Summary: Part 1, Les 2: Enterprise Business Intelligence
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Read the summary and the most important questions on Part 1, Les 2: Enterprise business intelligence
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1 Enterprise business intelligence
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1.1.1 3 definities
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Give the three definitions of business intelligence
- The term business intelligence represents the tools and systems that play a key role in the strategic planning process of the corporation.
- Generally these systems will illustrate business intelligence in the areas of customer profiling, customer support, market research, market segmentation, product profitability, statistical analysis, and inventory and distribution analysis to name a few.
- Business intelligence is the process of gathering meaningful information to answer questions and identify significant trends or patterns, giving key stakeholders the ability to make better business decisions.
- The term business intelligence represents the tools and systems that play a key role in the strategic planning process of the corporation.
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1.1.2 3 core meaning
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What are intelligent and knowledge based systems
Knowledge based AI, knowledge representation, reasoning, business rules & decisions, smart processes, knowledge management -
What is knowledge discovery & business analytics
Data-based AI. Data mining, process mining, web mining, text mining, opinion mining, decision mining -
1.2.3 Smart decisions
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What are decisions with high value impact on economic and low volume
M&A, capital investment, strategic marketing positioning -
What are decisions with medium based value impact on economic and medium volume
Product development, customer segmentation, targeting -
What are decisions with low impact on economic and high volume
Loan approval, customer upgrade request -
1.2.7 Ineffective approaches
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What are the five ineffective approaches
- Simple approaches are not enough
- Local databases, SQL, simple spreadsheets
- ERP/CRM reporting and analysis
- Isolated tools
- Home solutions
- Simple approaches are not enough
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What is the problem with local databases
Consistency, security, poor user productivity, limited capabilities, one database only -
What is the problem with ERP/CRM reporting and analysis
One source only -
What is the problem with isolated tools
Diverse user needs, multitude of tools
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