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Lecture 1

This document provides information about the CST3340 Business Intelligence module. It introduces the module leader, Joanna Loveday, and provides her contact information. It outlines the module aims, which are to develop an understanding of techniques for capturing, storing, and analyzing organizational data for business intelligence purposes. The module content will explore how large-scale data can be used to enhance managerial decision-making. The assessment scheme includes two individual courseworks, one on designing a data strategy and one on data analysis of a chosen dataset. The first lecture will introduce business intelligence and analytics, covering descriptive, predictive, and prescriptive analytics and examples in retail. Reading from the course textbook is also assigned.

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126 views

Lecture 1

This document provides information about the CST3340 Business Intelligence module. It introduces the module leader, Joanna Loveday, and provides her contact information. It outlines the module aims, which are to develop an understanding of techniques for capturing, storing, and analyzing organizational data for business intelligence purposes. The module content will explore how large-scale data can be used to enhance managerial decision-making. The assessment scheme includes two individual courseworks, one on designing a data strategy and one on data analysis of a chosen dataset. The first lecture will introduce business intelligence and analytics, covering descriptive, predictive, and prescriptive analytics and examples in retail. Reading from the course textbook is also assigned.

Uploaded by

chan chanchan
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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CST3340

Business Intelligence

Joanna Loveday

CST3340 _ Business Intelligence


Module Leader
• Joanna Loveday
• Email: [email protected]
• Telephone number: 02084116613

• Office Hours: Thursday 1pm to 3pm:


– Link: will be provided by you

CST3340 _ Business Intelligence


Module Aims
This module aims to develop:
• An understanding of the techniques and
approaches used to capture, store and
analyse data generated by organisations
for purposes of business intelligence.
• In a digital age it is important for
businesses to make use of data captured
about its their entities.

CST3340 _ Business Intelligence


Module Aims Cont.
This module aims to develop:
• You will learn about information retrieval,
data presentation, pattern recognition
techniques and data models that can be
used in business intelligence applications.
• Descriptive data models can be used to gain
a better understanding of overall organisation
• Predictive data models inform the decision
making in all aspects of the business.
CST3340 _ Business Intelligence
Module Content
• The module provides students with:
– An opportunity to explore, review and examine
how large scale data can be collected, stored and
managed in industry to enhance the decision
making power of managers.
– Sufficient understanding of the current theory of
decision making and its applications that address
modern and future business needs using business
intelligence.

CST3340 _ Business Intelligence


Assessment Scheme

Assessment Type Task Method of submission Submission week % of the module


overall grade
Coursework 1 Individual Design of data strategy for a chosen Electronic draft presented during lab Formative Feedback: Week 8 40%
organisational case study. session
Submission: Week 10
Online submission through Unihub

Coursework 1   Summative Feedback Online via Unihub Week 13  

Coursework 2 Individual Data analysis including data mining of Electronic draft presented during lab Formative Feedback: Week 23
student chosen data set. session
Report Submission: Week 24
Online submission through Unihub
Oral presentation: Week 24/25
 In allocated time slot

Coursework 2   Summative Feedback Online via Unihub June 2020  

          100%

CST3340 _ Business Intelligence


Lecture 1
Introduction to Business
Intelligence

Slides adapted from Sharda, Delen, Turban (2018),


Business Intelligence Analytics
and Data Science: A management Perspective, Pearson
CST3340 _ Business Intelligence
Learning Objectives

– What is Business Intelligence

– The need for Business Intelligence

– Business Intelligence evolution

– Business Analytics
CST3340 _ Business Intelligence
What is Business Intelligence
• DSS  EIS  BI

• Definition of Business Intelligence


– An umbrella term that combines architectures, tools,
databases, analytical tools, applications, and
methodologies
– Descriptive analytics tools and techniques (i.e., reporting
tools)

CST3340 _ Business Intelligence


Changing Business Environments and
Evolving Needs for Decision Support and
Analytics
• Increased hardware, software, and network
capabilities.
• Group communication and collaboration.
• Improved data management.
• Managing giant data warehouses and Big Data.

CST3340 _ Business Intelligence


Changing Business Environments and
Evolving Needs for Decision Support and
Analytics Cont.

• Analytical support
• Overcoming cognitive limits in processing and
storing information
• Knowledge management
• Anywhere, anytime support

CST3340 _ Business Intelligence


Evolution of Business Intelligence

CST3340 _ Business Intelligence Source: Sharda, Delen, Turban (2018).


The Architecture of BI

CST3340 _ Business Intelligence Source: Sharda, Delen, Turban (2018).


Analytics Overview
• Analytics…a relatively new term/buzz-word
• Analytics…the process of developing actionable
decisions or recommendations for actions based on
insights generated from historical data
• According to the Institute for Operations Research
and Management Science (INFORMS)
– Analytics represents the combination of computer
technology, management science techniques, and
statistics to solve real problems.

CST3340 _ Business Intelligence


Business Analytics
•
Three types of Business Analytics:
•

– Descriptive:
• What happened;
• What is happening;

– Predictive:
• What will happen;
• Why will it happen;

– Prescriptive;
• What should I do;
• Why should I do it;

CST3340 _ Business Intelligence


Descriptive Analytics
• Descriptive or reporting analytics
• Answering the question of what happened
• Retrospective analysis of historic data
• Enablers
– OLAP / DW
– Data visualization
• Dashboards and Scorecards
– Descriptive statistics
• Leads to well defined business problems and opportunities.

CST3340 _ Business Intelligence


Predictive Analytics
• Aims to determine what is likely to happen in the
future (foreseeing the future events)
• Looking at the past data to predict the future
• Enablers
– Data mining
– Text mining / Web mining
– Forecasting (i.e., time series)
• Leads to accurate projections of future events and
outcomes

CST3340 _ Business Intelligence


Prescriptive Analytics

• Aims to determine the best possible decision


• Uses both descriptive and predictive to create the
alternatives, and then determines the best one
• Enablers
– Optimization
– Simulation
– Multi-Criteria Decision Modeling
– Heuristic Programming
• Analytics Applied to Many Domains
• Analytics or Data Science?
• Leads to best possible business decisions and actions.

CST3340 _ Business Intelligence


Analytics Examples:
Analytics in Retail Value Chain

CST3340 _ Business Intelligence Source: Sharda, Delen, Turban (2018).


Analytics Examples in Retail Value Chain

• For the complete table, refer to course textbook


CST3340 _ Business Intelligence Source: Sharda, Delen, Turban (2018).
Reading
•
Chapter 1 from:
•
 
•
Sharda, Delen, Turban (2018), Business Intelligence
Analytics and Data Science: A management
Perspective. Pearson.

CST3340 _ Business Intelligence

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