Table Of Content

Business Intelligence and Analytics Drew Bentley Business Intelligence and Analytics Business Intelligence and Analytics Edited by Drew Bentley Business Intelligence and Analytics Edited by Drew Bentley ISBN: 978-1-9789-2136-8 © 2017 Library Press Published by Library Press, 5 Penn Plaza, 19th Floor, New York, NY 10001, USA Cataloging-in-Publication Data Business intelligence and analytics / edited by Drew Bentley. p.cm. Includes bibliographical references and index. ISBN 978-1-9789-2136-8 1.Business intelligence. 2. Industrial management--Statistical methods--Data processing. 3.Business planning--Data processing. 4.Management. I. Bentley, Drew. HD38.7 .B87 2017 658.472--dc23 This book contains information obtained from authentic and highly regarded sources. All chapters are published with permission under the Creative Commons Attribution Share Alike License or equivalent. A wide variety of references are listed. Permissions and sources are indicated; for detailed attributions, please refer to the permissions page. Reasonable efforts have been made to publish reliable data and information, but the authors, editors and publisher cannot assume any responsibility for the validity of all materials or the consequences of their use. Copyright of this ebook is with Library Press, rights acquired from the original print publisher, Larsen and Keller Education. Trademark Notice: All trademarks used herein are the property of their respective owners. The use of any trademark in this text does not vest in the author or publisher any trademark ownership rights in such trademarks, nor does the use of such trademarks imply any affiliation with or endorsement of this book by such owners. The publisher’s policy is to use permanent paper from mills that operate a sustainable forestry policy. Furthermore, the publisher ensures that the text paper and cover boards used have met acceptable environmental accreditation standards. Table of Contents Preface VII Chapter 1 Introduction to Business Intelligence 1 • Business Intelligence 1 • Mobile Business Intelligence 11 • Real-time Business Intelligence 18 Chapter 2 Analytics: A Comprehensive Study 22 • Business Analytics 22 • Analytics 24 • Software Analytics 28 • Embedded Analytics 30 • Learning Analytics 31 • Predictive Analytics 37 • Prescriptive Analytics 51 • Social Media Analytics 56 • Behavioral Analytics 57 Chapter 3 Data Mining: An Overview 64 • Data Mining 64 • Anomaly Detection 73 • Association Rule Learning 75 • Cluster Analysis 82 • Statistical Classification 97 • Regression Analysis 101 • Automatic Summarization 110 • Examples of Data Mining 120 Chapter 4 Understanding Data Warehousing 129 • Data Warehouse 129 • Data Mart 137 • Master Data Management 139 • Dimension (Data Warehouse) 142 • Slowly Changing Dimension 146 • Data Vault Modeling 154 • Extract, Transform, Load 161 • Star Schema 169 Chapter 5 Market Research: An Integrated Study 173 • Market Research 173 • Market Segmentation 178 • Market Trend 195 • SWOT Analysis 200 • Marketing Research 207 ________________________ WORLD TECHNOLOGIES ________________________ VI Contents Chapter 6 Essential Aspects of Business Intelligence 220 • Context Analysis 220 • Business Performance Management 225 • Business Process Discovery 230 • Information System 234 • Organizational Intelligence 241 • Data Visualization 245 • Data Profiling 256 • Data Cleansing 258 • Process Mining 264 • Competitive Intelligence 266 Chapter 7 Operational Intelligence: Technological Components 272 • Operational Intelligence 272 • Business Activity Monitoring 275 • Complex Event Processing 277 • Business Process Management 281 • Metadata 288 • Root Cause Analysis 302 Pe rmissions Index ________________________ WORLD TECHNOLOGIES ________________________ Preface Data is raw facts and figures and information is meaningful data that would be helpful for a person or company. Business intelligence extracts information from raw data through tools like data mining, perspective analysis, online analytical processing etc. The textbook will provide comprehensive information to readers about business intelligence and analytics. This book explores all the important aspects of business intelligence and analytics in the present day scenario. The topics covered in this extensive book deal with the core subjects of business intelligence. It aims to serve as a resource guide for students and facilitate the study of the discipline. Given below is the chapter wise description of the book: Chapter 1- The strategy and the planning that is incorporated in any business is known as business intelligence. It may also include products, technologies and analysis and presentation of business information. This chapter will provide an integrated understanding of business intelligence. Chapter 2- Analytics is the understanding and communication of significant patterns of data. Analytics is applied in businesses to improve their performances. Some of the aspects explained in this text are software analytics, embedded analytics, learning analytics and social media analytics. The section on analytics offers an insightful focus, keeping in mind the complex subject matter. Chapter 3- The process of understanding the patterns found in large data sets is known as data mining. Some of the aspects of data mining that have been elucidated in the following section are association rule learning, cluster analysis, regression analysis, automatic summarization and examples of data mining. The chapter on data mining offers an insightful focus, keeping in mind the complex subject matter. Chapter 4- Data warehouse is the core of business intelligence. It is majorly used for reporting and analyzing data. Data mart, master data management, dimension, slowly changing dimension and star schema. This text elucidates the crucial theories and principles of data warehousing. Chapter 5- The effort put in to gather information related to customers or markets is known as market research. Market research is an important part of business strategy. Market segmentation, market trend, SWOT analysis and market research are some of the topics elucidated in this chapter. Chapter 6- The essential aspects of business intelligence are context analysis, business performance management, business process discovery, information system, organization intelligence and process mining. The method to analyze the environment of any business is known as context analysis. The topics discussed in this section are of great importance to broaden the existing knowledge on business intelligence. ________________________ WORLD TECHNOLOGIES ________________________ VIII Preface Chapter 7- Operational intelligence has a number of aspects that have been elucidated in this chapter. Some of these features are complex event processing, business process management, metadata and root cause analysis. The components discussed in this text are of great importance to broaden the existing knowledge on operational intelligence. Indeed, my job was extremely crucial and challenging as I had to ensure that every chapter is informative and structured in a student-friendly manner. I am thankful for the support provided by my family and colleagues during the completion of this book. Editor ________________________ WORLD TECHNOLOGIES ________________________ 1 Introduction to Business Intelligence The strategy and the planning that is incorporated in any business is known as business intelligence. It may also include products, technologies and analysis and presentation of business information. This chapter will provide an integrated understanding of business intelligence. Business Intelligence Business intelligence (BI) can be described as “a set of techniques and tools for the acquisition and transformation of raw data into meaningful and useful information for business analysis purposes”. The term “data surfacing” is also more often associated with BI functionality. BI technologies are capable of handling large amounts of structured and sometimes unstructured data to help identify, develop and otherwise create new strategic business opportunities. The goal of BI is to allow for the easy interpretation of these large volumes of data. Identifying new opportunities and implementing an effective strategy based on insights can provide businesses with a competitive market advantage and long-term stability. BI technologies provide historical, current and predictive views of business operations. Common functions of business intelligence technologies are reporting, online analytical processing, analytics, data mining, process mining, complex event processing, business performance management, benchmarking, text mining, predictive analytics and prescriptive analytics. BI can be used to support a wide range of business decisions ranging from operational to strategic. Basic operating decisions include product positioning or pricing. Strategic business decisions include priorities, goals and directions at the broadest level. In all cases, BI is most effective when it combines data derived from the market in which a company operates (external data) with data from company sources internal to the business such as financial and operations data (internal data). When combined, external and internal data can provide a more complete picture which, in effect, creates an “intelligence” that cannot be derived by any singular set of data. Amongst myriad uses, BI tools empower organisations to gain insight into new markets, assess demand and suit- ability of products and services for different market segments and gauge the impact of marketing efforts. Components Business intelligence is made up of an increasing number of components including: • Multidimensional aggregation and allocation • Denormalization, tagging and standardization ________________________ WORLD TECHNOLOGIES ________________________