Summary: Business Intelligence, Analytics, And Data Science A Managerial Perspective | 9781292220543 | Ramesh Sharda, et al

Read the summary and the most important questions on Business Intelligence, Analytics, and Data Science A Managerial Perspective | 9781292220543 | Ramesh Sharda; Dursun Delen; Efraim Turban; David King

• 1 An Overview of Business Intelligence, Analytics, and Data Science

  This is a preview. There are 7 more flashcards available for chapter 1
  Show more cards here

• Why do we need computerized support of managerial decision making?

  Because the business is becoming more complex and is rapidly changing, making decisions more difficult.
  The time frame for making decisions is shrinking and the global nature of decision making is expanding.

• Describe the BI methodology and concepts

  Bi uses a central repository. The Bi architecture includes a DW, business analytics tools used by end users and a user interface (e.g. dashboard)

• Understand the different types of analytics? What selected applications are there?

  See chapter 1.5; 1.6

• Understand the analytics ecosystem to identify various key players and career opportunities

  See chapter 1.8

• How can we recognize the evolution of computerized support to the current state - analytics/data science?

  tbd

• 1.2 Changing Business Environments and Evolving Needs for Decision Supoort and Analytics

  This is a preview. There are 4 more flashcards available for chapter 1.2
  Show more cards here

• What are some of the key system-oriented trends that have fostered IS-supported decision-making to a new level?

  - Group communication and collaboration software and systems
  - Improved data management applications and techniques
  - Data warehouses and Big Data for information collection
  - Analytical support systems
  - Growth in processing and storing information storage capabilities
  - Knowledge management systems
  - Support of all of these systems that is always available

• Understanding the need for computerised support of managerial decision making

  `Computer applications have moved from transaction processing and monitoring to problem analysis and solution applications, and much of the activity is done with cloud-based technologies, in many cases accessed through mobile devices.
  
  Analytics and BI told such as data warehousing (DW), data mining, online analytical processing (OLAP), dashboards, and the use of cloud-based systems for decision support are the cornerstones of today's modern management. Managers must have high-speed, networked information systems ( wireline or wireless) to assist them with their most important task: making decisions. 

• What are some of the key system-oriented trends that have fostered IS-supported decisions making to a new level?

  • collect and analyze vast stores of data
    
  • move from transaction processing and monitoring activities to problem analysis and solution applications
    
  • cloud based technologies  
    
  • mobile devices
    
  • High speed network, networked information systems, wireless and non-wireless
    
  • analytics and BI-tools 

  in summary:  the growth of hardware, software and network capabilities

• List some capabilities of information systems that can facilitate managerial decision making.

  - Ability to perform functions that allow for better communication and information capture
  - Better storage and recall of data
  - Vastly improved analytical models that can be more voluminous or precise

• How can a computer help overcome the cognitive limits of humans?

  Computer-based systems are not limited in many of the ways people are, and this lack of limits allows unique abilities to evaluate data. Examples include being able to store large amounts of data, being able to run extensive numbers of scenarios and analyses, and the ability to spot trends in vast datasets or models