11.3.1 Business intelligence

• What is Business Intelligence (BI)?

  Data analysis for informed decisions
• The key components of BI include data collection, data analysis, reporting, and visualization
• Match the BI component with its purpose:

  Data Collection ↔️ Centralizes and unifies data

  Data Analysis ↔️ Reveals valuable insights

  Reporting ↔️ Communicates key findings

  Visualization ↔️ Enhances understanding
• BI improves decision-making by providing data-driven insights.
• Automated data collection and reporting in BI lead to increased efficiency
• How does BI enhance competitiveness for businesses?

  Insights into market trends
• Match the BI application with its description:

  Sales Forecasting ↔️ Predicting future sales trends

  Customer Segmentation ↔️ Identifying distinct customer groups

  Performance Monitoring ↔️ Tracking key performance indicators
• What are the three key characteristics of Big Data in BI?

  Volume, variety, and velocity
• Traditional data in BI is typically structured, while Big Data can be structured or unstructured
• Big Data processing in BI is slower compared to traditional data.

  False
• Steps in how Big Data enhances BI

  1️⃣ Provides a complete view of the business

  2️⃣ Enables advanced analytics and machine learning

  3️⃣ Supports real-time decision-making
• What is one advantage of using Big Data in BI?

  Supports real-time decision-making
• What are the three characteristics of Big Data?

  Volume, variety, and velocity
• Big Data has a faster velocity than traditional data
• Match the characteristic of Big Data with its description:

  Volume ↔️ The amount of data

  Variety ↔️ The type of data

  Velocity ↔️ The speed of data processing
• How can Big Data inform marketing strategies?

  By analyzing customer behavior
• By leveraging Big Data, businesses can improve operational efficiency
• Big Data enables advanced analytics and machine learning techniques in Business Intelligence.
• What are the key components of Business Intelligence?

  Data collection, analysis, reporting, visualization
• Data analysis in BI reveals valuable patterns and trends
• Steps in the data collection process within Business Intelligence:

  1️⃣ Gather data from multiple sources

  2️⃣ Centralize data

  3️⃣ Unify data
• Match the BI component with its purpose:

  Data Collection ↔️ Centralizes and unifies data

  Data Analysis ↔️ Reveals valuable insights

  Reporting ↔️ Communicates key findings

  Visualization ↔️ Enhances understanding
• Business Intelligence improves decision-making by providing data-driven insights.
• Sales forecasting in BI uses historical sales data to predict future trends
• What is Business Intelligence (BI)?

  Data analysis for decisions
• Which characteristics of Big Data enhance its role in BI?

  Volume, variety, and velocity
• Match the BI technique with its example:

  Data Mining ↔️ Identifying frequently bought together products

  Machine Learning ↔️ Predicting customer churn

  Statistical Analysis ↔️ Comparing sales performance using ANOVA

  Data Visualization ↔️ Creating dashboards to monitor KPIs
• What statistical test can be used to compare sales performance across regions?

  ANOVA
• Machine learning in BI is used for tasks like predicting customer churn
• Data visualization transforms complex data into clear and understandable formats.
• What BI application predicts future sales trends based on historical data?

  Sales forecasting
• Customer segmentation in BI identifies distinct groups of customers for targeted marketing
• What is the primary goal of Business Intelligence (BI)?

  Enhance decision-making
• Sales forecasting in BI uses historical data to predict future sales trends
• Customer segmentation in BI divides customers based on demographics and purchase behavior for targeted marketing.
• What does performance monitoring in BI track to assess business health?

  Key performance indicators
• Operational efficiency in BI involves analyzing production process data to reduce waste
• What are the four key components of Business Intelligence (BI)?

  Data Collection, Analysis, Reporting, Visualization
• Business Intelligence (BI) differs from traditional reporting by providing advanced analytics and predictions.
• Match the BI feature with its description:

  Advanced Data Analysis ↔️ Identifies patterns and trends

  Predictive Analytics ↔️ Forecasts future outcomes

  Interactive Dashboards ↔️ Presents data visually