Financial Information Management Business Intelligence Stefano Grazioli Critical Thinking Easy Meter Business Intelligence The processes, technologies, and people to turn data into information in order to drive profitable business action. - Wayne Eckerson, TDWI Source: B. Wixom BI and Analytics Analytics is the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions (Davenport and Harris Competing on Analytics) BI refers to the general ability to organize, access and analyze information in order to learn and understand the business. (Gartner) High quality data Accurate Timely Valid Business Value from Data Based on work by B. Wixom StrategyStrategy Data Use Business Value Usable data Awareness Access Usefulness Security Privacy Useful data Meaning Scope Sharing GIGO: data quality affects the quality of your decisions Analysts cannot find what they need 50% of the times 10-25% of the records have inaccuracies or missing elements Data frequently misinterpreted Known data loss and theft Most databases implement inconsistent definitions Source: T. Redman, Data Driven, 2008 Why is Data Bad? No one gets up in the morning and says Im going to make lots of errors today Source: T. Redman, Data Driven, 2008 Find the Data Quality issues Cust IDNameAddr1Addr2CityStateZipPhone 0345Daniel Steeper765 Spider CoveNew YorkNY Mr. BiggMr. Biggs Wigs, Inc.CvilleVirginia MJ Watson th StApt 45New York Carl Zeithaml34 Sprigg LaneCharlottesvilleVA22904(434) Danny Steeper765 Spider CoveNew YorkNY10012# Ben GrimmBroad and MainStauntonVA24403 null 0834Sue Storm8564 Carver Dr.NYCNYnull Daniel Steeper2345 Benson RdLos AngelesCA90210# StateIDState VAVirginia NYNew York WYnull Approaches to Data Quality 1.Find and Fix 2.Prevent at the source 3.Do nothing (3M) Financial Information Management WINIT What Is New In Technology? Financial Information Management Homework Business Scenario: Googles Daily Cagr Realistic task: You are a financial analyst at a broker firm Many of our customers invest for short amounts of time on Google. They sell their shares within a few weeks. I wonder: do they make any money out of it? Daily Cagr for Google file with ~800 customers who bought and sold GOOG within the last two months. Three steps (and two homework) 1.Clean data: phones, dates 2.Compute Daily Cagr = [(final price/initial price) 1/days ]-1 3.Report the Average Daily Cagr across all customers. Cleaning Phone Numbers From: # To: (234) When the user presses a button labeled start, a file selection windows pops out. The user selects a.csv file. The file is shown starting at A1. The start button becomes invisible. Three more buttons appear: Clean phone numbers, Format Dates, and Compute Daily CAGR. UML Activity Diagram - Daily Compound Average Growth of a Security (part I) Select the next phone no. Count its digits [Compute] [Exactly 10 digits] Next homework [Clean ph.no] Highlight the cell in red Format as (xxx)-xxx-xxxx & clear highlight if any [No More Ph.No] [Format Dates] A A Select the next item [is a date] Highlight the cell in yellow Format as mm/dd/yyyy & clear highlight if any [No More items in this column] A [No more columns] Select the next column Reading a File into EXCEL ' store the address of the current active sheet, i.e., the target Dim myActiveS As Excel.Worksheet = Application.ActiveSheet ' select a file Dim myFile As String = Application.GetOpenFilename() ' get the data in a new temporary workbook Application.Workbooks.OpenText(myFile,,, Excel.XlTextParsingType.xlDelimited,,,,, True) ' store the address of the temporary workbook Dim myActiveWB As Excel.Workbook = Application.ActiveWorkbook ' copy the content from the temporary to the target sheet myActiveS.Range("A1:J1000").Value = Application.ActiveSheet.Range("A1:J1000").Value close the temp workbook myActiveWB.Close() Finding the last non-empty row Dim lastRow As Integer lastRow = Cells(Rows.Count,1). End(Excel.XlDirection.xlUp). Row Suggestions Video available Give yourself plenty of time Ask questions in class if you do not understand what is going on