Business intelligence BI is a technology-centric approach aimed at examining data and furnishing valuable insights to executives, supervisors, and staff to support them in enhancing thei
Business Intelligence (P3)
General about BI
In simpler terms, business intelligence (BI) is a technology that helps organizations learn from the past to make better decisions, improve actions, and even predict the future BI encompasses skills, methods, technology, or applications that assist in decision-making It's a set of tools and processes that blend business analytics, data mining, data visualization, data tools, infrastructure, and methods to enable organizations to make decisions based on data.
Step Business Intelligence systems are implemented
Step 1: Initial data is extracted from the company's database, which may be spread across various diverse systems. Step 2: The data undergoes a cleaning process and is then moved into the data warehouse Tables are linked, and data segments are constructed.
Step 3: Users have the ability to employ the BI system for various purposes, including asking questions, requesting customized reports, or conducting different forms of analysis.
1.1.2 Real examples of how to apply BI on business
Thanks to its highly effective loyalty card program and mobile application, Starbucks has access to detailed transaction data from millions of customers Utilizing this data alongside business intelligence tools, the company predicts customer purchases and sends tailored offers through their app and email This strategy encourages repeat visits from existing customers, ultimately leading to a boost in revenue.
Coca-Cola leverages its vast social media presence, boasting 35 million Twitter followers and 105 million Facebook fans Employing AI-driven image recognition technology, the company can identify instances where images of its beverages are shared on the internet By harnessing the potential of business intelligence (BI), Coca- Cola gains insights into their customer demographics, geographical distribution, and the reasons behind online brand mentions This valuable information is then utilized to deliver highly personalized advertising to customers, resulting in a fourfold increase in the likelihood of click-through compared to generic advertisements.
Netflix boasts a remarkable business intelligence (BI) advantage due to its extensive user base By leveraging data from its 148 million users, Netflix proficiently develops and evaluates new programming, utilizing insights derived from previously aired content Moreover, Netflix actively engages its users through tailored content recommendations, a feature driven by its sophisticated algorithm, which contributes significantly to the high percentage of content streamed.
BI techniques
Numerous business intelligence techniques are at a company's disposal to obtain valuable insights for informed decision-making Let's explore some of the most prevalent BI techniques.
OLAP (Online Analytical Processing) stands as a widely used business intelligence method, particularly effective for tackling multi-dimensional analytical challenges A key advantage of OLAP is its multi-dimensional framework, enabling users to examine data issues from multiple perspectives This capability often leads to the discovery of concealed issues within processes OLAP finds application in various tasks, including budgeting, CRM data analysis, and financial forecasting.
The complete sequence of activities encompassing planning, scheduling, performance tracking, sales analysis, reconciliation, and data storage is collectively termed as reporting in the realm of business intelligence This process serves as a valuable tool for organizations to systematically collect and present data, aiding in managerial activities, planning, and decision-making Depending on their needs, business leaders may access reports on a daily, weekly, or monthly basis.
In the realm of Business Intelligence, the term "analytics" refers to the practice of examining data to make informed decisions and uncover patterns Business analysts and executives rely on analytics as it enables them to gain deeper insights from their data and extract valuable insights Analytics find application in various facets of business, ranging from marketing to call centers, and they take on diverse forms For instance, in call centers, voice analytics is employed to monitor customer sentiment and enhance the quality of responses provided.
Extraction-Transformation-Loading (ETL) is a unique business intelligence technique that manages the entire data processing workflow It retrieves data from various sources, performs necessary transformations, and then feeds it into the business intelligence system ETL tools are primarily employed as transactional tools for converting data from diverse sources into data warehouses ETL also plays a role in modifying the data to align with the specific requirements of the company In this way, it enhances the data's quality before placing it into its final destinations, such as databases or data warehouses.
BI tools
Tableau is a data visualization tool that empowers data analysts, scientists, statisticians, and various professionals to visually represent data and draw meaningful insights from it Tableau is renowned for its rapid data processing capabilities, delivering desired visualizations efficiently Importantly, it maintains a high level of security, assuring users that any security concerns identified will be promptly addressed Users can utilize Tableau to prepare, cleanse,and format their data before creating data visualizations that can be shared with other Tableau users This versatile data visualization software can serve the needs of individual data analysts as well as entire business teams and organizations.
Sisense is a data visualization solution rooted in business intelligence, offering an array of tools to assist data analysts in simplifying intricate data and extracting insights for their organizations and external stakeholders Sisense envisions a future where every business is data-centric, and every product has some connection to data Consequently, it endeavors to furnish business teams and data analysts with a diverse set of data analytics tools to aid in the transformation of their organizations into data-driven entities, aligning with this data-centric future.
Sisense offers a remarkably straightforward installation and user experience Setting it up takes less than a minute,allowing data analysts to swiftly dive into their work and observe results Users have the flexibility to export their files into a range of formats, including PowerPoint, Excel, MS Word, PDF, and more, through Sisense Moreover,
SAP Analytics Cloud is a powerful platform that integrates business intelligence and data analytics to aid in the evaluation and visualization of data, enabling you to predict business outcomes effectively It provides access to cutting-edge modeling tools that can identify potential data errors and categorize various data metrics and dimensions.
Additionally, SAP Analytics Cloud offers Data Smart Transformations, enhancing the quality of visualizations
What sets it apart is its ability to address your questions and concerns regarding data visualization using conversational artificial intelligence and natural language technologies, ensuring that you are completely satisfied with the platform's capabilities.
QlikView and Qlik Sense are two widely acclaimed business intelligence tools QlikView is recognized as a guided tool, while Qlik Sense is known as a self-service business intelligence system These sophisticated applications offer users the flexibility to analyze data at various stages, from input to processing to output.
Notably, QlikView boasts a system memory feature that logs all actions performed during the analysis It is known for its high level of sophistication and exceptional overall performance Furthermore, mobile users have access to the same interactive analytical tools, intuitive associative search capabilities, and impressive visualizations that PC users enjoy, making it a versatile and accessible BI system.
MicroStrategy Analytics is a United States-based data analytics company that offers a versatile platform for those seeking a customized interface This platform is particularly well-suited for organizations and individuals who are new to BI systems, as MicroStrategy is renowned for its exceptional customized customer support.
On this platform, users can craft personalized dashboards and leverage advanced analytics tools to derive valuable insights from data, making it a powerful resource for data-driven decision-making.
Demonstration about BI (P4)
Introduce and Explain chosen dataset(s)
The COVID-19 pandemic is a global health crisis caused by SARS-CoV-2, leading to severe acute respiratory illness Originating in Wuhan, China, in December 2019, it was declared a pandemic by the World Health Organization on March 11, 2020 By this date, over 126,000 cases had been confirmed in 110+ countries, with major outbreaks in China, Italy, South Korea, and Iran The pandemic has resulted in over 4,600 deaths and 67,000 recoveries.
COVID-19 remains a prominent and urgent global issue, with the entire world grappling with the profound and multifaceted impacts of the disease Governments are continually formulating strategies to mitigate the various effects it has brought about Furthermore, numerous vaccines have been developed and made available to combat the virus.
As time has passed, new variants of the virus have emerged, leading to a surge in COVID-19 cases and, unfortunately, an increase in COVID-19-related deaths The dataset in question provides regularly updated COVID-19 data for every country worldwide, offering critical information for monitoring and responding to the ongoing pandemic.
Total Tests: Number of people who have tested for COVID-19
Serious: Number of cases with severe disease progression
On a global scale, this dataset depicts the cases of Coronavirus (COVID-19) The information in the dataset will be updated in accordance with World Health Organization announcements.
The cumulative information is represented in each column of the dataset:
Total Cases: The total number of infections has been updated
New Cases: The number of new COVID-19 cases has been updated
Total Deaths: The total number of deaths caused by COVID-19 infection has been updated New Deaths: The number of people who have died as a result of COVID-19 infection. Total Recovered: The total number of patients who have been rehabilitated.
Active Cases: The total number of infected cases that are currently active.
Serious, Critical: The number of cases in which the disease is progressing rapidly.
Total Cases/1M Pop: The total number of cases per million people.
Deaths per million people: the total number of people who have died in a million people. Total Tests: The total number of people who have tested positive for COVID-19.
Tests/1M Pop: The total number of people who have tested positive for COVID-19 on a million people.
Pro-process steps on dataset(s) with Python
The pre-process steps on the dataset are implemented using Python and Jupyter Notebook Initialize and import Libraries to Jupyter Notebook:
Figure 21 Joint plot of the dataset g p
Figure 22 Pair plot of Total Cases, Total Deaths and New Deaths
Figure 23 Top 10 countries with highest total cases
Figure 24 Top 10 countries with highest total deaths
Design dashboard with PowerBI
I will be using Power BI to process data about COVID-19
The dashboard above was created to visualize the global Covid-19 dataset This dashboard was created with the goal of displaying all of the dataset's key performance indicators in a comprehensive manner It makes the dataset more visually appealing and easier to comprehend or browse through The dashboard displays data in real time, with statistics that are focused and standardized The dashboard is also designed to be interactive and accessible so that data analysts can work with it easily.
Stacked bar chart: provide total and active cases of all countries, sorted descending.
Area chart: shows the comparison of the 4 values: total number of deaths, number of recovered and current number of COVID-19 cases in all countries.
Donut chart: shows the total number of cases by specific country around the world.
Map and country selection box: shows all countries of the world (available in the list in dataset)
This chart shows a comparison of the total number of COVID-19 cases and the current number of COVID- 19 cases
This chart shows the total number of cases by specific country around the world
This graph shows the change over time of the values: total number of deaths, number of recovered and current number of COVID-19 case
2.3.4Map and Country selection board
This map shows the countries of the world (available in the list in dataset) We can see the details of 1 country or more according to the selection in the Country selection board.
Figure 29 Map and Country selection board
3.1 Showing specific examples on your organizations/companies
Businesses have the capability to employ business intelligence for the purpose of extracting vital insights from extensive unstructured data This transformation of data into actionable information not only enhances their capacity for making improved strategic choices but also boosts operational effectiveness and productivity This valuable data unveils the hidden aspects of customer behavior, encompassing their likes, dislikes, online shopping
Business intelligence offers organizations a wealth of data assets, facilitating the attainment of corporate goals and aspirations through well-timed strategic choices The examination of customer engagements spanning voice calls, chat dialogues, emails, and diverse communication channels by BI teams yields insights into elements like customer inclinations, preferences, aversions, technical issues, responses to promotions, and the e-commerce customer journey on a website This analysis has the potential to yield positive outcomes, including increased conversion rates and other favorable outcomes.
Beyond the previously mentioned advantages, companies can also reap the following benefits from employing business intelligence:
The dashboard and difference report should encourage extensive interaction This interaction empowers users to delve into the data, identifying region-specific instances of cases or deaths, isolating cases from specific time frames, facilitating comparisons, and so forth The greater the number of users engaging with these tools, the more vital information can be collected, leading to more informed decision-making.
The accurate presentation of data is of paramount importance as it enhances data comprehension Rather than relying on verbal or written explanations, utilizing a line graph, for instance, can effectively illustrate total cases by country Likewise, a pie chart can be the optimal choice for depicting component-by-component contributions It's essential to emphasize that valuable insights can only be gleaned from data that has been appropriately visualized.
Figure 32 Visualize data using line graph
For effective business intelligence, analysts rely on accessing data from a wide range of databases and online platforms By establishing connections across multiple sources, they ensure the accuracy of their information, allowing them to provide valuable insights that drive company growth and success This access to accurate data enables analysts to make informed recommendations, contributing to a company's advancement and development.
Certain forecasts may be produced using past data and high-end algorithms, such as the number of cases and deaths in the future, predicted when the disease is going to spread badly, expected tests on population, machine failure, and so on This might assist a corporation in being proactive.
3.2 Discuss the legal issues involved in exploiting user data for business intelligence
Business Intelligence technologies that are used for effective decision-making in a company may run into legal issues Because everything is digital, all of the tools used are software As a result, the software should only be used by authorized individuals in order for the analyzed data to be used Because these are essential items that must be kept safe Legal concerns about privacy and security are also present The privacy of the data should be protected, and the security should be adequate to protect the data For this purpose, a variety of tools and strategies are available The tools should be used responsibly and for the benefit of the company, rather than for personal gain.
Customers, particularly those handling substantial amounts of data, prioritize security as their primary concern However, challenges arise not due to the accessibility or sheer volume of data but rather due to factors like incorrect setups, mixed consequences, and potentially harmful actions.
The presence of big data can exacerbate security and protection issues Therefore, legal professionals and IT leaders must place a strong emphasis on data safeguarding, privacy, and confidentiality in how their organizations acquire, manage, and store data.
Confidentiality isn't merely a luxury for businesses; it's a fundamental requirement to prevent common-sense reactions like legal actions and commercial losses Companies should make substantial investments in robust information security measures, recognizing that proactive monitoring for digital threats is an essential aspect of operating in the digital age.
Commercial enterprises and organizations institute measures to safeguard customer privacy, ensuring that sensitive customer data remains secure and is not subject to theft or misuse Concerns regarding consumer privacy have historical roots, dating back to the earliest commercial couriers and bankers, who were compelled to adopt stringent safeguards to maintain their competitive edge by protecting customer privacy.
The regulation of telecommunication companies, with their potential access to extensive customer communication data, played a pivotal role in shaping modern consumer privacy laws as we recognize them today However, the widespread adoption of web and mobile technologies, coupled with the pervasive reach of the Internet, has ushered in new challenges in terms of online consumer privacy.
While the Internet offers consumers the ability to search, share, and post content, it also exposes them to privacy issues such as spam, data tracking, malware, identity theft, and defamation In response to these concerns, most organizations employ security engineering measures to uphold customer privacy This commitment stems from a strong competitive incentive to maintain exclusive access to data and a high priority placed on preserving customer trust.