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The importance of increasing storage capacity and the growth of business intelligence systems. In 2002, data was 403 petabytes, growing to 2.5 exabytes in 2007. This data contains valuable business intelligence with patterns, relationships, and trends. Business intelligence systems (bis) use tools like reporting, data mining, and knowledge management to provide insights. Reporting tools create structured reports for past and current assessments. Data mining tools find patterns and make predictions. Knowledge management tools store and share human knowledge. Companies need bis to extract valuable information from databases. This document also covers rfm analysis, a technique to rank customers based on purchasing patterns, and rfm reports that compare data over time.
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In 2002 there was 403 petabytes, in 2007 storage capacity grew to 2.5 exabytes. (which is equivalent to half the total # of words ever spoken by humans, or125 times the data in all U.S. research libraries) TERM 2
DEFINITION 2 somewhere in all that data is business intelligence- information containing patterns, relationships and trends. TERM 3
DEFINITION 3 (BI system)- is an infomation systems that employs business intelligence tools to produce and deliver information. *An information system having all 5 components that delivers the results of a BI application to user who need those results. TERM 4
DEFINITION 4 (BI tool) One or more computer programs that implement a particular BI technique. *Implement a particular procedure or process. *BI tools are categorized in 3 ways -Reporitng tools - Data miningtools -Knowledge management tools TERM 5
DEFINITION 5 Programs that read data from a variety of sources, process that data, and format it into structured reports, and deliver those reports to user who need them. *Used primarily for assessment *Address questions like, what happened in the past what is happening in the current, how do they compare? *use simple operations like sorting, grouping, calculating, filtering and formatting.
process data using statistical techniques, many are sophisticated and mathematically complex. *Involves searching 4 patterns and realtionships among data. *Used to make predictions, (probability, products that tend to be purchased together *sophisticated, complex techniques TERM 7
DEFINITION 7 Used to store employee knowledge, and to make that knowledge available to others who need it. (auditors, customers, vendors etc.) *The source of knowledge management tools data is human knowledge TERM 8
DEFINITION 8 Is to get out the information that is stored in databases. TERM 9
DEFINITION 9 use of a tool on a particular type of data for a particular purpose. TERM 10
DEFINITION 10 *Tool-implement the logic of a particular procedure or process. *Application-use of a tool on a particular type of data for a particular purpose. *System- information system having all 5 components that delivers the results of a BI applications to users who need them.