Business Intelligence and Enterprise Systems: Key Concepts
Business Intelligence and Data Analysis
Social Network Analysis
Social Network Analysis (SNA): A technique that attempts to find groups of people who work together, identify people who should collaborate but do not, or find experts in a particular subject area.
Measures
Measures: The values or numbers a user wants to analyze.
Master Data
Master Data: The data deemed most important in the operation of a business.
Web Content Mining
Web Content Mining: Extracting textual information from web documents.
Continuous Planning Process
Continuous Planning Process: A strategic business planning process involving continuous monitoring and adjusting of business processes to enable rapid reaction to changing business conditions.
Data Mining
Data Mining: A set of methods used to find hidden predictive relationships in a data set.
Business Intelligence
Business Intelligence (BI): Tools and techniques for analyzing and visualizing both structured and unstructured data to obtain an understanding of current and past performance.
Digital Dashboard
Digital Dashboard: A user interface visually representing summary information about a business’s health, often from multiple sources.
Geographic Information System
Geographic Information System (GIS): An information system designed to store and analyze spatially referenced data.
Decision Support System
Decision Support System (DSS): A special-purpose information system designed to support organizational decision-making.
Key Concepts in Business Intelligence and Data Analysis
- In an RDBMS, an entity is represented as a table.
- A key indicator report provides a summary of critical metrics on a recurring schedule.
- To respond swiftly to a highly competitive and rapidly changing environment, organizations utilize a continuous planning process.
- To determine the likelihood of new customers defaulting on a loan, a manager in a bank would typically use classification.
- Web usage mining entails analyzing clickstream data.
- Market share analysis is typically used by the marketing function of an organization.
- Big data is characterized by all of the following except verifiability.
- Monitoring and sensing agents keep track of key information such as inventory levels, notifying users when conditions change.
- Annual sales is an example of attribute data commonly used in GIS applications.
Enterprise Systems
Enterprise System
Enterprise System: An information system that allows companies to integrate data on a company-wide basis.
Legacy System
Legacy System: An older system that is not designed to communicate with other applications beyond departmental boundaries.
Value System
Value System: A collection of interlocking company value chains.
ERP Extended Component
ERP Extended Component: Components that support the primary external activities of the organization for dealing with suppliers and customers.
Standalone Applications
Standalone Applications: Systems that focus on the specific needs of an individual department.
Vanilla Version
Vanilla Version: The features and modules that a packaged software system comes with out of the box.
Make-to-Stock Process
Make-to-Stock Process: The processes associated with producing goods based on forecast demand.
Business Process Management
Business Process Management (BPM): A systematic, structured improvement approach by all or part of an organization whereby people critically examine, rethink, and redesign business processes to achieve dramatic improvements in one or more performance measures, such as quality, cycle time, or cost.
Procure-to-Pay Process
Procure-to-Pay Process: The processes associated with acquiring goods from suppliers.
Internally Focused System
Internally Focused System: An information system that supports functional areas, business processes, and decisions within an organization.
Key Concepts in Enterprise Systems
- Enterprise systems are information systems that allow companies to integrate information and support operations on a company-wide basis.
- Customer service is a core activity according to the value chain model.
- Technology development is a support activity according to the value chain model.
- A legacy system is not an ERP system.
- The processes associated with obtaining goods from external vendors are referred to as procure-to-pay processes.
- The processes associated with selling a product or service are referred to as order-to-cash processes.
- Make-to-order processes are most often associated with pull-based manufacturing of products.
- Information systems that focus on supporting functional areas, business processes, and decision-making within an organization are referred to as internally focused systems.
- An enterprise system that has not been customized is commonly referred to as a vanilla version.