Chapter 1 - Business intelligence and its impacts. This chapter presents the following content: Examples of business intelligence (BI); data, information, and knowledge; what is BI, factors that drive BI; BI and related technologies; BI in contemporary organizations. | Chapter 1: Business Intelligence and its Impacts Outline Examples of Business Intelligence (BI) Data, Information, and Knowledge What is BI Factors that drive BI BI and Related Technologies BI in contemporary organizations Improvement in Operational Performance Improvement in Customer Service Identification of New Opportunities in Contemporary Organizations Business Intelligence – A Highly Important Field Benefits Management effectively aided Intellectual capital better deployed Business operations improved Customer service enhanced New opportunities identified Data, Information, Knowledge Data May or may not be correct Ex. Sales order at a restaurant included a large burger, medium fries and milkshake Information Subset of data Data possessing context, relevance, and purpose Ex. The numbers indicating the daily sales (in dollars, quantity, etc.) of burgers, fries, vanilla milkshakes Knowledge Justified beliefs about relationships among concepts Ex. The relationship between the . | Chapter 1: Business Intelligence and its Impacts Outline Examples of Business Intelligence (BI) Data, Information, and Knowledge What is BI Factors that drive BI BI and Related Technologies BI in contemporary organizations Improvement in Operational Performance Improvement in Customer Service Identification of New Opportunities in Contemporary Organizations Business Intelligence – A Highly Important Field Benefits Management effectively aided Intellectual capital better deployed Business operations improved Customer service enhanced New opportunities identified Data, Information, Knowledge Data May or may not be correct Ex. Sales order at a restaurant included a large burger, medium fries and milkshake Information Subset of data Data possessing context, relevance, and purpose Ex. The numbers indicating the daily sales (in dollars, quantity, etc.) of burgers, fries, vanilla milkshakes Knowledge Justified beliefs about relationships among concepts Ex. The relationship between the quantity of bread that should be ordered, the quantity of bread in inventory, and the daily sales of burgers and other products that use bread. Data, Information, Knowledge, and Decisions © Sabherwal & Becerra-Fernandez Data Information Knowledge Data that has been processed so as to have context, relevance, and purpose Decisions Raw facts, observations, or perceptions Justified beliefs about relationships relevant to the decision Interpret Analyze Apply What is Business Intelligence (BI)? Information technology which provides decision makers with valuable information and knowledge by leveraging a variety of data sources as well as structured and unstructured information. Data sources external or internal to the organization Information quantitative or qualitative Output: knowledge Input: information and data Business intelligence tools: used in BI solutions Business solutions: support the BI process BI Product, Process, Solution, and Tools BI Solution BI Tools Other Technologies (.,
