Chapter 12, Problem 2RQ

Explanation of Solution

Business intelligence:

• Business intelligence refers to the technologies, applications, infrastructures and tools that perform a main role in the planning process of the corporation.
• The set-up for analyzing data, reporting, warehousing and combining data from the business atmosphere.
• It gathers, stores, clean and makes appropriate data offered to managers.
• It consists of databases, data warehouses, and data markets...

Explanation of Solution

Elements of a Business intelligence environment:

• Data from the business environment:
  • Different sources of organized and unorganized data, Internet and mobile devices are combined and used by the decision makers.
• Business intelligence infrastructure:
  • Strong database systems capture the related data kept in transactional databases or combined into an enterprise-data warehouse or unified data marts.
• Business analytics tools:
  • Software tools used to examine data and send respond, reports to manager queries and use key pointers of presentation to follow a business growth...

Explanation of Solution

Analytic functionalities provided by Business Intelligence systems:

• Production reports
  • The predefined reports are constructed on business agree requirements.
• Parameterized reports
  • An Operator enter numerous constraints in a pivot table to screen data and separate effects of the constraints.
• Dashboards and scorecards
  • Visual tools are used to present records as created by users...

Explanation of Solution

Predictive analytics and location analytics with examples:

Predictive analytics is defined as an extraction of data from existing data sets which is used for analysis of statistics, mining and for upcoming expectations to forecast future developments and performance designs. It comprises the skill to develop the future actions and performance for past events.

Two examples of Predictive analytics:

• Predict age, gender, location and driving records in insurance policy companies to begin appropriate cost of plans.
• Predict the customer response to the product depends on offers in the product by the retailers...