Scribd
Upload
41 views8 pages

Big Data Analytics - 7th Sem VTU 2018 Scheme - Class 1

Module 3 of the Big Data Analytics course covers Business Intelligence (BI) concepts, data warehousing, data mining, and data visualization. It emphasizes the importance of data-driven decision-making for business growth and competitive advantage, distinguishing between strategic and operational decisions. The module also highlights the role of BI in risk reduction and scenario analysis to support effective decision-making.

Uploaded by

venurao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
41 views8 pages

Big Data Analytics - 7th Sem VTU 2018 Scheme - Class 1

Module 3 of the Big Data Analytics course covers Business Intelligence (BI) concepts, data warehousing, data mining, and data visualization. It emphasizes the importance of data-driven decision-making for business growth and competitive advantage, distinguishing between strategic and operational decisions. The module also highlights the role of BI in risk reduction and scenario analysis to support effective decision-making.

Uploaded by

venurao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 8

Big Data Analytics

(15CS82)
Venugopala Rao A S
Dept. of CSE, SMVITM, Bantakal
Module 3
• Business Intelligence Concepts and Application,
• Data Warehousing
• Data Mining
• Data Visualization

• Text Book
• Anil Maheshwari, “Data Analytics”, 1st Edition, McGraw Hill
Education, 2017.

BDA-15CS82
Module 3
• Introduction:
• Business intelligence (BI) is an umbrella term that includes a
variety of IT applications that are used to analyze an
organization’s data and communicate the information to
relevant users.

• Fig: BIDM cycle


BDA-15CS82
Module 3
• The nature of businesses is to grow.
• Information is the life-blood of business.
• Businesses use many techniques to understand their
environment and predict the future for benefit and growth.
• Decisions are made from facts and feelings.
• Data-based decisions are more effective than those based on
feelings alone.
• Actions based on accurate data, information, knowledge,
experimentation, and testing, using fresh insights, can more
likely succeed and lead to sustained growth.
• One’s own data can be the most effective teacher.
• Therefore, organizations should gather data, go through it,
analyze and mine it, find insights, and then embed those
insights intoBDA-15CS82
their operating procedures.
Module 3
• Data can be mined for value, insights, and competitive
advantage.
• In a hyperconnected world, data represents the impulses of
nature in the form of certain events and attributes.
• A skilled business person need to use this cache of data to
harness nature, and to find new unserved opportunities leading to
profitable ventures
• BI for better decisions
• The future is uncertain.
• Risk is the result of a probabilistic world where there are no
certainties and complexities abound.
• People use crystal balls, astrology, palmistry, ground hogs, and
also mathematics and numbers to lessen risk in decision-making.
• The goal is to make effective decisions, while reducing risk.
BDA-15CS82
Module 3
• Businesses calculate risks and make decisions based on a
broad set of facts and insights.
• Reliable knowledge about the future can help managers make
the right decisions with lower levels of risk.
• In a hypercompetitive world, the speed of a decision and the
consequent action can be a key advantage.
• The Internet and mobile technologies allow decisions to be
made anytime, anywhere.
• Research has shown that an unfavorable comment about the
company and its products on social media should not go
unaddressed for long.
• On the other hand, a positive sentiment expressed on social
media should also be utilized as a potential sales and
promotion opportunity, before it lasts.
BDA-15CS82
Module 3
• Decision types
• Two main types of decisions:
• Strategic decisions and Operational decisions.
• Strategic decisions impact the direction of the company.
• E.g.: The decision to reach out to a new customer set would be
a strategic decision.
• Operational decisions are more routine and tactical decisions,
focused on developing greater efficiency.
• E.g.: Updating an old website with new features will be an
operational decision

BDA-15CS82
Module 3
• In strategic decision-making, the goal and the path to reach
the goal may or may not be clear.
• The consequences of the decision would be apparent some
time later.
• Thus, one is constantly scanning for new possibilities and new
paths to achieve the goals.
• BI can help with what-if analysis of many possible scenarios.
• BI can also help create new ideas based on new patterns found
from data mining.

BDA-15CS82

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy