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MBA
of Business
Intelligence & Data Mining BI
Thus
it is about turning a raw, collected data into an intelligent information by
analyzing and re-arranging the data according to the relationships among
the data items by knowing what data to collect and manage and in what
context.
Business
Management School
The
Business Intelligence & Data Mining BI Program
Our online
Next-Generation
Business Intelligence BI curriculum would provide a first level exposure to all the building blocks,
decision making issues, and emerging advances in the area of Business
Intelligence BI, including:
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General Control Theory
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Feedback Control System
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Business
Modeling
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Data
Modeling
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OLAP Online
Analytical Process
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Data
Warehouse
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Data Mining
- Module 1
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Data Mining
- Module 2
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Data Mining
- Module 3 - TextPipe Pro
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Business
Intelligence Systems (Softwares).
Who
Should Attend?
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Business
Intelligence BI professionals who wish to understand the fundamental issues and emerging
trends in this important area
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Academics who
are teaching or planning to teach a course on Business Intelligence BI
at
undergraduate or Master's level
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Senior
undergraduate students, Master's students, and research students who wish to
obtain a sound exposure to the area of Business Intelligence BI
-
Any Business
Intelligence & Data Mining BI professionals.
tiws
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These are some brief notes on Business Intelligence & Data Mining BI
- 1
Dr. S. Maurer,
MBA Teacher
Article Keywords: mba chief information officer correspondence cheap education gratis mba information technology correspondence free university gratis mba information technology in house scholarship courses vrif
Key performance indicators bi oftėn uses Key performance indicators [KPIs] to assess the present state of business and to prescribe a course of action. More and more organizations have started to make more data available more promptly.
Operational and transactional systems such as merchandise management, erp [enterprise resource planning], and POS, are very good at what they do - organizing huge amounts of operational data and transactions. These systems can tell retailers what has happened in their business and what their customers have done - last week, last month, and last year.
Retailers are quickly catching up and beginning to recognize the many areas of bi that can be applied specifically to their businesses.
Factors Influencing business intelligence: Customers are the most critical aspect to a enterprise's success. Without them a enterprise cannot exist. So it is very important that you have information on their preferences. You must quickly adapt to their changing demands.
Each bi vendor typically defines business intelligence their own way, and markets tools to do bi the way that they see it.
Consolidate - At this stage, a enterprise has pulled together its data at the departmental level. Here, a question gets the same answer every time, at least within the department. However, departmental interests and interdepartmental competition can skew the integrity of the output and result in multiple versions of the truth.
Prior to the start of the information Age in the late 20th century, businesses sometimes struggled to collect data from non-automated sources. Businesses then lacked the computing resources to properly analyze the data, and often made business decisions primarily on the basis of intuition.
Integrate - At this point in the evolution, a enterprise has adopted enterprise-wide data and bases its decisions on this more complete information. This enterprise is beginning to have a true awareness of additional opportunities for the use of bi to improve processes and profits.
Assortment and size optimization that are based on customer demand patterns ensure that the correct assortments, size, and case-pack distributions get sent to the correct stores.
Industrial espionage may also provide business intelligence by using covert techniques. A gray area exists between normal business intelligence and industrial espionage.
The bi softwares aids in business performance management, and aims to help people make better business decisions by making accurate, current, and relevant information available to them when they need it.
bi relates to the intelligence as information valued for its currency and relevance. it is expert information, knowledge and technologies efficient in the management of organizational and individual business.
In 1989 Howard Dresner, a Research Fellow at Gartner Group popularized bi as a umbrella term to describe a set of concepts and methods to improve business decision-making by using fact-based support systems.
Persons involved in business intelligence processes may use application software and other technologies to gather, store, analyze, and provide access to data, and present that data in a easy, useful manner.
As retailers gain a better understanding of their customers' buying behavior, this analysis can then be used to create more effective merchandising plans for the next season.
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These are some brief notes on Business Intelligence & Data Mining BI
- 2
Dr. S. Maurer,
MBA Teacher
Article Keywords: mba information technology international low cost courses libero mba information technology correspondence low cost program libre mba information technology international cheap degree libre
There are many factors that havė led retailers to adopt bi software: increased competition, the need to squeeze more profitability out of less space, prevalent credit card usage, the internet's role as an alternative sales channel, the popularity of loyalty cards, and soon, RFID [radio frequency identification]. These milestones have created a wealth of data that retailers are now beginning to appreciate and use.
Industrial espionage may also provide business intelligence by using covert techniques. A gray area exists between normal business intelligence and industrial espionage.
In modern businesses, increasing standards, automation, and technologies have led to vast amounts of data becoming available. data warehouse technologies have set up repositories to store this data.
Leading retailers around the globe - like Wal-Mart, Foot Locker, Staples, Williams-Sonoma, and Amazon.com and many others - have begun using bi and analytics to make an array of strategic decisions. These include where to place retail outlets, how many of each size or color of an item to put in each store, and when and how much to discount. The effects of these decisions can save or generate millions of dollars for retailers.
business intelligence has now become the art of sieving through large amounts of data, extracting pertinent information, and turning that information into knowledge upon which actions can be taken.
Innovate - This level represents a major, quantum break with the past. it exploits the understanding of the value-creation process acquired in the optimize stage and replicates that efficiency with new products in new markets. enterprises operating at this level understand what they do well and apply this expertise to new areas of opportunity, thus multiplying the number of revenue streams flowing into the enterprise.
business intelligence reveals to you: The position of your firm as in comparison to its competitors i.e. market share; Changes in customer behaviour and spending patterns; Customers' preferences; The capabilities of your firm; Market conditions, future trends, demographic and economic information; The social, regulatory, and political environment; What the other firms in the market are doing; You can then deduce from the information gathered what adjustments need to be made.
The understanding and predicting changes in demand also leads to optimal productivity since store-level human capital costs can be scheduled better and managed more efficiently.
Prior to the start of the information Age in the late 20th century, businesses sometimes struggled to collect data from non-automated sources. Businesses then lacked the computing resources to properly analyze the data, and often made business decisions primarily on the basis of intuition.
business intelligence software incorporates the ability to data mine, analyze, and reporting. Some modern bi software allow users to cross-analyze and perform deep data research rapidly for better analysis of sales or performance on an individual, department, or enterprise level.
We find that the retailers that are realizing the most significant returns on their investments are those that take a purposeful, pragmatic approach to establishing an intelligence platform upon which to base all other bi solutions.
Competitive organizations accumulate business intelligence in order to gain sustainable competitive advantage, and may regard such intelligence as a valuable core competence in some instances.
Retailers are now paying significant attention to bi software, specifically in the areas of merchandise intelligence [including merchandise planning, assortment, size, space, price, promotion, and markdown optimization], customer intelligence [including marketing automation, marketing optimization, and market basket analysis], operational intelligence [including it portfolio management], labor optimization, [and real estate site selection], competitive intelligence.
If you make an arbitrary decision without knowing how your entire organization works it could have negative affects on your business. bi gives you information on how your entire organization works.
Daily price, promotion, and markdown optimization ensures that items are priced for optimal profitability, both preseason and in season.
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These are some brief notes on Business Intelligence & Data Mining BI
- 3
Dr. S. Maurer,
MBA Teacher
Article Keywords: mba chief information officer distance learning free of charge program gratis mba chief information officer distance learning scholarship college vrif mba chief information officer e-learning reduced cost education gratis
Merchandising - This is clearly the most important arėa of a retailer's business and an area where retailers are beginning to exploit the full value of bi.
The competitive game is changing for retail. As the manufacturer continues to consolidate, retailers have begun to realize that using technology to better understand customer buying behavior, to drive sales and profitability, and to reduce operational costs is a necessity for long-term survival.
In business you don't want to play the catch up game because you would have lost valuable market share. business intelligence tells you what actions your competitors are taking, so you can make better informed decisions.
We are finding that most large retailers have reached or are approaching the integrate stage, with many making great strides toward the optimize and innovate levels. There is an enormous opportunity for the evolution to continue - within every retail organization.
bi starts with understanding the customer and then linking that insight into every decision that is made, from merchandising to marketing to distribution to store operations to finance, so that retailers can predict how to best serve their customers' ever-changing needs and desires.
business intelligence reveals to you: The position of your firm as in comparison to its competitors i.e. market share; Changes in customer behaviour and spending patterns; Customers' preferences; The capabilities of your firm; Market conditions, future trends, demographic and economic information; The social, regulatory, and political environment; What the other firms in the market are doing; You can then deduce from the information gathered what adjustments need to be made.
bi relates to the intelligence as information valued for its currency and relevance. it is expert information, knowledge and technologies efficient in the management of organizational and individual business.
it's critical, however, for retailers to understand what will happen: what the demand will be for a select assortment of merchandise, what impact an incremental price change will have on demand, which floor plan will sell more designer shoes, which customers will respond to a direct mail or catalog offer.
So what you're seeing, in terms of the transformation of business intelligence and how it is evolving, is that it needs to touch the majority of users within the enterprise, and the current vendors can't do it.
The bi market has changed dramatically and it is continuing to change. business intelligence now needs to work for everyone in the enterprise. it can no longer work for just the selected few that either have the capacity or the time or the business requirement to use it.
As businesses started automating more and more systems, more and more data became available. However, collection remained a challenge due to a lack of infrastructure for data exchange or to incompatibilities between systems.
Cost and risk queries: The financial consequences of a new bi initiative should be estimated. it is necessary to assess the cost of the present operations and the increase in costs associated with the bi initiative? What is the risk that the initiative will fail? This risk assessment should be converted into a financial metric and included in the planning?
bi technology Requirements: For the bi system to work effectively, enterprises must address the following technical issues: security and specified user access to the warehouse;
bi business processes Organizations typically gather information in order to assess the business environment, and cover fields such as marketing research, manufacturer or market research, and competitor analysis.
Both short-term goals [such as quarterly numbers to Wall Street] and long term goals [such as shareholder value, target manufacturer share / size, etc.] exist .
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These are some brief notes on Business Intelligence & Data Mining BI
- 4
Dr. S. Maurer,
MBA Teacher
Article Keywords: mba information technology online inexpensive college gratis mba chief information officer international inexpensive program frei mba cio distance learning reduced cost schools libre
business Intelligencė enables you to gather information on the trends in the marketplace and come up with innovative products or services in anticipation of customer's changing demands.
information is often regarded as the second most important resource a enterprise has [a enterprise's most valuable assets are its people].
The bi softwares aids in business performance management, and aims to help people make better business decisions by making accurate, current, and relevant information available to them when they need it.
business intelligence tools are a type of Application software designed to help the business intelligence [bi] business processes. Specifically they are generally tools that aid in the analysis, and presentation of data.
Assortment and size optimization that are based on customer demand patterns ensure that the correct assortments, size, and case-pack distributions get sent to the correct stores.
bi systems must combine data management [consolidating, organizing, and cleansing huge amounts of disparate data from varying systems and platforms] with predictive analytics [data mining, forecasting, optimization]. When they do, retailers can make sense of customer, product, supplier, and operational data and draw insights that will help them run their businesses better and more profitably.
Innovate - This level represents a major, quantum break with the past. it exploits the understanding of the value-creation process acquired in the optimize stage and replicates that efficiency with new products in new markets. enterprises operating at this level understand what they do well and apply this expertise to new areas of opportunity, thus multiplying the number of revenue streams flowing into the enterprise.
There must be a closed-loop interface between the operational systems that retailers rely upon to conduct day-to-day business and the bi systems that help them conduct that business more efficiently and profitably.
business intelligence technology: business intelligence provides organizational data in such a way that the organizational knowledge filters can easily associate with this data and turn it into information for the organization.
As businesses started automating more and more systems, more and more data became available. However, collection remained a challenge due to a lack of infrastructure for data exchange or to incompatibilities between systems.
bi also expedites decision-making, as acting quickly and correctly on information before competing businesses do, which can often result in competitively superior performance.
business Partners must possess the same strategic information you have so that there is no miscommunication that can lead to inefficiencies. For example it is common now for businesses to allow their suppliers to see their inventory levels, performance metrics, and other supply chain data in order to collaborate to improve supply chain management.
marketing - By understanding customers better - whether by profiling, segmenting, gauging propensity to respond, or using market basket analysis - retailers can create better-defined targeted campaigns, reducing expenses [printing, paper, postage] while increasing response rates, revenues, and gross margins.
We are finding that most large retailers have reached or are approaching the integrate stage, with many making great strides toward the optimize and innovate levels. There is an enormous opportunity for the evolution to continue - within every retail organization.
it's critical, however, for retailers to understand what will happen: what the demand will be for a select assortment of merchandise, what impact an incremental price change will have on demand, which floor plan will sell more designer shoes, which customers will respond to a direct mail or catalog offer.
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