Business Analytics 12. 1. Explain different ways in which IT supports decision making. 2. Provide...
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Transcript of Business Analytics 12. 1. Explain different ways in which IT supports decision making. 2. Provide...
Business Analytics
1212
1. Explain different ways in which IT supports decision making.
2. Provide examples of different ways that organizations make use of business intelligence (BI).
3. Explain the value that different BI applications provide to large and small businesses.
4. Offer examples of how businesses and government agencies can use different BI applications to analyze data.
5. Explain how your university could use CPM to effect solution to two campus problems.
1.Managers and Decision Making2.What Is Business Intelligence?3.Business Intelligence Applications for Data
Analysis4.Business Intelligence Applications for
Presenting Results5.Business Intelligence in Action: Corporate
Performance Management
[ [ Opening Case Opening Case Developing Smarter Developing Smarter
Cities through Analytics Cities through Analytics ]]
• The Problem
• The Solution
• The Results
• What We Learned from This Case
About About [small] [small] businessbusiness
Analytics Helps Farmers
12.1
Managers and Decision Makers
12.1
• The Manager’s Job and Decision Making
• Why Managers Need IT Support• What Information Technologies
Are Available to Support Managers?
• A Framework for Computerized Decision Analysis
The Manager’s Job and Decision Making
• Three basic roles of a manager– Interpersonal
– Informational
– Decisional
Why Managers Need IT Support
• Decision making is difficult due to the following trends:– Number of alternatives is constantly increasing
– Most decisions must be made under time pressure
– Increased uncertainty in the decision environment
– Often necessary to rapidly access remote information, consult with experts, or conduct a group decision-making session
What Information Technologies are Available to Support Managers?• Business Intelligence (BI)
A Framework for Computerized Decision Analysis• Problem Structure
– Structured– Semi-structure– Unstructured Decisions
• Nature of Decisions– Three broad categories of managerial decisions
• Operational control• Management control• Strategic planning
• The Decision Matrix• Computer Support for Structured Decisions
Problem Structure
• Structured• Semi-structure• Unstructured Decisions
Nature of Decision
• Three broad categories of managerial control in decision making– Operational control
– Management control
– Strategic planning
What is Business Intelligence?
12.2
• The Scope of Business Intelligence– The Development of One or a Few
Related BI Applications– The Development of Infrastructure to
Support Enterprise-wide BI– Support for Organizational
Transformation
[about business][about business]
Can We Predict the Weather?
12.2
[about business][about business]
Predicting Customer Behavior
12.3
Business Intelligence Applications for Data Analysis
12.3
• Multidimensional Analysis or Online Analytical Processing (OLAP) (aka, multidimensional analysis)
• Data Mining• Decision Support Systems
(DSS)
Data Mining is Used in:
• Retailing and sales• Banking• Manufacturing and production• Insurance• Police work• Healthcare• Marketing
Decision Support Systems (DSS)
• Sensitivity Analysis• What-if Analysis• Goal-Seeking Analysis
[about business][about business]
Analytics Helps to Reduce Injuries to Rugby Players
12.4
Business Intelligence Applications for Presenting Results
12.4
• Dashboards• Data Visualization
Technologies• Real-Time BI
Dashboards
• Capabilities of Dashboards– Drill-down
– Critical Success Factors (CSF)
– Key Performance Indicators (KPI)
– Status Access
– Trend Analysis
– Exception Reporting
Data Visualization Technologies
• Geographical Information Systems– Geocoding
• Reality Mining• Example
– New York City
– Singapore
– Other Major Cities
Business in Action: Corporate Performance Management
12.5
• Key Performance Indicators (KPI)
• Corporate Performance Management (CPM)– Example
• VAASAN Group
[[ Closing Case Closing Case Santa Cruz Police Santa Cruz Police
Department (SCPD) Department (SCPD) ]]
• The Problem
• The IT Solution
• The Results