Business Intelligence online test with 15 practice questions & some sample questions. What is the difference between a data warehouse and a data mart? contains a subset of data warehouse information. Busine… The use of IS to gather and analyze information from both external and internal sources to make better decisions, and the data derived from these processes (it is the number one necessities according to CIOs, key players include independent pure play analytic companies such as SAS and MicroStrategy along with larger integrated companies such as IBM, SAP, Oracle, and Microsoft), A strategic business planning process involving continuous monitoring and adjusting of business processes to enable rapid reaction to changing business conditions (Monitor → Analyze →Manage → Plan), Collecting, analyzing, and using internal and external data to gain and sustain competitive advantage; characterized as being of high volume, variety, and velocity; there is structured data (ex. A process that weeds out and fixes or discards inconsistent, incorrect, or incomplete information. What’s good about such solutions is that they help businesses employ business intelligence across their organizations. Add in the data overages or premium services and even a cheap pay-as-you-go system might be too much. Starting from the bottom up(analysts, managers, executives), Analysts: Transaction Processing Systems(TPS), Managers: Decision Support Systems (DDS), Executives: Executive Information Systems(EIS). Although you are completely clear on how demand affects your profitability, you are uncertain what demand will be and how many raw materials are likely to be available. The ability to look at information from different perspectives, What is drill-down capability? Information is everywhere in organizations. Test Bank (Download only) for Business Intelligence, Analytics, and Data Science: A Managerial Perspective, 4th Edition. 51 Terms. 4. Business intelligence improves profitability of the company. Software elements support reporting, interactive “slice-and-dice” pivot-table analyses, visualization, and statistical data mining. Business intelligence process … SWOT analysis SWOT Analysis is a useful technique for understanding your Strengths and Weaknesses, and for identifying both the Opportunities open to you and the Threats you face. Use a variety of techniques to find patterns and relationships in large volumes of information and infer rules from them that predict future behavior and guide decision making. A data warehouse is a logical collection of information gathered from many different operational databases. Involves he aggregation of information and features simple rollups to complex grouping of interrelated information. Business Intelligence The use of IS to gather and analyze information from both external and internal sources to make better decisions, and the data derived from these processes (it is the number one necessities according to CIOs, key players include independent pure play analytic companies such as SAS and MicroStrategy along with larger integrated companies such as IBM, … SQL Server Business Intelligence (BI) is a series of tools for transforming raw data into information businesses can use to make decisions. For example, "What will happen to the supply chain if a hurricane reduces the holdings of inventory from 30% to 10%? You are trying to determine whether to adopt a new product line. The ability to look at information from different dimensions can add tremendous business insight. What is an artificial intelligence system that mimics the evolutionary, survival-of-the-fittest process to generate increasingly better solutions to a problem? 5. Business intelligence provides a facility of assessing organization’s readiness in meeting new business challenges. Domestic and Offshore Outsourcing -- Take this outsourcing quiz to determine your knowledge of the IT outsourcing industry. Artificial intelligence converts information into knowledge and even gives you insight into the future! Finds best price out of many retailers, Describe the three quantitative models typically used by decision support systems, Sensitivity Analysis, What-if-Analysis, Goal-seeking Analysis, The study of the impact that changes in one (or more) parts of the model have on other parts of the model, Checks the impact of a change in an assumption on the proposed solution. 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