DSC340 Mike Pangburn Organizations are drowning in data but lacking in information knowledge Our ability to collect and store data seems to have surpassed our ability to make sense of it ID: 155754
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Slide1
Data and BI / Analytics
DSC340
Mike
PangburnSlide2
Organizations are drowning
in
data…
… but lacking in information / knowledgeOur ability to collect and store data seems to have surpassed our ability to make sense of it!Important trends:Storage capacity continues to rise rapidlyCost of storage continues to drop
Web Click Streams
Purchase Data
ERP Transactions
Customer Profiles
Credit Histories
Activity Records
Location Tracking (GPS)Slide3
What is Business Intelligence?
A Simple Definition:
The applications and technologies transforming Business Data into Action
Fact-based decision making typically involves a subset of the following skills/tools…Data querying / SQL Database design / data warehousingData mining Decision support systems / simulationsData visualization / DashboardsSlide4
The BI goal
BI is about using data to help
enterprise users
make better
business decisionsSlide5
BI / analytics in all industries
A few examples
Pro SportsOakland A’s, New England Patriots – recruiting playersDallas Cowboys – merchandising
GamblingHarrah’s Caesar’sQuote from Intel manager:“In God we trust, all others bring data”DemmingSlide6
Managers value analytics (survey)Slide7
Media / Energy
Aero / Industrial
Insurance / Health
Life Sciences
Other
Communications
Automotive
Finance / Banking
Consumer Goods
High Tech
A sample of
Oracle BI
CustomersSlide8
Probability / Frequency of Occurrence
Low (1)
Very High (5)
Low (1)
Severity
Very High (5)
BI
1. Commodity
Price Increase (10%)
1. Collaboration
& BI (10%)
1. Power Shift (8%)
1. Global
Competition (10%)
1. SC
Fragmentation (31%)
1. Lack of Global
Project
Resources (12%)
1. Regulatory
Compliance (7%)
1. Developing
SCM Talent (7%)
Exec survey: What Keeps You Up at Night?
1. IT Integration (5%)
1. IP (2%)Slide9
Data / information / knowledge
Data
– a collection of raw value elements or facts used for calculating, reasoning, or measuring.
Information – the result of collecting and organizing data in a way that establishes relationship between data items, which thereby provides context and meaningKnowledge – the concept of understanding information based on recognized patterns in a way that provides insight to information.Slide10
Famous “Beer and Diapers” BI exampleConsider the follow convenience-store transactional data (register sales receipts)Slide11
Famous “Beer and Diapers” BI example
What did managers learn? That beer & diapers are often bought by men on Thursday and Saturdays. Why?
Data
Information Knowledge (Insight)Slide12
Goal: Convert Data to (Actionable) Knowledge
Data
Info
Knowledge
Increasing
Value
Hard to
do in
practice – requires commitment/effort.Slide13
Consider the 4 posted analytics articlesCompany examples:
Target
Harrah’sMatch.comDallas CowboysWhat do these companies have in common?
What does this mean to your career?Slide14
Compare these examples
Company
Where is their data coming from?
How is it changing what they do?Dallas CowboysMatch.comTargetHarrah’s