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Business Analytics Notes
Business Analytics Notes
3 categories:
1. Descriptive
2. Predictive Prescriptive Analytics
3. Discovery
Decision Support System- computer-based systems which help decision makers utilize data (and
models) to solve unstructured problems; improves the quality of decisions.
Business intelligence software are the tools that make it possible to create value from big data.
Some examples of business intelligence technologies include data warehouses, dashboards, ad hoc
reporting, data discovery tools and cloud data services.
- Enables easy access of data to allow managers to analyse data and make decisions
- Helps transform data to information, decisions and finally, action.
Architecture of BI
1. Data warehouse (source data)
2. Business Analytics, a collection of tools for manipulating, mining and analyzing the data in
the data warehouse
3. Business performance management (BPM) for monitoring and analyzing performance
4. User interface (eg dashboard)
Data Warehouse
-central repositories of integrated data from one or more disparate sources
-enterprise-wide, cleansed data in a standardized format
-subject oriented databases
-data stored is non- volatile- memory that can retain stored information even after power is removed.
-time-variant- changes with time
- provides access to real-time data
-includes metadata (data about data- how data are organized and how to effectively use them)
1. Data mart
-subset of data warehouse
-smaller and focusses on a particular subject or deparment
Dimensions- contain classification and aggregation information about the central fact rows,contain
attributes that describe the data in the fact table; they address how the data will be summarized &
analyzed.
Facts- quantitative info about business process, measurements,metrics etc eg. Sales volume, units
sold, customer retention rates, profit margins etc
Analysis of Data
OLAP- Online analytical processing
Online analytical processing, or OLAP, is an approach to answer multi-dimensional analytical
queries swiftly in computing.
PG 140
Data modeling (data modelling) is the process of creating a data model for the
data to be stored in a database. This data model is a conceptual representation
of Data objects, the associations between different data objects, and the rules.
Data modeling helps in the visual representation of data and enforces business
rules, regulatory compliances, and government policies on the data. Data
Models ensure consistency in naming conventions, default values, semantics,
security while ensuring quality of the data.
Customer and Product are two entities. Customer number and name are
attributes of the Customer entity
Product name and price are attributes of product entity
Sale is the relationship between the customer and product
Database Normalization
2nd normal firm = 1nf + each column depends on the entire primary key