems and executive information systems. Simultaneous analysis of data from multiple dimensions using different data elements, The common term for the representation of multidimensional information, the process of analyzing data to extract information not offered by the raw data alone, a process that weeds out and fixes or discards inconsistent, incorrect, or incomplete information, Applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts, Reveals the degree to which variables are related and the nature and frequency of these relationships in the information, technique used to divide an information set into mutually exclusive groups such that the members of each group are as close together as possible to one another and the different groups are as far apart as possible, models information to support managers and business professionals during the decision making process, Integrate information from multiple components and tailor the information to individual preferences, Enables users to get details, and details of details, of information, A specialized DSS that supports senior level executives within the organization. (2 points). BI can include data mining, online analytical processing, and business reporting. Add in the data overages or premium services and even a cheap pay-as-you-go system might be too much. Over the last decade, many companies have invested in business intelligence (BI) software to help them gain a better understanding of key business and sales metrics, and to predict future performance. In order to adopt the product, you need to determine how many units you must sell to break even. What Is Business Intelligence (BI)? as a synonym for decision-making BI systems. contains a subset of data warehouse information. This is the fourth course in the Data Warehouse for Business Intelligence specialization. This recent shift has made an array of advanced analytics and AI-powered business intelligence services more accessible to mid-sized and small companies. 3. Business intelligence provides timely information for better customer relationship management. Finds best price out of many retailers, Describe the three quantitative models typically used by decision support systems, Sensitivity Analysis, What-if-Analysis, Goal-seeking Analysis, The study of the impact that changes in one (or more) parts of the model have on other parts of the model, Checks the impact of a change in an assumption on the proposed solution. (2 points). It is â¦ Test Bank (Download only) for Business Intelligence, Analytics, and Data Science: A Managerial Perspective, 4th Edition. Business Intelligence (BI) is a term that dates back to the mid-19th century and had basically the same definition. Not every vendor has transparent pricing either. Business intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis of business information. But as a reference to automated processing of structured data it only appeared in the late 1980s and is thus a still relatively young science. To make your decision, you will most likely use: You are trying to determine whether to adopt a new product line. Software elements support reporting, interactive âslice-and-diceâ pivot-table analyses, visualization, and statistical data mining. audio/video), Something data are collected about, such as people or classes, A collection of related records in a database where each row is a record and each column is an attribute (with unique identifiers such as numbers), A collection of related attributes about a single entity (row), One piece of information about an entity in a database (column), A database management system based on the relational model (may not be able to handle Big Data), Highly-scalable databases that do not confirm to RDBMS schemas (offer much more scalable models with high flexibility), A map or diagram that represents the entities of a database and their relationships (what data will be captured and how it will be represented), The type of an attribute in a database (helps organize and sort the data), A document prepared by database designers to describe the characteristics of all items in a database (attribute, type, values, business rules), The most common language used to interface with databases for non-technical users, The systems that are used to interact with customers and run a business in real time; the data is a current representation of the state of the business; its users are online customers and sales administrators; it performs using narrow and simple updates and queries, Immediate automatic responses to the request from multiple concurrent transactions of customers, A system designed to support decision-making based on stable point-in-time or historical data; its primary users are managers, business analysts, and customers; it's easy to access and use and includes broad and complex queries and analyses, Consolidating master data (most important data in business operations) so as to facilitate arriving at a single version of the truth, A repository containing data from multiple large databases and other sources that is suitable for direct querying, analysis, or processing, A data warehouse that is limited in scope and customized for the decision support applications of a particular end-user group; can be deployed on less powerful hardware (only around 10 gigabytes), A report produced at predefined intervals to support the routine informational needs of managerial-level decision making, A report that provides details behind the summary values on key-indicator or exception report, A report providing users with information about situations that are out of the normal operating range, A report that provides a summary of critical information on a recurring schedule, A request of information due to unplanned information needs that is typically not saved for later use ("ad hoc"), The process of quickly conducting complex analyses of data stored in a database, typically using graphical software tools, The chief component of an OLAP system that understands how data is organized in the database and has special functions for analyzing data, The values and numbers a user wants to analyze, A way to summarize data, such as region, time, or product line, To analyze data at more detailed levels of a specific dimension, To analyze data at less detailed levels of a certain dimension, A data structure allowing for multiple dimensions to be added to a traditional two-dimensional table for detailed analysis, Methods used by companies to discover "hidden" predictive relationships in data to better understand their customers, products, markets, or any other phase of their business for which data have been captured; "Business scientists", A preparatory step to running data mining algorithms, performed by rolling up a data cube to the smallest level of aggregation needed, reducing the dimensionality, or dividing continuous measures into discrete intervals, A data mining technique used to find associations or correlations among sets of items, A data mining technique used to discover associations over time, Data mining technique grouping related records on the basis of having similar attributes, 50 to 80 percent of all enterprise data consist of unstructured and semi-structured data (these must be organized as well); documents can be either ranked, clustered, or networked, Analytical techniques for extracting information from textual documents from textual documents, Extracting textual information from Web Documents, Information about competitors from textual documents that are used to enhance a business' strategic plan, An analysis of a Web Site's usage patterns, such as navigational paths or time spent, A recording of the users' path through a Web site, A Web site's ability to attract and keep visitors, Applications that augment business intelligence by using predictive analysis to help identify trends or predict business outcomes (use of quantitative tools), A special-purpose information system designed to support organizational decision making of recurring problems, An analysis of the effects hypothetical changes to data have on results; examples include breakeven analysis in accounting, return on investment in finance, pricing strategies in marketing, and optimal inventory levels for supply chain, A system comprised of sensors, software, and computers embedded in machines and devices that emulate and enhance human capabilities, The science of enabling IT to simulate human intelligence as well as gain sensing capabilities, A special-purpose information system designed to mimic human expertise by manipulating knowledge - understanding acquired through experience and extensive learning - rather than simply information, A way of encoding knowledge, typically expressed using an "if—then" format, within an expert system, A type of logic used in intelligent systems that allows rules to be represented using approximations or subjective values in order to handle situations where information about a problem is incomplete, The matching of user questions and answers to information in a knowledge base within an expert system in order to make a recommendation, An information system that attempts to approximate the functioning of the human brain, A program that works in the background to provide some service when a specified event occurs, Agents that search to find the best price for a particular product, Agents that keep track of key information, notifying the user when conditions change, Agents that continuously analyze large data to detect changes, Agents that continuously browse the Web for information, Malicious agents designed by spammers to deposit spyware, The use of IS to enhance a person's perception of reality by providing relevant information about the user's surroundings, The process an organization uses to gain the greatest value from its knowledge assets, The set of skills, routines, practices, principles, formulas, methods, heuristics, and intuitions used to improve efficiency, effectiveness, and profitability, A collection of tools that includes communications technologies and info storage and retrieval systems to enable the generation, storage, sharing, and management of tacit and explicit knowledge assets, Attempting to find groups of people to work together, to find people who don't collaborate but should, or to find experts in subject areas, Used to share knowledge collected in a repository with employees, with customers and suppliers, or the general public, Time series, statistical, map, hierarchies, networks, The display of complex data relationships using graphical methods, A display delivering summary info to managers/executives to provide warnings, action notices, and summaries of business conditions, Push reporting (key operation information), exception reporting, and pull reporting (analysis to better understand info), Textual news stories and other non-analytical information, Facts/numbers typically generated by transaction processing systems and management IS, The combination of various analysis techniques and interactive visualizations to solve complex problems, A system for creating, storing, analyzing, and managing geographically referenced information. 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