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Discuss on business intelligence tools and techniques and functionalities associated with them using specific examples chosen from the selected organization processing

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Company Law

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Pearson College London

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Fathima sumaiya

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Discuss on business intelligence tools and techniques and functionalities associated with them

using specific examples chosen from the selected organization processing. (P3)

BI has a direct impact on organization's strategic, tactical and operational business decisions.

BI supports fact-based decision making using historical data rather than assumptions and gut

feeling. BI tools perform data analysis and create reports, summaries, dashboards, maps,

graphs, and charts to provide users with detailed intelligence about the nature of the business.

Business intelligence tools can be a great resource to improve your business.

The aim of Business Intelligence is to support decision making. BI tools are

often called Decision Support Systems (DSS) because they provide business

users with tools to analyze their data and extract information.

Types of business intelligence tools

Business intelligence combines a broad set of data analysis applications

designed to meet different information needs. Most are supported by both

self-service BI software and traditional BI platforms.

Visualizations

Reporting

Predictive Analytics

Data Mining

OLAP

Data Mining

Data mining is an integral process for data management as well as the pre-

processing of data since it ensures appropriate data structuring. Data

mining is a computer supported method to reveal previously unknown or

unnoticed relations among data entities. End users could also use data

mining to create models that reveal these patterns. For instance, a business

could mine CRM data to predict which leads will most likely buy a certain

solution or product.

Data mining techniques are used in a myriad of ways: shopping basket

analysis, measurement of products consumers buy together in order to

promote other products; in the banking sector, client risk assessment is used

to evaluate whether the client is likely to pay back the loan based on

historical data; in the insurance sector, fraud detection based on behavioral

and historical data; in medicine and health, analysis of complications and/or

common diseases may help to reduce the risk of cross infections.

On-line Analytical Processing (OLAP)

OLAP is best known for the OLAP-cubes which provide a visualization of

multidimensional data. One of the early BI technologies, OLAP tools enable

users to analyze data along multiple dimensions, which is particularly suited

to complex queries and calculations. OLAP cubes display dimensions on the

cube edges (e. time, product, cus tomer type, customer age etc.).

The values in the cube represent the measured facts (e. value of contracts,

number of sold products etc.). The user can navigate through OLAP cubes

using drill-up, -down and -across features. The drill-up functionality enables

the user to easily zoom out to more coarse-grained details. Conversely, drill-

down displays the information with more details. Finally, drilling-across

means that the user can navigate to another OLAP cube to see the relations

on another dimension(s). All the functionality is provided in real-time.

In the past, the data had to be extracted from a data warehouse and stored

in multidimensional OLAP cubes, but it's increasingly possible to run OLAP

analyses directly against columnar databases.

OLAP tools are built upon three basic analytical operations

1. Consolidation: Also called roll-up operation performs data aggregation that can

be computed in many dimensions. For example, all the retail offices rolled up to a

retail department to forecast retail trends.

2. Drill down: Drill down is a contrasting technique to consolidation that allows

users to navigate through data details in a reverse approach to consolidation. For

example, users can view retail patterns of individual products.

3. Slicing and dicing: Slicing and dicing are a technique in which users take out

(slice) a set of data called OLAP cube and then further dice the data cube (slice)

from different viewpoints.

Advantages of using OLAP

High Speed of Data Processing

Multidimensional Data Representation

Aggregated and Detailed Data

is doing, revamp marketing, and foster business growth. For these reasons,

BI has been dubbed a transformation force in retail.

They should start using them according to my suggegession OLAP would

be the best technique

-Discuss how business intelligence tools can contribute to effective decision making. (P5)

Business intelligence technology is a tool used to analyze and present information to help decision makers make more informed and smart business decisions and strategies.

The main purpose of business intelligence is to support better decision-

making in business. With a proper BI system in place, business owners and

managers will get access to the right information at the right time and in the

right format. Business intelligence can provide a company with rich data

resources that can help it achieve its business goals and targets by guiding

timely strategic decisions

BI tools utilize OLAP (Online Analytical Processing) to help enterprises perform data

analysis, monitor KPIs, and generate all types of reports. As a result, firms can identify

business trends (both negative and positive), communicate findings to their stakeholders,

and gain actionable insights for informed decisions. When it comes to staying ahead of

the competition, these tools can also give firms a leg up by providing data to predict

market trends, discover new opportunities, and develop breakthrough strategies.

Having data visualized in a correct format is very important, as this facilitates

better understanding of the data. For example, month-on-month sales could

be represented in the form of a line graph rather than just words or verbal

communication. Similarly, a component wise contribution could be best

represented with a pie chart. Only when data is represented in the correct

format can any useful insight be extracted from it.

Reporting based on accurate and timely information helps companies

measure the performance of their processes. Business Intelligence helps

companies make informed decisions on strategic issues by providing

crucial information on current and historical performance of the company

along with future trends, expected demands, customer behavior etc.

Business Intelligence teams ensure that the company receives real-time

advanced reports to ensure that the company can efficiently utilize the

information at hand to better manage the business.

Predictive Analytics Tool BI solution majorly helps you to analyze the data and trends by analyzing your previous data sets. But one capability which a BI solution must have is the predicting capabilities, it enables the decision makers to predict the market trends, and other business requirements like sales, staffing, market trends etc.

OLAP (Online Analytical Processing)

OLAP performs multidimensional analysis of business data and provides the capability for complex calculations, trend analysis, and sophisticated data modeling. It is the foundation for many kinds of business applications for Business Performance Management, Planning, Budgeting, Forecasting, Financial Reporting, Analysis, Simulation Models, Knowledge Discovery, and Data Warehouse Reporting. OLAP enables end-users to perform ad hoc analysis of data in multiple dimensions, thereby providing the insight and understanding they need for better decision making. By using OLAP technique a company that can take advantage and turn it into shared knowledge, accurately and quickly, will surely be better positioned to make successful business decisions and rise above the competition.

Data mining and Business Intelligence have made possible that various industries, such as sales and marketing, healthcare organization or financial institutions, could have a quick analysis of data and thereby, improving the quality of decision-making process in their industries. In addition, data mining technologies have bright future in business applications, making possible new opportunities by automated prediction of trends and behaviors in these businesses. So, how data mining is used to generate Business Intelligence is a concept that we will hear a lot during these years: it is the future

Business intelligence helps in decision making due to the multiple powerful elements it entails. These include interactivity, data visualization, database connection, mobile business intelligence, predictive analytics, application integration, and ad hoc reporting

Describe the legal issues involved in the secure exploitation of business intelligence tools in

an organization. What are the legal issues you can identify in the system designed by you for

the selected organization? (P6)

The business intelligence tools that are used for the effective decision making for a business can have some legal issues as well. As everything is digital, the tools used are also some sort of software. So, the software that are used should be used the authorized person so that one can make the use of the analyzed data. As these things are critical and are supposed to be kept safe. The privacy and security is also a legal issue. The privacy of the data should be maintained and the security should be great enough to protect the data. For this various tools and techniques are available. The tools are supposed to be used correctly and for the benefit of the business and not for personal use.

Cyber security management

All businesses and government agencies are vulnerable to cyber-attacks. Basically, the BI tools are used for the organizational, personal and legal/regulatory context to store the valuable data. For the organization like our company, we use the BI tools to store the data that we have obtain from the research and to analyze the data that we have stored. By doing this we can give competition to the many organization like ours. In one line it can be said that in most of the context BI tools are used to store and to protect the data.

Discovering BI Security Risk: The mere act of producing, receiving, or housing data always poses a danger if left unsecured. Those incorporating BI strategy into their operations are at least more aware of their data, of what it is and where it is housed. But knowledge doesn’t equate to security. The insights drawn from BI and data analysis are no longer unstructured 1s and 0s, but highly-sensitive easily understandable information, making it even more valuable to a hacker. If they can steal data

 speed up and improve decision-making;

 optimize internal business processes;

 increase operational efficiency and productivity;

 spot business problems that need to be addressed;

 identify emerging business and market trends;

 develop stronger business strategies;

 drive higher sales and new revenues; and

 gain a competitive edge over rival companies.

BI initiatives also provide narrower business benefits -- among them,

making it easier for project managers to track the status of business

projects and for organizations to gather competitive intelligence on their

rivals. In addition, BI, data management and IT teams themselves benefit

from business intelligence, using it to analyze various aspects of technology

and analytics operations.

Business intelligence is a technology-driven process for analyzing data and presenting actionable

information to help executives, managers and other corporate end users make informed business

decisions. The main motive of using business intelligence is for faster and more accurate business

reporting, to make better business decision, to provide satisfaction to their user, to increase business

productivity, etc. The following points or benefits of business intelligence can help to extend their

target audiences.

Conclusion Business intelligence doesn’t have to be scary there are a variety of resources to educate and empower buyers. There are plenty of types of different BI tools out there to explore and experiment with. The more educated the user base becomes, the more comprehensive and powerful the options will become. BI is a versatile and powerful resource, and can be useful to almost every industry. In this report I have discussed and determined, what business intelligence is and the tools and techniques associated with it including the examples, as well as I had designed a business intelligence tool, application or interface that can perform a specific task to support problemsolving or decision-making at an advanced level also I had customized the design to ensure that it is user- friendly and has a functional interface and finally I had provided a critical review of the design in terms of how it meets a specific user or business requirement and identified what customization has been integrated into the design. Also I have described and illustrate how a specific business intelligence tools going to help each and every aspects of an organization in order to make a better business decision making. Then, I have explored what are the legal issues involved with the proper use of business intelligence tools for an organization such as the sector it is going to help and the benefits, they can get from each sector such as increase in productivity, Data privacy and security, for

statistical analysis, etc. Here, I have conducted a research program to identify whether a particular organization uses or not a business intelligence tools in order to analyze, visualize and report their organizational data for the better productivity and enhancement of their product. Apart from that if they do not use then how they are able to manage their business of an organization and any types of methods they use. And lastly, I have done evaluation on how these business intelligence tools going to help a specific organization to target their audience and for that what they should do. Apart from that how a specific organization can make their product better so that they can make more competition within the market and for the better development of their organization, taking security legislation into consideration.

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