‭ PPLICATION OF‬

A
‭ANALYTICS IN BUSINESS‬

‭Suggestions answers‬

‭MBA‬

‭SEM - 4‬

‭ repared by‬
P
‭Subhabrata Goswami‬
‭Mid sem suggestion:‬

‭ . What are the difference between business analytics (BA) and‬

1
‭business intelligence (BI)?‬
‭2. What do you mean by Business Performance Management‬
‭(BPM)? Why is it important for an organization?‬
‭3. What do you mean by Data Warehouse?‬
‭4. Explain the structure of Data Warehouse with diagram.‬
‭5. What are the components of business analytics? Explain its‬
‭working principle with a diagram.‬
‭6. What do you mean by business analytics?‬
‭7. What are the different types of business analytics?‬
‭8. What is the difference between OLAP and OLTP?‬
‭9. Difference between Data and Information.‬
‭10. What is a Relational Database?‬
‭11. How does a Relational Database works, Explain with an‬
‭Example?‬
‭12. Explain the process of ETL (Extract, Transform, Load) in the‬
‭context of data warehousing. Discuss the challenges that may‬
‭arise during each phase of the ETL process and suggest‬
‭strategies to overcome these challenges. Use relevant real-world‬
‭examples to support your discussion.‬
‭13. What is meta data explain with example‬

‭Final sem suggestion:‬

‭ 4. What is Data and information‬

1
‭15. What is Data warehouse‬
‭16. What is OLAP & OLTP‬
‭17. Characteristics of unstructured data‬
‭18. Difference between copilot and power BI‬
‭19. What is data mining and its process‬
‭20. Dashboard and its utilisation in today’s world‬
‭21. Difference between text analytics and text mining‬
‭ 2. Social media analytics and its use in today’s world example‬
2
‭23. What is RDBMS ? relationship between primary key and‬
‭foreign key ?‬
‭24. What is meta data‬
‭25. What are the drawback of semi structured data‬
‭26. What are the steps to clean the data and store in the‬
‭database‬
‭27. Use of AI in banking, its benefits and challenges .‬
‭28. Use of AI tools in making marketing strategy, banking‬
‭investment, share market investment, benefits and challenges in‬
‭implementing this in the data field.‬
‭29. Explain ELT process‬
‭30. What is data science‬
‭31. What is decision support system‬
‭32. What is transaction processing system‬
‭33. What is data mart and its types‬
‭34. What are the different types of warehouse (top down db)‬
‭35. Components of Business intelligence‬
‭36. How is the data stored in data warehouse‬
‭37. Difference between UI and UX‬
‭38. What is SQL Server Analysis Service (SSAS)‬
‭39. What is KPI‬
‭40. What is BPM (business performance management )‬
‭41. What is business analytics and its components‬

‭42. McDonald’s flipkart shoperstop (case study)‬

‭1. Difference between Business Analytics (BA) and‬
‭Business Intelligence (BI)‬
‭Business Intelligence (BI):‬

‭●‬ D ‭ efinition: BI refers to technologies, applications, and practices for the collection,‬
‭integration, analysis, and presentation of business information. The purpose of BI‬
‭is to support better business decision-making.‬
‭●‬ ‭Focus: BI focuses on descriptive and diagnostic analytics to understand past and‬
‭current performance. It primarily deals with structured data.‬
‭●‬ ‭Tools: Common BI tools include reporting tools, dashboards, and data‬
‭visualization tools like Tableau, Power BI, and Qlik.‬
‭●‬ ‭Output: BI generates reports, dashboards, and visualizations to provide insights‬
‭into historical and current data.‬
‭●‬ ‭Usage: BI is used for reporting, operational dashboards, and monitoring KPIs.‬

‭Business Analytics (BA):‬

‭●‬ D ‭ efinition: BA involves the use of statistical analysis, predictive modeling, and‬
‭other techniques to analyze historical data and predict future trends.‬
‭●‬ ‭Focus: BA focuses on predictive and prescriptive analytics to forecast future‬
‭trends and recommend actions.‬
‭●‬ ‭Tools: BA tools include statistical and machine learning tools like R, Python, SAS,‬
‭and advanced analytics platforms.‬
‭●‬ ‭Output: BA provides predictive models, recommendations, and optimization‬
‭solutions.‬
‭●‬ ‭Usage: BA is used for forecasting, predictive modeling, and optimization.‬

‭Key Differences:‬

‭●‬ P ‭ urpose: BI is more about reporting and visualizing past and present data, while‬
‭BA is about analyzing data to predict and influence future outcomes.‬
‭●‬ ‭Data Type: BI typically deals with structured data, whereas BA can handle both‬
‭structured and unstructured data.‬
‭●‬ ‭Techniques: BI uses descriptive and diagnostic analytics, while BA uses‬
‭predictive and prescriptive analytics.‬
‭2. Business Performance Management (BPM)‬
‭ efinition:‬
D
‭Business performance management (BPM) is a process that allows businesses to‬
‭monitor the methods used to reach strategy goals, so that they can continuously‬
‭develop those methods to become more efficient and effective and ultimately increase‬
‭business performance.‬

‭Importance:‬

‭ usiness performance management is a beneficial way to evaluate employees‬

B
‭and overall company behaviour. A company that uses business performance‬
‭management considers crucial data and goal progress in analysing how they are‬
‭doing.‬

‭ here are many aspects of business performance to manage, from people to‬
T
‭processes to financial performance. However, for all business performance‬
‭management processes, they all involve three main activities:‬

‭1. Goal selection‬

‭2. Information monitoring and consolidation‬

‭3. Managerial adjustments‬

‭Goal selection‬

‭ oal selection is when the business decides on short- and long-term goals. At‬
G
‭times, the company might decide to focus on specific goals and chose to‬
‭postpone others. This allows for dedicated time, energy and resources spent on‬
‭a few selected goals instead of a broader focus on many goals.‬

‭Information consolidation‬

I‭nformation consolidation, also known as information monitoring, is the gathering‬

‭of data on the business. This activity provides significant information for the‬
‭management team to assess and guide decision-making. When a‬

‭ usiness uses information consolidation, they aim to provide accurate and‬

b
‭reliable information for the team's reference.‬
 ‭Management intervention‬

‭ management intervention, also known as a "managerial adjustment," is the‬

A
‭action the management takes to improve business functioning. The business‬
‭determines this decision by referring to data from information consolidation,‬
‭considering the business mission and reviewing goals. For example, a supervisor‬
‭might begin to check in with an employer weekly rather than on a bi-weekly‬
‭basis. This approach provides an additional opportunity to ask questions.‬

‭3. Data Warehouse‬

‭ efinition:‬
D
‭A Data Warehouse is a central repository of integrated data from one or more disparate‬
‭sources. It stores current and historical data in one place and is used for creating‬
‭analytical reports.‬

‭Characteristics:‬

‭●‬ S ‭ ubject-Oriented: Organized around key subjects like customers, sales, or‬
‭products.‬
‭●‬ ‭Integrated: Data is collected from various sources and integrated into a single‬
‭repository.‬
‭●‬ ‭Non-volatile: Data is stable in the sense that once it is entered, it is not changed.‬
‭●‬ ‭Time-Variant: Data warehouse data is stored in a way that allows for historical‬
‭analysis.‬

‭4. Structure of Data Warehouse‬

‭Structure:‬

‭1.‬ D ‭ ata Sources: Multiple sources like transactional databases, ERP systems, CRM‬
‭systems, and external data sources.‬
‭2.‬ ‭ETL Process: Extract, Transform, Load (ETL) process that cleans, transforms,‬
‭and loads data into the data warehouse.‬
‭3.‬ ‭Staging Area: Temporary storage for data before it is transformed and loaded.‬
‭4.‬ ‭Data Warehouse Storage: Organized storage using schemas like star schema or‬
‭snowflake schema for efficient querying.‬
‭5.‬ ‭Data Presentation Layer: Tools and interfaces for querying, reporting, and data‬
‭analysis.‬

‭Diagram:‬

‭ ata Sources --> ETL Process --> Staging Area --> Data Warehouse Storage -->‬
D
‭Data Presentation Layer‬
‭5. Components of Business Analytics‬
‭Components:‬

‭1.‬ D ‭ ata Management: Involves collecting, storing, and maintaining data. This‬
‭includes databases, data warehouses, and data lakes.‬
‭2.‬ ‭Analytics Models: Statistical and machine learning models used to analyze data‬
‭and make predictions.‬
‭3.‬ ‭Visualization Tools: Tools like Tableau and Power BI that help present data in a‬
‭visual format for easy understanding.‬
‭4.‬ ‭Reporting Tools: Tools that generate detailed reports and dashboards to‬
‭communicate findings and insights.‬

‭Working Principle with Diagram:‬

‭Diagram:‬

‭Data Management --> Analytics Models --> Visualization Tools --> Reporting Tools‬

‭6. Business Analytics‬

‭ efinition:‬
D
‭Business Analytics involves the practice of iterative, methodical exploration of an‬
‭organization’s data with an emphasis on statistical analysis. It is used by companies‬
‭committed to data-driven decision-making.‬

‭7. Types of Business Analytics‬

‭1.‬ D ‭ escriptive Analytics: Analyzes historical data to understand what has happened‬
‭in the past.‬
‭2.‬ ‭Diagnostic Analytics: Looks at historical data to determine why something‬
‭happened.‬
‭3.‬ ‭Predictive Analytics: Uses statistical models and machine learning techniques to‬
‭forecast future events.‬
‭4.‬ ‭Prescriptive Analytics: Recommends actions you can take to affect desired‬
‭outcomes.‬
‭8. Difference between OLAP and OLTP‬
‭OLAP (Online Analytical Processing):‬

‭‬
● ‭ urpose: Used for complex queries and analysis.‬
P
‭●‬ ‭Data: Historical data, large volumes.‬
‭●‬ ‭Queries: Complex queries that involve aggregations.‬
‭●‬ ‭Performance: Optimized for read-heavy operations.‬
‭●‬ ‭Use Case: Data warehousing and business intelligence.‬

‭OLTP (Online Transaction Processing):‬

‭‬
● ‭ urpose: Used for transaction-oriented tasks.‬
P
‭●‬ ‭Data: Current, detailed data.‬
‭●‬ ‭Queries: Simple queries involving individual transactions.‬
‭●‬ ‭Performance: Optimized for write-heavy operations.‬
‭●‬ ‭Use Case: Operational databases like banking systems and e-commerce.‬

‭9. Difference between Data and Information‬

‭‬ D
● ‭ ata: Raw, unprocessed facts and figures without context (e.g., numbers, dates).‬
‭●‬ ‭Information: Processed data that has context, meaning, and relevance (e.g.,‬
‭sales data showing trends).‬

‭10. Relational Database‬

‭ efinition:‬
D
‭A Relational Database is a type of database that stores and provides access to data‬
‭points that are related to one another. Data is organized into tables (relations) that are‬
‭linked by defined relationships.‬
‭11. How Relational Database Works (Example)‬
‭Example:‬
‭12. ETL Process in Data Warehousing‬
‭Extract, Transform, Load (ETL):‬

‭‬ E
● ‭ xtract: Retrieving data from various sources.‬
‭●‬ ‭Transform: Cleaning and transforming data into a suitable format.‬
‭●‬ ‭Load: Loading the transformed data into the data warehouse.‬

‭Challenges:‬

‭‬ E
● ‭ xtraction: Handling different data formats and ensuring data accuracy.‬
‭●‬ ‭Transformation: Ensuring data quality and consistency during transformation.‬
‭●‬ ‭Loading: Managing large volumes of data and ensuring efficient loading‬
‭processes.‬

‭Strategies to Overcome Challenges:‬

‭‬ E
● ‭ xtraction: Use robust connectors and APIs to handle diverse data sources.‬
‭●‬ ‭Transformation: Implement comprehensive data validation and quality checks.‬
‭●‬ ‭Loading: Use batch processing and incremental loading techniques to manage‬
‭large data volumes.‬

‭Real-World Example:‬

‭ retail company extracting sales data from multiple point-of-sale systems, transforming‬
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‭it to a standardized format, and loading it into a centralized data warehouse for analysis.‬

‭13. Metadata‬
‭ efinition:‬
D
‭Metadata is data that provides information about other data. It helps users understand‬
‭the content, context, and structure of the data.‬

‭Example:‬

‭●‬ F ‭ ile Metadata: Includes details like file name, size, type, creation date, and last‬
‭modified date.‬
‭●‬ ‭Database Metadata: Includes information about tables, columns, data types,‬
‭constraints, and indexes.‬
‭14. What is Data and Information‬
‭Data:‬

‭●‬ D ‭ efinition:‬‭Data are raw, unprocessed facts and figures without any context or‬
‭meaning. Data can be numbers, characters, symbols, or other outputs from‬
‭devices to convert physical quantities into symbols.‬
‭●‬ ‭Example:‬‭A list of numbers such as 1, 2, 3, 4, or raw text like "John",‬
‭"2023-05-29", "5.75".‬
‭●‬ ‭Characteristics:‬‭Unorganized, lacks context, often requires processing to‬
‭become useful.‬

‭Information:‬

‭●‬ D ‭ efinition:‬‭Information is data that has been processed, organized, or structured‬

‭in a way that adds context and meaning, making it useful for decision-making.‬
‭●‬ ‭Example:‬‭A report showing the total sales for each month of the year,‬
‭transforming raw sales data into an insightful summary.‬
‭●‬ ‭Characteristics:‬‭Organized, meaningful, provides context, and is useful for‬
‭making decisions.‬

‭15. What is Data Warehouse‬

‭ efinition:‬‭A data warehouse is a centralized repository that stores large volumes of‬
D
‭data collected from various sources. It is designed for query and analysis rather than‬
‭transaction processing. It typically contains historical data derived from transaction data,‬
‭but it can include data from other sources.‬

‭Characteristics:‬

‭●‬ S ‭ ubject-Oriented:‬‭Organized around key subjects such as customers, sales, or‬

‭products.‬
‭●‬ ‭Integrated:‬‭Combines data from multiple sources into a consistent format.‬
‭●‬ ‭Non-Volatile:‬‭Once data is entered, it is not changed.‬
‭●‬ ‭Time-Variant:‬‭Contains historical data to track changes over time.‬

‭ xample:‬‭A retail company using a data warehouse to store sales data, customer‬
E
‭information, and inventory records from various stores and systems.‬
‭16. What is OLAP & OLTP‬
‭OLAP (Online Analytical Processing):‬

‭●‬ D ‭ efinition:‬‭OLAP systems are designed for query and reporting, allowing users‬
‭to analyze data from multiple database systems at once.‬
‭●‬ ‭Focus:‬‭Data analysis and complex queries on historical data.‬
‭●‬ ‭Characteristics:‬‭Multidimensional views of data, complex calculations, trend‬
‭analysis, and data mining.‬
‭●‬ ‭Example:‬‭A marketing department using OLAP to analyze sales trends over the‬
‭past five years.‬

‭OLTP (Online Transaction Processing):‬

‭●‬ D ‭ efinition:‬‭OLTP systems are designed to manage transaction data. They are‬
‭optimized for a large number of short online transactions.‬
‭●‬ ‭Focus:‬‭Managing day-to-day transactional data.‬
‭●‬ ‭Characteristics:‬‭Fast query processing, high transaction volume, and data‬
‭integrity in multi-access environments.‬
‭●‬ ‭Example:‬‭A banking system that handles daily transactions such as deposits,‬
‭withdrawals, and transfers.‬

‭17. Characteristics of Unstructured Data‬

‭ efinition:‬‭Unstructured data refers to information that does not have a predefined data‬
D
‭model or is not organized in a pre-defined manner.‬

‭Characteristics:‬

‭●‬ V ‭ ariety:‬‭Includes various formats such as text, images, videos, social media‬
‭posts, emails, and sensor data.‬
‭●‬ ‭Complexity:‬‭Often complex and can include a mix of different types of data.‬
‭●‬ ‭Volume:‬‭Typically large in volume due to the diverse nature of sources and‬
‭formats.‬
‭●‬ ‭Flexibility:‬‭More flexible than structured data as it does not follow a strict‬
‭schema.‬
‭●‬ ‭Storage:‬‭Requires advanced storage solutions like NoSQL databases or‬
‭Hadoop.‬

‭Example:‬‭Emails, social media posts, satellite imagery, and sensor data.‬

‭18. Difference between Copilot and Power BI‬
‭Copilot:‬

‭●‬ D ‭ efinition:‬‭A term often associated with AI-powered tools that assist users in‬
‭completing tasks. For example, Microsoft Copilot integrates AI into applications‬
‭to help with content creation, data analysis, coding, and more.‬
‭●‬ ‭Focus:‬‭Assisting users in performing specific tasks more efficiently through‬
‭AI-driven suggestions and automation.‬

‭Power BI:‬

‭●‬ D ‭ efinition:‬‭A business analytics service by Microsoft that provides interactive‬

‭visualizations and business intelligence capabilities with an interface simple‬
‭enough for end-users to create their reports and dashboards.‬
‭●‬ ‭Focus:‬‭Data visualization, dashboard creation, and sharing insights within an‬
‭organization.‬

‭Key Differences:‬

‭●‬ P ‭ urpose:‬‭Copilot is more of an AI assistant, while Power BI is a data‬

‭visualization and analytics tool.‬
‭●‬ ‭Usage:‬‭Copilot assists in various tasks across different applications, whereas‬
‭Power BI is specifically for data analytics and visualization.‬

‭19. What is Data Mining and Its Process‬

‭ efinition:‬‭Data mining is the process of discovering patterns, correlations, and‬
D
‭anomalies within large sets of data to predict outcomes. Using a broad range of‬
‭techniques, data mining can find hidden patterns in data for various uses in business‬
‭intelligence and predictive analytics.‬

‭Process:‬

‭ .‬
1 ‭ ata Collection:‬‭Gathering data from various sources.‬
D
‭2.‬ ‭Data Cleaning:‬‭Removing noise and inconsistencies from the data.‬
‭3.‬ ‭Data Integration:‬‭Combining data from multiple sources into a coherent dataset.‬
‭4.‬ ‭Data Selection:‬‭Selecting relevant data for analysis.‬
‭5.‬ ‭Data Transformation:‬‭Converting data into suitable formats for analysis.‬
‭6.‬ ‭Data Mining:‬‭Applying algorithms to extract patterns from the data.‬
‭7.‬ ‭Pattern Evaluation:‬‭Identifying the truly interesting patterns representing‬
‭knowledge based on given measures.‬
‭ .‬ ‭Knowledge Presentation:‬‭Presenting the mined knowledge in a‬
8
‭comprehensible format, such as reports or visualizations.‬
‭ xample:‬‭A retail chain using data mining to analyze customer purchase patterns and‬
E
‭predict future buying behaviors to optimize inventory and marketing strategies.‬

‭20. Dashboard and Its Utilization in Today’s World‬

‭ efinition:‬‭A dashboard is an interactive, visual interface that displays key metrics and‬
D
‭data points to provide an at-a-glance view of performance and trends.‬

‭Utilization:‬

‭●‬ B ‭ usiness Performance Monitoring:‬‭Real-time tracking of key performance‬

‭indicators (KPIs) and metrics.‬
‭●‬ ‭Decision-Making:‬‭Visualizing data to support strategic decisions and operational‬
‭adjustments.‬
‭●‬ ‭Operations Management:‬‭Monitoring daily operations, identifying issues‬
‭promptly, and ensuring smooth business processes.‬
‭●‬ ‭Reporting:‬‭Simplifying complex data into easy-to-understand visual reports for‬
‭stakeholders and management.‬

‭ xample:‬‭A sales dashboard displaying real-time sales figures, targets, and‬

E
‭performance trends helps sales managers and teams make informed decisions quickly‬
‭and efficiently.‬

‭21. Difference Between Text Analytics and Text Mining‬

‭Text Analytics:‬

‭●‬ D ‭ efinition:‬‭Text analytics involves the process of converting unstructured text‬

‭data into meaningful data for analysis. It focuses on extracting high-quality‬
‭information from text.‬
‭●‬ ‭Focus:‬‭Summarizing and deriving patterns from large sets of textual data to gain‬
‭insights.‬
‭●‬ ‭Techniques:‬‭Includes sentiment analysis, keyword extraction, categorization,‬
‭and summarization.‬
‭●‬ ‭Output:‬‭Provides structured data outputs that can be used for further analysis.‬

‭Text Mining:‬

‭●‬ D
‭ efinition:‬‭Text mining is the process of exploring large amounts of unstructured‬
‭text data to discover patterns and hidden relationships.‬
 ‭●‬ F ‭ ocus:‬‭Digging deeper into text data to find novel insights and relationships that‬
‭are not immediately apparent.‬
‭●‬ ‭Techniques:‬‭Uses natural language processing (NLP), machine learning, and‬
‭statistical techniques to uncover patterns.‬
‭●‬ ‭Output:‬‭Reveals new knowledge and relationships within the text data.‬

‭Key Differences:‬

‭●‬ P ‭ urpose:‬‭Text analytics focuses on summarizing and analyzing textual data,‬

‭while text mining seeks to discover hidden patterns and relationships.‬
‭●‬ ‭Techniques:‬‭Text mining involves more advanced computational methods‬
‭compared to text analytics.‬
‭●‬ ‭Output:‬‭Text analytics produces structured data for analysis; text mining‬
‭generates new insights from unstructured data.‬

‭22. Social Media Analytics and Its Use in Today’s World‬

‭ efinition:‬‭Social media analytics is the process of gathering and analyzing data from‬
D
‭social media platforms to inform business decisions.‬

‭Uses in Today’s World:‬

‭●‬ B ‭ rand Monitoring:‬‭Tracking mentions of a brand to understand public‬

‭perception and respond to feedback.‬
‭●‬ ‭Customer Insights:‬‭Gaining insights into customer preferences, behaviors, and‬
‭demographics to tailor marketing strategies.‬
‭●‬ ‭Trend Analysis:‬‭Identifying trends and emerging topics to stay ahead in the‬
‭market.‬
‭●‬ ‭Competitor Analysis:‬‭Monitoring competitors' social media activity to‬
‭understand their strategies and performance.‬
‭●‬ ‭Campaign Performance:‬‭Measuring the success of social media campaigns to‬
‭optimize future marketing efforts.‬

‭ xample:‬‭A company uses social media analytics to monitor the sentiment around its‬
E
‭latest product launch. By analyzing mentions and sentiment on platforms like Twitter‬
‭and Facebook, the company can gauge public reaction and make real-time adjustments‬
‭to its marketing strategy.‬
‭ 3. What is RDBMS? Relationship Between Primary Key‬
2
‭and Foreign Key‬
‭RDBMS (Relational Database Management System):‬

‭●‬ D ‭ efinition:‬‭An RDBMS is a type of database management system that stores‬

‭data in a structured format, using rows and columns. It allows for the efficient‬
‭storage, retrieval, and manipulation of data through relational models.‬
‭●‬ ‭Examples:‬‭MySQL, Oracle, SQL Server, PostgreSQL.‬

‭Primary Key:‬

‭●‬ D ‭ efinition:‬‭A primary key is a unique identifier for a record in a database table. It‬
‭ensures that each record can be uniquely identified.‬
‭●‬ ‭Characteristics:‬‭Must be unique and cannot be null.‬

‭Foreign Key:‬

‭●‬ D ‭ efinition:‬‭A foreign key is a field (or a collection of fields) in one table that‬
‭uniquely identifies a row in another table. It establishes a relationship between‬
‭the two tables.‬
‭●‬ ‭Purpose:‬‭To maintain referential integrity between tables.‬

‭Relationship:‬

‭24. What is Metadata‬

‭ efinition:‬‭Metadata is data that provides information about other data. It helps to‬
D
‭understand, use, and manage data effectively.‬

‭Examples:‬

‭●‬ D
‭ escriptive Metadata:‬‭Describes the content and context of data, such as title,‬
‭author, and keywords.‬
 ‭●‬ S ‭ tructural Metadata:‬‭Describes the structure of data, such as how data is‬
‭organized (e.g., tables and columns in a database).‬
‭●‬ ‭Administrative Metadata:‬‭Provides information about data management, such‬
‭as creation date, file type, and permissions.‬

‭ xample:‬‭In a library catalog, metadata includes the book's title, author, publication‬
E
‭date, genre, and ISBN number. This helps users find and manage books in the catalog.‬

‭25. Drawbacks of Semi-Structured Data‬

‭ efinition:‬‭Semi-structured data does not conform to a strict data model but contains‬
D
‭tags or markers to separate data elements.‬

‭Drawbacks:‬

‭‬ C
● ‭ omplexity:‬‭More complex to process and analyze compared to structured data.‬
‭●‬ ‭Scalability Issues:‬‭May face challenges in scaling due to the variability in data‬
‭formats.‬
‭●‬ ‭Data Integration:‬‭Difficult to integrate with structured data systems.‬
‭●‬ ‭Storage Inefficiency:‬‭May require more storage space due to lack of a fixed‬
‭schema.‬
‭●‬ ‭Inconsistency:‬‭Can lead to inconsistent data due to lack of standardization.‬

‭26. Steps to Clean Data and Store in the Database‬

‭ .‬ D
1 ‭ ata Collection:‬‭Gather raw data from various sources.‬
‭2.‬ ‭Data Profiling:‬‭Assess the quality and structure of the data.‬
‭3.‬ ‭Data Cleaning:‬
‭○‬ ‭Remove Duplicates:‬‭Identify and eliminate duplicate records.‬
‭○‬ ‭Handle Missing Values:‬‭Address missing data by imputation or deletion.‬
‭○‬ ‭Correct Errors:‬‭Fix data entry errors and inconsistencies.‬
‭○‬ ‭Standardize Formats:‬‭Ensure consistent data formats (e.g., date‬
‭formats).‬
‭4.‬ ‭Data Transformation:‬‭Convert data into the required format or structure.‬
‭5.‬ ‭Validation:‬‭Ensure data meets quality standards and business rules.‬
‭6.‬ ‭Loading into Database:‬‭Use ETL (Extract, Transform, Load) processes to load‬
‭clean data into the database.‬

‭ xample:‬‭A company collects sales data from multiple sources, cleans the data by‬
E
‭removing duplicates and correcting errors, and then loads the clean data into a‬
‭centralized data warehouse for analysis.‬
‭27. Use of AI in Banking: Benefits and Challenges‬
‭Benefits:‬

‭●‬ F ‭ raud Detection:‬‭AI algorithms can detect unusual patterns and potential fraud‬
‭in real-time.‬
‭●‬ ‭Customer Service:‬‭Chatbots and virtual assistants provide 24/7 customer‬
‭support, enhancing customer experience.‬
‭●‬ ‭Risk Management:‬‭AI models can predict and mitigate financial risks by‬
‭analyzing market trends and customer behaviors.‬
‭●‬ ‭Personalized Services:‬‭AI can tailor financial products and services to individual‬
‭customer needs.‬
‭●‬ ‭Operational Efficiency:‬‭Automates routine tasks, reducing operational costs‬
‭and increasing efficiency.‬

‭Challenges:‬

‭‬ D
● ‭ ata Privacy:‬‭Ensuring the security and privacy of sensitive customer data.‬
‭●‬ ‭Bias in AI Models:‬‭AI algorithms can inherit biases from the data they are‬
‭trained on, leading to unfair outcomes.‬
‭●‬ ‭Regulatory Compliance:‬‭Meeting regulatory requirements and ensuring‬
‭transparency in AI decision-making processes.‬
‭●‬ ‭Integration:‬‭Integrating AI solutions with existing banking systems and‬
‭processes can be complex and costly.‬
‭●‬ ‭Customer Trust:‬‭Building and maintaining customer trust in AI-driven services.‬

‭ xample:‬‭A bank uses AI-powered fraud detection systems to analyze transaction‬

E
‭patterns and flag suspicious activities in real-time, reducing the risk of fraudulent‬
‭transactions.‬

‭ 8. Use of AI Tools in Marketing Strategy, Banking‬

2
‭Investment, and Share Market Investment: Benefits and‬
‭Challenges‬
‭Marketing Strategy:‬

‭●‬ P ‭ ersonalization:‬‭AI tools analyze customer data to create personalized‬

‭marketing campaigns, improving engagement and conversion rates.‬
‭●‬ ‭Predictive Analytics:‬‭AI predicts customer behavior and trends, helping‬
‭marketers make data-driven decisions.‬
‭●‬ ‭Customer Segmentation:‬‭AI algorithms can segment customers based on‬
‭various attributes, enabling targeted marketing.‬
‭●‬ ‭Chatbots and Virtual Assistants:‬‭Provide real-time customer support,‬
‭improving customer experience and retention.‬
‭Banking Investment:‬

‭●‬ R ‭ isk Assessment:‬‭AI evaluates the risk profiles of investments, helping banks‬
‭make informed decisions.‬
‭●‬ ‭Portfolio Management:‬‭AI-driven tools optimize investment portfolios based on‬
‭market trends and individual risk tolerance.‬
‭●‬ ‭Fraud Detection:‬‭AI systems detect fraudulent activities in real-time, enhancing‬
‭security.‬
‭●‬ ‭Customer Insights:‬‭Analyzing customer data to offer personalized investment‬
‭advice.‬

‭Share Market Investment:‬

‭●‬ A ‭ lgorithmic Trading:‬‭AI algorithms execute trades at high speed and frequency,‬
‭optimizing buy/sell decisions.‬
‭●‬ ‭Market Sentiment Analysis:‬‭AI analyzes news, social media, and other sources‬
‭to gauge market sentiment and predict stock movements.‬
‭●‬ ‭Portfolio Optimization:‬‭AI tools continuously assess and adjust investment‬
‭portfolios for maximum returns.‬
‭●‬ ‭Risk Management:‬‭AI predicts market volatility and potential risks, enabling‬
‭proactive risk management.‬

‭Benefits:‬

‭ ‬ I‭ncreased Efficiency:‬‭Automates complex tasks, reducing time and effort.‬

●
‭●‬ ‭Improved Accuracy:‬‭Minimizes human errors, enhancing decision-making‬
‭precision.‬
‭●‬ ‭Cost Savings:‬‭Reduces operational costs through automation and optimization.‬
‭●‬ ‭Enhanced Customer Experience:‬‭Provides personalized and timely services to‬
‭customers.‬

‭Challenges:‬

‭‬ D
● ‭ ata Privacy:‬‭Ensuring the security and privacy of customer data is paramount.‬
‭●‬ ‭Bias in AI Models:‬‭AI can inherit biases from training data, leading to biased‬
‭outcomes.‬
‭●‬ ‭Regulatory Compliance:‬‭Meeting regulatory requirements and ensuring‬
‭transparency in AI processes.‬
‭●‬ ‭Integration:‬‭Integrating AI with existing systems can be complex and costly.‬
‭●‬ ‭Trust:‬‭Building trust in AI-driven decisions among stakeholders and customers.‬

‭29. Explain ELT Process‬

‭ efinition:‬‭ELT (Extract, Load, Transform) is a data integration process where data is‬
D
‭extracted from various sources, loaded into a data warehouse, and then transformed‬
‭into a suitable format for analysis.‬
‭Process:‬

‭1.‬ E ‭ xtract:‬‭Data is extracted from various sources such as databases, APIs, flat‬
‭files, etc.‬
‭2.‬ ‭Load:‬‭The extracted data is loaded into the target data warehouse or data lake in‬
‭its raw form.‬
‭3.‬ ‭Transform:‬‭Data is then transformed within the data warehouse.‬
‭Transformations include cleaning, aggregating, and converting data into the‬
‭desired format.‬

‭ xample:‬‭A company extracts sales data from multiple systems, loads the raw data into‬
E
‭a data warehouse, and then transforms it to generate sales reports and insights.‬

‭Advantages:‬

‭●‬ P ‭ erformance:‬‭Loading raw data first can improve performance, as‬

‭transformations are applied after loading.‬
‭●‬ ‭Scalability:‬‭ELT is scalable, handling large volumes of data efficiently.‬
‭●‬ ‭Flexibility:‬‭Data is available in its raw form for various analyses and‬
‭transformations.‬

‭30. What is Data Science‬

‭ efinition:‬‭Data science is an interdisciplinary field that uses scientific methods,‬
D
‭processes, algorithms, and systems to extract knowledge and insights from structured‬
‭and unstructured data.‬

‭Key Components:‬

‭‬ S
● ‭ tatistics and Mathematics:‬‭Foundation for data analysis and modeling.‬
‭●‬ ‭Programming:‬‭Languages like Python and R are used for data manipulation and‬
‭analysis.‬
‭●‬ ‭Machine Learning:‬‭Algorithms and models to predict and classify data.‬
‭●‬ ‭Domain Expertise:‬‭Understanding of the field from which the data is drawn.‬
‭●‬ ‭Data Visualization:‬‭Techniques to visualize data insights clearly and effectively.‬

‭Applications:‬

‭‬ H
● ‭ ealthcare:‬‭Predictive models for disease outbreaks, personalized medicine.‬
‭●‬ ‭Finance:‬‭Fraud detection, risk assessment, algorithmic trading.‬
‭●‬ ‭Retail:‬‭Customer segmentation, inventory optimization, recommendation‬
‭systems.‬
‭31. What is Decision Support System (DSS)‬
‭ efinition:‬‭A Decision Support System (DSS) is a computerized system that supports‬
D
‭business or organizational decision-making activities. It analyzes large volumes of data‬
‭to help users make informed decisions.‬

‭Components:‬

‭‬ D
● ‭ ata Management:‬‭Collects and manages data from various sources.‬
‭●‬ ‭Model Management:‬‭Applies analytical models to data to generate insights.‬
‭●‬ ‭User Interface:‬‭Allows users to interact with the DSS and visualize results.‬

‭Applications:‬

‭‬ B
● ‭ usiness Management:‬‭Financial planning, sales forecasting.‬
‭●‬ ‭Healthcare:‬‭Diagnosis support, treatment planning.‬
‭●‬ ‭Logistics:‬‭Route optimization, supply chain management.‬

‭32. What is Transaction Processing System (TPS)‬

‭ efinition:‬‭A Transaction Processing System (TPS) is a system that processes‬
D
‭business transactions, ensuring that they are recorded accurately and efficiently. TPS is‬
‭designed for routine, repetitive tasks.‬

‭Characteristics:‬

‭‬ H
● ‭ igh Throughput:‬‭Handles large volumes of transactions efficiently.‬
‭●‬ ‭Reliability:‬‭Ensures accuracy and consistency of transactions.‬
‭●‬ ‭Real-Time Processing:‬‭Provides immediate processing of transactions.‬

‭Examples:‬

‭‬ B
● ‭ anking Systems:‬‭Process deposits, withdrawals, and transfers.‬
‭●‬ ‭Retail Systems:‬‭Handle sales transactions, inventory updates.‬
‭33. What is Data Mart and Its Types‬
‭ efinition:‬‭A data mart is a subset of a data warehouse, focused on a specific business‬
D
‭line or team. It contains summarized and focused data relevant to a particular area.‬

‭Types:‬

‭1.‬ D ‭ ependent Data Mart:‬‭Created from an existing data warehouse. It relies on the‬
‭central data warehouse for its data.‬
‭2.‬ ‭Independent Data Mart:‬‭Standalone system, not dependent on a data‬
‭warehouse. Collects data directly from various sources.‬
‭3.‬ ‭Hybrid Data Mart:‬‭Combines data from both data warehouses and other‬
‭sources. It integrates data to serve specific business needs.‬

‭ xample:‬‭A retail company might have separate data marts for sales, inventory, and‬
E
‭customer service, each providing insights specific to those areas.‬

‭34. What are the Different Types of Warehouses‬

‭1. Data Warehouse:‬

‭●‬ D ‭ efinition:‬‭A centralized repository for storing large volumes of structured data‬
‭from multiple sources. It supports business intelligence activities like querying‬
‭and reporting.‬
‭●‬ ‭Example:‬‭Amazon Redshift, Google BigQuery.‬

‭2. Operational Data Store (ODS):‬

‭●‬ D ‭ efinition:‬‭A database designed to integrate data from multiple sources for‬
‭additional operations on the data. It's used for operational reporting and not for‬
‭complex analytics.‬
‭●‬ ‭Example:‬‭Real-time reporting systems.‬

‭3. Enterprise Data Warehouse (EDW):‬

‭●‬ D ‭ efinition:‬‭A large-scale data warehouse that aggregates data from across the‬
‭entire organization, providing a unified view.‬
‭●‬ ‭Example:‬‭IBM Db2 Warehouse.‬

‭4. Data Mart:‬

‭●‬ D ‭ efinition:‬‭A subset of a data warehouse focused on a specific business area or‬
‭team, such as sales or finance.‬
‭●‬ ‭Example:‬‭Sales data mart, marketing data mart.‬
‭5. Cloud Data Warehouse:‬

‭●‬ D ‭ efinition:‬‭A data warehouse that is hosted in the cloud, providing scalability‬
‭and flexibility with reduced infrastructure costs.‬
‭●‬ ‭Example:‬‭Snowflake, Microsoft Azure Synapse.‬

‭6. Real-Time Data Warehouse:‬

‭●‬ D ‭ efinition:‬‭A data warehouse designed to handle real-time data feeds, providing‬
‭immediate data availability for reporting and analytics.‬
‭●‬ ‭Example:‬‭Streaming data warehouses like Amazon Kinesis.‬

‭35. Components of Business Intelligence‬

‭1. Data Sources:‬

‭●‬ D ‭ efinition:‬‭The origins of data that feed into the BI system. These can include‬
‭databases, spreadsheets, web services, and more.‬
‭●‬ ‭Example:‬‭SQL databases, CRM systems.‬

‭2. Data Integration:‬

‭●‬ D ‭ efinition:‬‭The process of combining data from different sources into a single,‬
‭unified view. Often involves ETL (Extract, Transform, Load) processes.‬
‭●‬ ‭Example:‬‭ETL tools like Informatica, Talend.‬

‭3. Data Storage:‬

‭●‬ D ‭ efinition:‬‭The repositories where integrated data is stored. This includes data‬
‭warehouses and data marts.‬
‭●‬ ‭Example:‬‭Amazon Redshift, Google BigQuery.‬

‭4. Data Analysis:‬

‭●‬ D ‭ efinition:‬‭The examination of data to discover useful information, draw‬

‭conclusions, and support decision-making.‬
‭●‬ ‭Example:‬‭Data mining, statistical analysis.‬

‭5. Data Presentation:‬

‭●‬ D ‭ efinition:‬‭The methods used to visualize and report the analyzed data. This‬
‭includes dashboards, reports, and visualizations.‬
‭●‬ ‭Example:‬‭Tableau, Power BI.‬
‭6. User Interface:‬

‭●‬ D ‭ efinition:‬‭The front-end layer where users interact with the BI tools to query‬
‭data, generate reports, and create visualizations.‬
‭●‬ ‭Example:‬‭BI dashboards.‬

‭36. How is Data Stored in a Data Warehouse‬

‭Data Storage in a Data Warehouse:‬

‭●‬ 1 ‭ . Staging Area:‬‭Data from various sources is extracted and loaded into a‬
‭staging area where it is cleaned and transformed.‬
‭●‬ ‭2. Data Integration Layer:‬‭After cleansing, data is integrated and transformed‬
‭into a common format suitable for analysis.‬
‭●‬ ‭3. Data Storage Layer:‬‭Transformed data is stored in the warehouse in a‬
‭structured format, typically organized into fact and dimension tables.‬
‭●‬ ‭4. Metadata Layer:‬‭Metadata provides information about the data stored,‬
‭including structure, origin, and transformations applied.‬
‭●‬ ‭5. Access Layer:‬‭This layer provides tools and interfaces for querying, reporting,‬
‭and analyzing the data.‬

‭ xample:‬‭A retail data warehouse might store sales data in fact tables and customer‬
E
‭and product information in dimension tables. This structure supports complex queries‬
‭and reporting.‬

‭37. Difference Between UI and UX‬

‭User Interface (UI):‬

‭●‬ D ‭ efinition:‬‭The visual elements through which a user interacts with a product or‬
‭service. It includes buttons, icons, layout, and design.‬
‭●‬ ‭Focus:‬‭Aesthetics and functionality.‬
‭●‬ ‭Example:‬‭The design of a website’s home page, including its color scheme,‬
‭typography, and navigation menus.‬

‭User Experience (UX):‬

‭●‬ D ‭ efinition:‬‭The overall experience a user has with a product or service,‬

‭encompassing usability, functionality, and satisfaction.‬
‭●‬ ‭Focus:‬‭User satisfaction and ease of use.‬
‭●‬ ‭Example:‬‭How easy and pleasant it is for a user to navigate and complete tasks‬
‭on a website.‬
‭Key Differences:‬

‭‬ S
● ‭ cope:‬‭UI is about the look and feel; UX is about the overall experience.‬
‭●‬ ‭Focus:‬‭UI focuses on design elements; UX focuses on user interaction and‬
‭satisfaction.‬
‭●‬ ‭Outcome:‬‭UI aims to create a visually appealing interface; UX aims to create a‬
‭seamless, intuitive experience.‬

‭38. What is SQL Server Analysis Service (SSAS)‬

‭ efinition:‬‭SQL Server Analysis Services (SSAS) is a Microsoft server platform that‬
D
‭provides tools for building online analytical processing (OLAP) and data mining‬
‭solutions.‬

‭Components:‬

‭●‬ O ‭ LAP:‬‭Allows for the creation of multidimensional databases that support‬

‭complex queries and data analysis.‬
‭●‬ ‭Data Mining:‬‭Provides tools for discovering patterns and relationships in large‬
‭datasets.‬

‭Use Cases:‬

‭●‬ B ‭ usiness Intelligence:‬‭SSAS supports complex BI applications by providing fast‬

‭query responses and advanced analytics capabilities.‬
‭●‬ ‭Data Analysis:‬‭Helps organizations analyze large volumes of data to make‬
‭informed decisions.‬

‭39. What is KPI‬

‭ efinition:‬‭A Key Performance Indicator (KPI) is a measurable value that demonstrates‬
D
‭how effectively an organization is achieving key business objectives.‬

‭Characteristics of KPIs:‬

‭‬
● ‭ pecific:‬‭Clearly defined and focused on a particular area of performance.‬
S
‭●‬ ‭Measurable:‬‭Quantifiable, allowing for objective assessment.‬
‭●‬ ‭Achievable:‬‭Realistic and attainable goals.‬
‭●‬ ‭Relevant:‬‭Aligned with the overall business objectives.‬
‭●‬ ‭Time-Bound:‬‭Has a specific time frame for achievement.‬

‭Examples:‬

‭●‬ ‭Sales KPI:‬‭Monthly sales growth.‬

 ‭‬ C
● ‭ ustomer Service KPI:‬‭Customer satisfaction score.‬
‭●‬ ‭Financial KPI:‬‭Net profit margin.‬

‭40. What is BPM (Business Performance Management)‬

‭ efinition:‬‭Business Performance Management (BPM) is a set of management and‬
D
‭analytic processes that enable the management of an organization's performance to‬
‭achieve one or more pre-selected goals.‬

‭Components:‬

‭‬ P
● ‭ lanning and Budgeting:‬‭Setting financial and operational goals.‬
‭●‬ ‭Consolidation and Reporting:‬‭Aggregating and reporting financial and‬
‭operational data.‬
‭●‬ ‭Modeling:‬‭Predictive modeling to simulate various scenarios.‬
‭●‬ ‭Monitoring and Analysis:‬‭Tracking performance metrics and analyzing data to‬
‭provide insights.‬

‭Importance:‬

‭●‬ S ‭ trategic Alignment:‬‭Ensures that all parts of the organization are aligned with‬
‭the strategic objectives.‬
‭●‬ ‭Improved Decision-Making:‬‭Provides data-driven insights for better‬
‭decision-making.‬
‭●‬ ‭Efficiency:‬‭Streamlines processes and improves efficiency.‬
‭●‬ ‭Accountability:‬‭Tracks performance and holds individuals accountable for their‬
‭results.‬

‭41. What is Business Analytics and Its Components‬

‭ efinition:‬‭Business analytics refers to the skills, technologies, practices for continuous‬
D
‭iterative exploration, and investigation of past business performance to gain insight and‬
‭drive business planning.‬

‭Components:‬

‭1.‬ D ‭ escriptive Analytics:‬‭Analyzes historical data to understand what has‬

‭happened. Tools include reports, dashboards, and data visualization.‬
‭2.‬ ‭Diagnostic Analytics:‬‭Examines data to determine why something happened. It‬
‭involves data discovery, drill-down, and correlations.‬
‭3.‬ ‭Predictive Analytics:‬‭Uses statistical models and machine learning techniques‬
‭to predict future outcomes. Examples include forecasting and risk assessment.‬
 ‭4.‬ P
‭ rescriptive Analytics:‬‭Suggests actions to affect desired outcomes. It involves‬
‭optimization and simulation algorithms.‬

‭Working Principle with Diagram:‬

‭‬
● ‭ ata Collection:‬‭Gathering data from various sources.‬
D
‭●‬ ‭Data Cleaning:‬‭Removing errors and inconsistencies from data.‬
‭●‬ ‭Data Integration:‬‭Combining data from different sources.‬
‭●‬ ‭Data Analysis:‬‭Applying statistical and analytical methods.‬
‭●‬ ‭Data Visualization:‬‭Presenting the data in a visual context to make insights‬
‭clear.‬
‭ ‬ ‭Decision Making:‬‭Using the insights to make informed business decisions.‬
●

‭Diagram:‬

‭ ata Sources -> Data Collection -> Data Cleaning -> Data Integration -> Data‬
D
‭Analysis -> Data Visualization -> Decision Making‬