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Business Intelligence and Analytics and Data Visualization for Efficient Business Management Some People Will Be Using Business Intelligence Without Even Knowing It

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Business Intelligence and Analytics and Data Visualization for Efficient Business Management Some People Will Be Using Business Intelligence Without Even Knowing It Business Intelligence and Analytics and Data Visualization for Efficient Business Management Some people will be using Business Intelligence without even knowing it. - Kurt Schlegel What is Business Intelligence? Technology Application Practices USED FOR Data Collection Data Integration Data Analysis Presentation Business Intelligence is not just about turning data into information, rather organizations need that data to impact how their business operates and responds to the changing marketplace. - Gerald Cohen Why Business Intelligence? Helps in defining growth strategies Gaining insights from huge data sets Better decision making leading to higher revenue Better understanding of customers Competitive advantage Business Intelligence Process uncover to inform an opportunities in coherent d speed your own to estimate historical predictive and up your operations that how changes data analytics consistent decision- drive efficiency affect you tools making in both revenue process. and costs Business Intelligence functions Business Reporting Data Mining Performance Complex event Process Mining Text Mining processing Descriptive Predictive Prescriptive Analysis Analysis Analysis Descriptive Analytics What has occurred? Predictive Analytics What will occur? Prescriptive Analytics What should occur? Business Intelligence vs Business Analytics Business Intelligence Business Analytics • Deals with what happened • Deals with the why’s of in the past and how it what happened in the past happened leading up to the by breaking it down into present moment. contributing factors. • It identifies big trends and • It uses these why’s to make patterns without digging predictions of what will too much into the why’s or happen in the future. predicting the future. Business Intelligence vs Business Analytics Business Business Intelligence Analytics Descriptive analytics: Creates summary of historical data to visualize Diagnostic analytics: Determines the source of issues discovered by Descriptive analytics Predictive analytics: Makes predictions based on collected data Prescriptive analytics: Offers solutions for issues found by descriptive analytics BI in the Big Data Data Pervasive BI Cloud Appliances Columnar Mobile Predictive Databases BI Analytics Real Time BI BI Based Advanced Data BI Governance Organizations Visualization In-Memory Data Scientists Rules Engines Analytics SaaS BI Competency Centers Hadoop/MapReduce BI 2.0 Software BI Search Agile Open Source BI Software Text Master Data Event Analytics Management Analytics Importance of Data Driven Insights in Effective Decision Making The goal is to turn data into information, and information into insight. - Carly Fiorina Act today for better results tomorrow Early View Customer first Data vs. Gut Identify pattern Any Guesses? Information is the oil of the 21st century, and analytics is the combustion engine. c - Peter Sondergaard Data will talk if you're willing to listen! Step 1 Step 2 Step 4 Step 3 Hypothesis • Dummy data that talks about a bank’s customers • Tool used: Power BI • 4 steps to represent our data and analyze • Unfolding the advantages of Data Driven Insights Step 1: Understanding the data Step 2: Re-arranging the data Step 3: Analysing the data Geographical concentration Distribution by Balance 18+ Distribution by Age Distribution by Gender Distribution by Profession Step 4: Representation of data Act today for better results tomorrow Early View Customer first Data vs. Gut Identify pattern • React in advance • Changing • Dynamic • Connecting the • Act swiftly customer needs environment dots • Plan better • Enhanced • Analysis vs. • Understanding • Mitigate risk servicing Instincts the linkages Data visualization tools Tableau Power BI Qlik BI Very intuitive and User friendly – Easy to learn for Ease of user friendly (Non Knowledge of people with Data use technical users can Microsoft Excel is Science use easily) enough background Free Tableau Public is Desktop version is Qlik Personal is free, Tableau free, Power BI Pro free, Qlik Sense is version Server is licensed. is pay per month paid Flexibility to create Inexpensive, Provide deep Advantage custom visuals complex visuals range analytics and gives it an edge are easy to create dataset support.
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