Chapter 12 Notes
Chapter 12 Notes BTE 210
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This 3 page Class Notes was uploaded by Dalia Szkolnik on Thursday March 17, 2016. The Class Notes belongs to BTE 210 at University of Miami taught by Geraldine Perez in Winter 2016. Since its upload, it has received 48 views. For similar materials see Fundamentals of Business Technology & Innovation in Information System at University of Miami.
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Date Created: 03/17/16
Chapter 12 Notes Business Intelligence Managers and Decision Makers Management process b y which an organization achieves its goals through the use of resources • Input = people, money, materials, information • Process (management) o Informational roles: making things happen, giving support to the people in your department to defend what needs to get done o Interpersonal roles: o Decisional roles: • Output = achieving goals Roles of managers • Interpersonal roles: leader, figurehead, liaison • Informational roles: monitor, disseminator, spokesperson, analyzer • Decisional roles: entrepreneur, disturbance handler, resource allocator, negotiator Trends that make decision making difficult • Number of alternatives is decreasing • Time pressure • Uncertainty in decision environment Business intelligence (BI) broad category of applications, technologies, and processes for gathering, storing, accessing, and analyzing data to help business users make better decisions (dashboards) • Where is the problem? Two dimensions of decisions • Problem structures o Structured decision: routine ad repetitive (calculating ross pay for hourly workers) o Unstructured decision: fuzzy, complex problems with no cut-and-fried procedures and solutions • Nature of decisions o Operational control executing specifc tasks efficiently and effectively o Management control acquiring and using resources efficiently to accomplish organizational goals o Strategic control long-range goals and policies for growth and resource allocation Key performance indicator operational costs, overhead, ROI BI Supports Organizational Transformation • BI is aligned with corporate performance management (CPM) Popular BI software vendors SAS, Hyperion, SPSS, Cognos, Business Objects, Information Builders Google analytics Business Intelligence Applications for Data Analysis OLAP online analytical processing (multidimensional analysis) • “Slicing and dicing” data stored in a dimensional format • Drills data to greater detail aggregating data • “What is the problem”? Data mining • Process of searching for valuable business information in a large database, data warehouse, or data mart o Prediciting trends and behaviors o Identifying previously unknown patterns Used for credit cards (by banks) to stop fraud • History of purchases • Used in: o Retailing and sales, banking (credit score), manufacturing and production, insurance, police work, healthcare, and marketing • “What is causing the problem”? Wells Fargo critical reporting Decision Support Systems (DSS) • Sensitivity analysis study of impact that changes in one or more parts of a decision-making model have on other parts (taking a variable and moving it around, how will it change the outcome?) • What-if analysis model builder must make predictions and assumptions regarding the input data, many which are based on assessment of uncertain features (results depend on accuracy of these assumptions, which can by highly subjective) o Used a lot in budgeting o Impact of a 2% versus a 4% inflation rate • Goal-seeking analysis represents a “backward” solution approach, it attempts to calculate the value of inputs necessary to achieve a desired level of output o If I need 1000 to get an A in a class, what do I need to get in the assignments? o Set the goal first Presenting Results Dashboards • Rapid access to timely information • Directs access to management reports • User friendly and supported by graphics o Dashboard in car how do you know when you need to get gas? Management cockpit • Strategic management room with series of dashboards • Help managers pilot their business better • Environment that encourages efficient management meetings and boots team performance (efficient communication) • Key performance indicators and information relating to critical success factors (displayed graphically on walls) • Competitive analysis is analyzed Capabilities of dashboards • Drill-down • CSF (critical success factors) o I need to sell these amount of objects to reach the goal that I want • KPI (key performance indicators) • Status access • Trend analysis • Exception reporting Data visualization technologies • GIS (Geographical information systems) o READ THE CASE Maps • Reality mining enable users to employ multidimensional analysis, data mining, and decision support systems to analyze data in real time
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