: inputs to create a data store (ex: extract relevant customer data from various data silos)

major software companies; BI moved beyond being primarily a reporting system when sophisticated predictive analytics, event-driven alerts, and operational decision support were added

1. increase customer loyalty and satisfaction

2. improve growth strategies

3. discover process inefficiencies

4. optimize resource allocations

5. identify and respond to adverse situations before they affect performance

branch of data mining that focuses on forecasting trends (ex: regression analysis) and estimating probabilities of future events; also provides models which are formulas or algorithms and procedures to BI (algorithm is a set of rules/instructions for solving a problem in a finite # of steps)

real time alerts or warnings that are broadcast when a predefined event, or unusual event, occurs; alerts require real time monitoring to know when the event of interest has occurred; can be built into a bus process/application -- the results would be presented in a web-based dashboard

ensure that day-to-day operations are running correctly and efficiently

: ensure that existing operations and processes are in alignment with bus objectives and strategies

create a road map for sustained success and bus growth

regarding inventory, customers, sales numbers etc and put them into data warehouse. in this DW, tables can be linked, and data cubes (aka multi-dimensional databases) are formed

collection of software and tools BI solutions to improve decision making and data delivery must be able to access: transaction processing systems, e-bus and e-commerce processes, operational platforms, and databases

1. data extraction and integration

2. enterprise reporting systems

3. data mining, ad hic and pllanned queries and analysis tools

provide standard, ad hoc, or custom reports that are populated with data from a single trusted source to get a single version of truth; users can create their own reports if they have easy access to necessary data - reduces costs, improves control and reduces data latency (the speed with which data is captured)

routine op reports are generated automatically and distributed periodically to internal and external subscribers on mailing or distribution lists (ex: weekly sales figure, monthly hours worked)

dashboards and scorecards

provide easy to use access to enterprise data and help companies track bus performance and optimize decision making -dashboard users are typically supervisors and specialists, where as scorecard users are managers, execs, and staff. dashboards can be designed to support marketing or other functions;  track progress toward green marketing improvement

framework for defining, implementing, and managing an enterprise's bus strategy by linking objectives with factual measures --a way to link top-level metrics, such as fin info created by CFO with actual performance all the way down the corporate pecking order

for each of the 4 sales regions, what was the percent change in sales rev per quarter per year compared to same quarters for past 3 years? -- this query identifies the data (sales rev) user wants to examine

any query that cannot be determined prior to the moment the query is issued; allow users to request info that is not available in periodic reports, as well as to generate new queries or modify old ones with significant flexibility over content, layout and calcs

; with text mining,

customer and product data mgmt

describes knowledge discovery in databases; uses info to extract and identify useful info and subsequent knowledge from large databases, including data warehouses

1. client/server architecture or a web-based arch

2. miner is often an end-use

3. sometimes necessary to use parallel processing or supercomputers

extensively use data mining . ex: data mining techniques are well-suited to analyze fin time series data to find patterns, detect anomalies and outliers etc.

: rarely structured; helps orgs:

1. find hidden content of docs, including additional useful relationships

2. relate docs across previously unnotices divisions

3. group docs by common themes

application of data mining techniques to discover actionable and meaningful patterns, profiles and trends from Web resources ; used in info filtering (emails, magazines, newspapers), surveillance (of competitors, patents, tech development), mining of web access logs for analyzing usage (clickstream analysis), assisted browsing, and services that fight crime on the internet

web-usage mining 

component of web mining that sifts through data to identify patterns of behavior that suggest what offers customers might respond to in the future, or which customers you might be in danger of losing

interpersonal roles, info role, decisional role

1. many decisions must be made under time pressure

2. too many alternatives, scenarios, and risks to consider

support primarily analytical, quantitative types of decisions

support informational roles of execs

: resolving the original problem/ opportunity

simplified representation/abstraction of reality : ex is making assumptions

1. cost of virtual experimentation is much lower than the cost of experimentation conducted with a real system

2. models allos for the simulated comrpession fo time

3. manipulate model by changing variables easier than real system

models enhance learning and support training

routine and repetitive problems for which standard solutions exist; clearly defined

ex: bus procedures, cost minimization, profit max and algorithms

rely on intuition and experience; uncertainty e=involved

ex: hiring an exec, predicting markets

require combo of standard solution procedures and indy judgment

ex: trading bonds, setting market budgets

have a high level of structure (ex: make or buy decision)

view that managers can follow a fairly systematic process for solving problems so it is possible to use a scientific approach to managerial decision making --attempt to find the best possible solutions= optimization

1. new and accurate info was needed

2. tracking company's numerous bus operations was difficult

3. company operating in an unstable economy

4. increase foreign and domestic competition

5. end-user computing movement

1. easy execution of sensitivity analysis

2. adapatble for use over time to dela with changingg conditions

3. provides support for decision makers at all mgmt levels

small changes in conditions suggest a different solution

1. database

2. model base

3. user interface

4. users

5. knowledge base

a same-room group whose members are in 1 place, and a virtual group whose members are in different locations

interactive computer-based system that facilitates the solution of semi-structured and unstructured problems when made by a group of decision makers by concentrating on the process and procedures during meetings; objective is to support the decision process

 rule based systems that automatically provide solutions to repetitive managerial problems; closely related to BI and bus analytics: bus analytic models may be used to create and/or operate the bus rules and bus rules can be used to trigger the automatic decisions in BI apps; most suitable for repetitive decisions that are made frequently, or responses that are needed rapidly using online info

1. rapidly builds business rules to automate or guide decision makers, and delpoys them into almost any operating environment

2. injects predictive analytics into rule-based aps

1. product/service customization

2. yield or price optimization

3. routing or segmentation decisions

4. fraud detection

5. dynamic forecasting and SCM

6. human capital

1. lack of business sponsors to insure funding

2. lack of cooperation

3. lack of qualified and available staff

4. too much reliance on vendors

cost-benefit issues and justification, legal issues and privacy

: privacy and accountability, human judgment which is subjective and sometimes corrupt, use of knowledge extracted from ppl, dehumanization and the feeling that a machine can be smarter than some ppl