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Business Intelligence & Analytics Chandler Wilder, Lida Kruchten & Ngo Szeto Overview History What it is Why is it important for companies to use? How do companies use it? The different kinds Specific companies 1865 1st usage of the term “business intelligence” in Richard Devens’ Cyclopaedia of Commercial and Business Anecdotes “... he maintained a complete and perfect train of business intelligence”. 1950’s 1951- 1st commercial computer, Lyons Electronic Office (LEO) 1956- IBM invented the first floppy disk 1958- Hans Peter Luhn, IBM computer scientist, wrote an article about his findings regarding a business intelligence system 1960’s Creation of the 1st database management system, called decision support system (DSS) Supports decision making activities Analyzes raw business data 1970’s and 1980’s Developers started creating software for the DSS 1988- International Conference aimed to streamline the data process Modern phase of BI began immediately after 1990’s and Early 2000’s→ Business Intelligence 1.0 1989- Howard Dresner, Gartner analyst, brought “business intelligence” back into common vernacular BI became very common Vendors started appearing everywhere Rise in use of the internet 2 basic functions of BI Now → Business Intelligence 2.0 2005- BI became a requirement for businesses trying to stay competitive Social media boom let to a huge increase in data BI tools offered through subscription services- SaaS The Cloud What is business intelligence? Umbrella term refers to a variety of software applications used to analyze an organization's raw data A technology-driven process used to analyze data Made up of several related activities data mining, online analytical processing, querying and reporting Improve decision making, cut costs and identify new business opportunities How is BI important to companies? Improve decision making, cut costs and identify new business opportunities Capable of handling large amounts of data Easier for companies to sift unstructured data into more intelligent and meaningful reports that can be used in different ways Examples of Business Intelligence Tool Providers A Look into SAP BI Tools... SAP BusinessObjects Business Intelligence Available on premise Allows you to gain real-time business intelligence from any data Increase user autonomy by exposing data in plain business terms Make information consumption simple, personalized, and dynamic Benefit from a flexible and scalable information infrastructure Ad-hoc reporting and analysis Answer new and evolving business questions with self-service ad-hoc reporting and analysis – on the Web, your desktop, or a mobile device. Multidimensional analysis Perform analysis of multidimensional data sources in an intuitive Web-based environment A Look into SAP Con’t… Functional Capabilities Ad-hoc reporting and analysis Answer new and evolving business questions with self-service ad-hoc reporting and analysis – on the Web, your desktop, or a mobile device. Multidimensional analysis Perform analysis of multidimensional data sources in an intuitive Web-based environment Technical Capabilities SAP HANA as BI system repository and audit database SAP HANA data access Software development kits Multiple servers running on one or more hosts and/or clusters for high performance, load balancing, and availability Single sign-on (SSO) integration with LDAP, Kerberos, eTrust SiteMinder, and Windows AD Universe semantic layer access to over 40 data sources Support for SAP BW 7.x, SAP Business Suite, and SAP S/4HANA A Look into SAP on the Cloud... SAP BusinessObjects Cloud Cloud-based authoring Access, prepare, and blend data directly from your Web browser Hybrid data access Access all your data – SAP and non-SAP, on-premise and in the cloud – with data connectors to SAP Business Warehouse, SAP BusinessObjects universes, SAP HANA, SAP S/4HANA, and non-SAP sources Data visualization and storytelling Data exploration Real-time business intelligence Embedded real-time analytics Built-in social collaboration tools ● cloud BI tools can help you blend data from different sources, create compelling data visualizations, run ad hoc reporting, etc Oracle 2nd largest software maker Founded 39 years ago Over 100,000 employees Worldwide company Revenue in 2016 was over $37 billion Safra Catz, female CEO Specializes in developing database software and technology, cloud engineered systems, and enterprise software products Products Some example products: Oracle Secure Enterprise Search: search for content across multiple locations Oracle Cloud: has platform services that tools for business analytics Oracle Social Engagement and Monitoring System: captures relevant brand conversation from the web to understand commentary on their products Exalytics In-Memory Machine: hardware/ software with an integrated in-memory analytics server Primavera Enterprise: focuses on solutions to support C-level strategic metrics and results Oracle Talent Acquisition Cloud (Taleo): enables companies to easily source, recruit, develop, and retain top talent with data-rich management software What is business analytics? Study of data through statistical and operations analysis Formation of predictive models Application of optimization techniques Communication of results to customers, business partners, and college executives Requires quantitative methods and evidence-based data for business modeling and decision making How is BA important to companies? Make data-driven decisions Conduct data mining (explore data to find new patterns and relationships) Complete statistical analysis and quantitative analysis to explain why certain results occur Test previous decisions using A/B testing and multivariate testing Make use of predictive modeling and predictive analytics to forecast future results Jobs in the BI/BA Category Economist Data Analyst Data Engineer BI Engineer Business Analyst Customer Insight Analyst Statistician BI Developer/Architect A few BI/BA jobs in depth… Data Analyst Translate numbers into plain English *Every business collects data, whether it's sales figures, market research, logistics, or transportation costs Takes data and uses it to help companies make better business decisions. Different fields have data analysts operations analysts, marketing analysts, financial analysts, etc. Annual SalaryNational Average: $60,476 Business Analyst Help businesses implement technology solutions in a cost-effective way by determining the requirements of a project or program, and communicating them clearly to stakeholders, facilitators and partners Determine a project’s requirements by extracting them from business or government policies, as well as from current and future users, through interaction and research Organize a project, set requirement constraints, translate and simplify requirements, etc Annual Salary National Average: $65,973 BI Developer Spends a lot of time researching and planning solutions for existing problems within the company Responsible for building OLAP, or online analytical processing Also work with databases, both relational and multidimensional Annual Salary National Average: $82,126 Oxford, MS Area: $72,985 Business Intelligence Engineer work closely with customers and BI Analysts to turn data into critical information and knowledge that can be used to make sound business decisions provide data that is accurate, congruent and reliable and is easily accessible responsible for the full life cycle; development, implementation, production support performance tuning of the Enterprise Data Warehouse, Data Mart, and Business Intelligence Reporting environments support the integration of those systems with other applications Annual Salary How Companies Use Business Intelligence What is the component of B/I Outline 1. The core components and the process of turning rata data into meaningful information 2. How does B/I work in finance a. Different forms of B/I usage b. B/I tools usage 3. Application of B/I in Banking and Finance 4. Case Study a. Banking and Finance A few core components of a business intelligence deployment in turning raw data into meaningful information: Source data ETL (Extract, Transfer, Load) Data Warehouse B/I starts with data, those come from external source Prepare accurate and consistent data for analysis Contain all the information from business applications and systems. ETL process ends with data being loaded in warehouse OLAP Visualizations Draft a real Dashboard The Online Analytical Processing (OLAP) represents the front end. It allows grouping, aggregating, and sorting the data By using charts and graphs to aid understanding the data becomes more useful and accessible to all users. The dashboard presents reports and visualization for all non-tech users. Also allows users to organize the information How does B/I works in finance Predict Financial Analytics Financial Dashboard / Visualization Assessing Financial Risk Stand. Data Infrastructure Key Financial Performance Indicators Different forms of B/I usage in finance B/I usage can be grouped into the following: 1. Business operation reporting 2. Forecasting 3. Dashboard/ Forum 4. Multidimensional analysis 5. Finding the correlation among the factors http://aberdeenessentials.com/wp-content/uploads/2016/06/iStock_88010939_SMALLe1467127587686.jpg Different B/I usage (cont’) Business operation reporting The most common form of business intelligence tool Includes actuals, and how the actuals stack up against the goals Manifest in the weekly or monthly reports that need to be produced Forecasting To correctly estimate what the future holds Extrapolate from historical data, not just simply guessing. Different B/I usage (cont’d) Dashboard Primary purpose is to convey the information Audience tend to drill down on the data Presentation and ease of use are both important for a dashboard use Multidimensional analysis Which is the “slicing and dicing” of the data Offers good insight into more complex level. Requires a solid data warehousing/ data mart backend Business-savvy analysts also get the important Different B/I usage (cont’d) Finding the correlation Drive very deep into BI/BA Like “how do different factors correlate to one another?” Is there a significant time which can be anticipated? B/I tools - Reports and Analysis ● Color charting is a feature in SuperCROSS, ○ illuminate hidden trends such as correlations ● Data aggregation / Manipulation / Dissemination ● Interpretation and analysis of complex, high volume data B/I tools - Reports and Analysis (cont’d) ● This color charting feature uses color to highlight potential relationships between variables and to help you understand ranges and patterns ● Allows ad-hoc data analysis by using ‘drag & drop’ capability. Tables can be created very easily. ● Allows work with hierarchical classifications, includes direct, acyclic graph hierarchies. ● Most common in non-governmental organizations but used by many statisticians B/I tools - Visualisation & API Dashboard Widgets Formatted reports published ● Visualization gives a bird eye’s view of the business operating information ● Allows you to create a web-like dashboard with structure reports,that have been constructed with SuperSTAR Data Access API B/I tools - Enterprise Data Management ● Makes decisions based on facts, rather than opinions. ● SuperDataHub unifies data management and comprehensively analyzes data in new ways. ● Does not require specialist training for using the program ● Offers: ○ Store, process and analyse ○ Upload in the Cloud ○ Allow the user to access, ○ Perform the ad-hoc queries ○ Export data, produce reports and share online. Application of B/I in Banking and Finance ● Improved Operational Efficiencies ○ Need to be as lean and efficient as possible ○ Reduce ongoing cost, maximizing existing resource and enterprise ● Improved Products and Services ○ Track individual revenue stream to better determine the products ● Improved Marketing ○ Marketer can analyze CRM data based on the criteria ○ Develop new cross-sell and up-sell opportunities ● Improved customer retention ● Developing new investment strategies ○ Investors gain the insight on sentiment and developing trading signals by utilizing new data ● Risk Reduction ○ Track customer transaction histories and reduce the uncertainty, like fraudulent activities. B/I Case Study in Banking and Securities ● STAC lead to expand the size of big-data, by using big compute which allowed for more efficiency and low latency workloads ○ STAC-M3, STAC-A2 ● “Big Data” technology in finance ○ Investment banking ○ Retail banking (commercial bank) ● Problems: ○ Too difficult or expensive to handle using traditional technologies ■ Workload is cumbersome ■ Data scale or complexity ● 3Vs ○ Volume, variety, velocity B/I Case Study in Banking and Securities (cont’d) ● STAC Benchmark ™ Council ○ STAC-M3 (analytics on large historical market data - trading) ○ STAC-A2 (market risk management - workloads across Wall Streets) ● Business drive ○ Legal settlement requires improving transaction oversight and avoiding the recurrence of sanctions ○ SEC’s Regulation SCI ○ Sarbanes-Oxley (SOX) ● Business Strategies ○ Accelerate the response time for analytics ○ Overcome rigidities in data integration ○ Automation of process B/I Case Study in Banking and Securities (cont’d) ● Key Challenges in Big Data Tech ○ Security and entitlements ○ Multi-tenancy ○ Product and vendor maturity ○ Interop limitations ● Conclusion ○ Pros ■ Capability, improve agility, and reduce costs ○ Cons ■ Must overcome specific hurdles https://www.youtube.com/watch?v=1RYKgj-QK4I B/I Case Study (UPS) ● Minimizing the driving time ● Technician sought a system plan, called Orion, to shorten On-Road Integrated Optimization and Navigation. ● Used 1,000 pages of code to analyze 200,000 possibilities for each route ● UPS researched the different routes taken and identified the best ways for deliveries. ● The inefficiency of left turns waste money and time http://compass.ups.com/UPS-driver-avoid-left-turns/ B/I Case Study (UPS) cont’d ● To minimize, if possible, eliminate left turns ● Even though the driver needed to travel a greater distance, it reduced package delivering time. ● Between 2004 and 2012, UPS saved 10 million gallons of gas ○ Carbon emissions, includes carbon monoxide etc. were reduced by 100,000 metric tons ○ Saved 98 million idle minutes / $25 million worth of labor cost ● Reduce cost / increase sales / raise profitability / meet customer demand https://www.youtube.com/watch?v=ZHqgpVsUfhI B/I Case Study (LAPD) ● Examined 13 million crimes over 80 years to predict the crimes. ● By using the mathematical model, the higher probability risk for crime, the more patrol to neighboring regions ● Uses the algorithm to predict the future crime, called “mission map”, 500 sq ft in 12 hours watching. ● Resulted in 12% decrease in property crime, 26% decrease in theft https://www.youtube.com/watch?v=4NA-uUwabb0 Fun facts! Business Intelligence market is predicted to be worth: $20.81 billion by 2018 $26.78 billion by 2020 North America has the largest market of tool and the largest Estimated 2.7 zetabytes of data exist in the world The amount of data collected by businesses doubles every 1.2 years Companies using analytics are 5x more likely to make decisions quicker Sources https://www.betterbuys.com/bi/history-of-business-intelligence/ http://www.pyramidanalytics.com/pages/blog/2016/02/brief-history-business-intelligence.aspx https://www.panorama.com/blog/history-business-intelligence/ http://www.1keydata.com/datawarehousing/business-intelligence-uses.php https://go.christiansteven.com/3-industries-that-use-business-intelligence-to-support-decision-making https://www.glassdoor.com/Salaries/data-analyst-salary-SRCH_KO0,12.htm https://www.betterbuys.com/bi/definitive-guide-bi/ https://spacetimeresearch.com/2014/06/business-intelligence-in-financial-planning-and-management/#.WLH6CjsrKUm http://compass.ups.com/UPS-driver-avoid-left-turns/ http://businessintelligence.com/big-data-case-studies/lapd-fighting-crime-happens/ https://stacresearch.com/sites/default/files/d5root/BigDataCasesSTAC_may2014.pdf Thank you!