Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
ACCTG 6910 Building Enterprise & Business Intelligence Systems (e.bis) From Information Management to Knowledge Management Olivia R. Liu Sheng, Ph.D. Emma Eccles Jones Presidential Chair of Business 1 Business Intelligence • We are drowning in data, but starving for knowledge • Business intelligence (BI) is knowledge extracted from data to support better business decision making. 2 Data, Information, Knowledge • Data is a set of discrete, objective facts about events. E.g., Tony’s academic record: – Fall 2001: 3 A’s – Spring 2002: 3 A’s, 2 B’s and 1 C – Fall 2002: 3 A’s and 4 C’s • Information is meaningful data. E.g., how is Tony doing academically? • Knowledge is hidden patterns extracted from data. E.g., how to improve Tony’s or any one’s academic performance? 3 Data, Information, Knowledge Online bookstore Example: July’s revenue is $2 million Information July’s sale is bad. Knowledge Suggest marketing strategy to boost sales Data 4 Information Age : What is lacking here • The Reason: Operational vs. Strategic Use of Data – Operational Use of Data: • The goal is to automate the business processes. • Major concern is speed and efficiency in transaction processing – Strategic Use of Data: • The goal is to collect, acquire, and use the knowledge extracted from data • Major concern is flexibility and responsiveness in decision support 5 Building BI Systems • Data Warehouse: To organize, store and publish integrated decision support data • Data mining: Techniques to extract hidden patterns from data. 6 What’s the Excitement About Data Warehouse Technology? The top three most important technologies ranked by IT managers in 2000-2001 (Recent surveys by The Data Warehousing Institute and Deloitte Research, http::/www.sas.com/news/feature/21aug01/ dwdemand.html/) 1. Internet 2. Data warehousing 3. E-commernce 7 What’s the Excitement about Data Mining Technology? 10 emerging technologies that will change the world (MIT’s Magazine of Innovation, 2001 Annual Innovation Issue) • Brain-machine interfaces • Flexible transistors • Data mining • Digital rights management • Biometrics • Natural language processing • Microphotonics • Untangling code • Robot design • Microfluidics 8 Many Applications • • • • • • • • • • • • • Target Marketing Credit Scoring Sales Forecasting Promotion Analysis Distribution Channel Analysis Customer Profiling Customer Profitability Analysis Cross Sell/Up Sell Help Desk Problem Resolution Customer Service Automation Network Forecasting Tariff Modeling E-government • • • • • • • • • • • • Fraud detection Security Management Product/Product Line Profitability Merchandise Planning Resource Management Operations Management Capacity Management Store/Branch Performance Analysis Store/Branch Site Selection Diagnosis decision support Gene and protein analysis Homeland Security 9 Course Objectives • • • • • Basic concepts and techniques GUI tools-oriented implementation Real world oriented learning A few managerial issues Promoting data warehouse and data mining career interests and opportunities 10 The Course IS Not • A general ebusiness technology course • A technical Java and web programming course • A purely managerial course IS • A course specifically on business intelligence technologies for ebusiness • A hands-on course with DB and data mining implementations using tools • A course emphasizing on business and data analysis and good project management practices 11