Concept explainers
Definition of business intelligence and analytics.
Explanation of Solution
Business analytics is the methodology of using data and quantitative analysis techniques to support fact-based decision making of an organization. Business analytics is mainly used to understand the current business performance, find new business partners, optimize current operations, and predict future results of business.
Business intelligence (BI) is the approach which uses various applications, practices, and technologies to support improved decision-making of an organization. Various tasks done under the scope of BI are: extraction, transformation, integration, visualization, analysis, interpretation, and presentation of data. Data which is used by BI can come from multiple sources and can be internal and external as well.
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Chapter 6 Solutions
FUNDAMENTALS OF INFORMATION SYSTEMS
- Bring-your-own-device (BYOD) analytics might define a system.arrow_forwardDifferentiate between Data Analytics and Data Science?arrow_forwardExplain the concept of data warehousing and its role in business intelligence and analytics. Provide examples of data warehousing tools and platforms.arrow_forward
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