An introduction to Business intelligence
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This presentation explains what business intelligence is, why it is essential, and how it has evolved
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An introduction to Business intelligence
- 2. • Getting introduced to business intelligence. • Knowing how BI affect the decision-making process • Knowing why it is worth to implement a BI solution within companies. 4/6/2022 2 of 28
- 3. The process of making choices What is decision making?
- 4. Daily personal decisions ? ? Food?? Clothes?? Trip?? 4/6/2022 4 of 28
- 5. 4/6/2022 5 of 28 Organizational decisions
- 6. • Human Resources • Marketing • Supply chain • Sales • Executive management Who take decisions within organizations? 4/6/2022 6 of 28
- 7. Traditional decision making 4/6/2022 7 of 28
- 8. 4/6/2022 8 of 28
- 9. The Father of Business Intelligence • In 1958, IBM Researcher Hans Peter Luhn publishes "A Business Intelligence System." • Both incoming and internally generated documents are automatically abstracted, characterized by a word pattern, and sent automatically to appropriate action points • Hans is later named the Father of Business Intelligence. 4/6/2022 9 of 28
- 10. The first generation of BI (1980’s-1990’s) • Accessing and organizing data • In 1989, the term “Business Intelligence” become widespread. 4/6/2022 10 of 28
- 11. The Second generation of BI (2000’s) • Social Media platforms (Facebook, Twitter) • Most of the organizations employs BI developers • Large companies have some self-service BI tools. 4/6/2022 11 of 28
- 12. The Next Generation of BI 4/6/2022 12 of 28
- 13. What is Business Intelligence?? 4/6/2022 13 of 28
- 14. • Data Management • Reporting (visualization) • Data Analysis 4/6/2022 14 of 28
- 15. Data Management • Organizing data within well designed repositories • Integrating data from different sections • Integrating with external data sources (social media, open data…) • Ensuring good data quality 4/6/2022 15 of 28
- 16. Data Management Operational data 4/6/2022 16 of 28
- 18. Reporting Services • Data visualization techniques (Graphs, Pie charts …) • User-friendly reports • Live dashboards Understanding data better! 4/6/2022 18 of 28
- 19. Example (Quarterly Sales by regions) 4/6/2022 19 of 28
- 20. Example (Sales dashboards) 4/6/2022 20 of 28
- 21. Data Analysis • Systematically applying statistical and logical techniques to describe, illustrate, and evaluate data. • Find meaning in data so that the derived knowledge can be used to make informed decisions 4/6/2022 21 of 28
- 22. Analysis Types 4/6/2022 Reference: https://www.vovia.com/blog/analytics/what-is-prescriptive-analytics/ 22 of 28
- 23. Descriptive analysis 4/6/2022 23 of 28
- 24. Predictive analysis 4/6/2022 24 of 28
- 25. Prescriptive analysis 4/6/2022 Reference: https://en.wikipedia.org/wiki/Prescriptive_analytics 25 of 28
- 26. Artificial Intelligence 4/6/2022 26 of 28
- 27. 4/6/2022 27 of 28
- 28. TOP BI platforms in 2020 1.Microsoft Power BI 2.Tableau 3.Qlik 4.ThoughtSpot 5.MicroStrategy 6.TIBCO Software 7.Salesforce 8.Oracle SAS 9.SAP 10.Sisense 4/6/2022 Reference: https://www.gartner.com/reviews/market/analytics-business- intelligence-platforms 28 of 28
Hinweis der Redaktion
- At the end of this slide, you should know what business intelligence is and how it affects the decision-making process. And why it is worth implementing a BI solution within your company
- Before we start, let me ask you a question? Does anyone know a simple definition of decision making?
- In our daily life, we have tens of decision making. We should decide what we will eat? What should we wear? Or where to go? Mostly, It is normal to make wrong decisions.
- Within an organization, many decisions are taken on a daily, monthly, and yearly basis. The main difference is that most decisions are critical, and the wrong decision could be catastrophic.
- Not only the business owners are the ones who make decisions. Each section in the organization also makes decisions continuously.
- Years ago, decisions we made with gut instinct. Tips heard throughout careers and personal bias. Or companies should highly pay to get consultancy from experts.
- These days decisions have become data-driven or what we call Business Intelligence.
- The first time the “business intelligence” term is used in 1958 when “Hans Peter Luhn,” an IBM researcher, published a business intelligence system. This system abstracts all documents within an organization and automatically sends them to the appropriate action points based on words pattern. Hans was named later as the “Father of business intelligence.”
- Business Intelligence has evolved over three generations. The first one was from one thousand nine hundred eighty to nine hundred ninety. The primary purpose was to well organize the data for better accessibility. At the end of this period, the term BI become widespread.
- The second BI generation started with the rise of social media platforms and open data since they continuously generated huge data. At the end of this period, most of the organization employs BI developers, and the large ones have some self-service BI tools.
- With the rise of the internet of things and cloud computing technologies, a massive amount of data is generated continuously. The new analytics and machine learning techniques that allow getting insights from this massive amount of data led to a new business intelligence generation.
- So… What is business Intelligence?
- Business intelligence is a set of techniques that allows companies to get insights from data. In general, those techniques are categorized as (1) data management techniques. (2) data analysis and (3) data reporting services.
- Data management is a set of technologies and techniques used to organize data within databases well. Integrate the company's internal and external data sources by ensuring an acceptable data quality level.
- Mainly data is organized within operational repositories (databases) where all daily transactions are saved such as sales, products, phone calls.
- The second data repository type is the data warehouse, where data is integrated from different sources for analytical purposes. As example (the sales made in the last year grouped by regions)
- The reporting services are a set of data visualization techniques used to generate user-friendly reports and a live dashboard that gives a better understanding of the data.
- As an example, This is a chart showing the quarterly sales by regions.
- This is an example of a live sales dashboard
- Data analysis systematically applies statistical and logical techniques to describe, illustrate, and evaluate data. Also, it is used to find meaning in data with helps making informed decisions. Analysis can be descriptive or predictive.
- The descriptive analysis are used to explain the current values we have within the data, and to reveal the possible causes. This type can be done manually by inspecting the visualized data within reports.
- The predictive analysis is the process of predicting the excepted values in the future based on the previous values that we have. As an example, this graph shows the predicted sales values in red from the current values (in blue)
- The prescriptive analysis is the process of studying the possible decision that we can make over the predicted analysis results, and then studying the impacts of those decisions>
- Recently, the artificial intelligence techniques such machine learning, Computer vision, NLP and others become widely used to perform data analytics.
- The golden rule is the more that you have accurate data, you will make accurate decisions.
- Finally, Many BI tools are now provided by leading companies where Microsoft Power BI, Tableau and Qlik are one the top in 2020 referring to Gartner.