An umbrella term that includes architectures,

tools, databases, applications, and other methodologies aimed at getting

current, historical, and predictive views of business operations for purposes

of making better business decisions.

A conceptual framework for a process of supporting managerial

decision making usually by modeling problems and employing quantitative

models for solutions analysis.

Business Pressures-Response-Support Model

list the 4 major pressures/factors in today’s business environment that facilitate change

The factors that facilitate change are: 1. Markets, 2. Consumer Demands,

3. Technology-Related, 4.Societal

The difference between the CURRENT performance of an

organization and the DESIRED performance as described in the mission

statements, objectives, and goals.

Data Warehouse, Business Analytics, Business Performance Management, and User Interface

A special database or repository of historical and current data that has been collected and is of potential interest to decision-makers throughout an organization.

A broad category of applications used for analyzing data for purposes of helping business users make better business and strategic decisions. 

BA interactive software tools (called ____) allow users to access the data warehouse and create on-demand reports and queries and to conduct analysis of data.

1.  Reports and queries, and 2. Data, text, and web mining and other sophisticated mathematical and statistical tools.

A rule-based system that provides a solution in one functional area (of, say, finance, marketing, manufacturing, etc.) to a repetitive managerial problem, usually in one industry.

Examples:

  Some examples are provide a credit score, accept/deny a loan application, determine price of a store item, recommend item to purchase

Automated Decision System

A set of data analyses and statistical methodologies that look for hidden patterns in data which can be used for predicting future behavior

Uses balanced scorecard (BSC) methodology to link objectives with factual measures.  In the process, an enterprise must define, implement, and manage their business strategies. The objective of BPM is to optimize the overall performance of an organization.   

Connects Analytics to Strategy through the use of

dashboards and other information broadcasting and visualization tools.

___ provides a comprehensive, at-a-glance view of corporate performance/health through visualization graphics.  They ordinarily contain key performance indicators (KPIs – variables that measure the performance you are interested in), trends, and exceptions/outliers for different aspects of the business operations.

The system that handles the everyday

transactions/transactional data for a company’s on-going business. Data is housed in operational databases.

The system that utilizes informational data transferred from operational databases into data warehouses for analysis and decision making purposes.

Louisiana Crash Data, retail transaction data, bank transactions data

An action is considered a __ __ if it is a necessary strategy for being competitive

It is necessary that companies use BI to become competitive because:

There are fewer ___ to the marketplace allowing for new competitors; these competitors are able to find better and cheaper suppliers, resulting in improved quality and reduced costs.

____, along with the use of the internet, provides competition even to the major players (PC manufacturing, automobile manufacturing, consumer electronics).  

Competitors are able to get their products and services to customers almost

anywhere (through readily available ____ like DHL, UPS, etc.)

1. Fewer barriers

2. Globalization

3. Shippers

For successful BI implementation, you should

 1.  know the user community and

2.  align BI projects with a company’s goals and mission statement.

1.  Develop or Acquire BI Systems,

2.Justify and Prioritize by way of Cost/Benefit Analysis, 3.Security and Privacy of Employees Needs to be Protected

 4.Integration of Systems and Applications