FBI Flashcards
(61 cards)
1
Q
What is business reporting?
A
A written document that contains information regarding business matters and its purpose is to support decision making.
data source: data from inside and outside the organization
2
Q
List the main purposes of a business report.
A
- To ensure proper departmental functioning
- To provide information
- To provide results of an analysis
- To persuade others to act
- To create an organizational memory
3
Q
What is the purpose of a business report?
A
To improve managerial decisions
4
Q
What are the typical formats of a business report?
A
- Text
- Tables
- Graphs/Charts
5
Q
What is the flow of data in business reporting?
A
Data acquisition → Information generation → Decision making → Process management
6
Q
What are the key characteristics of any successful report?
A
- Clarity
- Brevity
- Completeness
- Correctness
7
Q
Define informal reports.
A
A single letter or a memo
8
Q
Define formal reports.
A
10-100 pages; cover + summary + text
9
Q
What are metric management reports used for?
A
Help manage business performance through metrics (SLAs for externals; KPIs for internals)
10
Q
What is a dashboard-type report?
A
Graphical presentation of several performance indicators on a single page using dials/gauges
11
Q
What do balanced scorecard-type reports include?
A
- Financial indicators
- Customer indicators
- Business process indicators
- Learning & growth indicators
12
Q
What does BPM stand for?
A
Business Performance Management
13
Q
What is the definition of Business Performance Management (BPM)?
A
A real-time system that alerts managers to potential opportunities, impending problems and threats
14
Q
List the key components of BPM.
A
- Integrated, closed-loop management and analytic processes
- Tools for defining strategic goals
- Methods for monitoring key performance indicators (KPIs)
15
Q
What are the steps in a closed-loop process to optimize business performance?
A
- Strategize
- Plan
- Monitor/analyze
- Act/adjust
16
Q
What are Key Performance Indicators (KPIs)?
A
Metrics that measure performance against a strategic objective
17
Q
Differentiate between outcome KPIs and driver KPIs.
A
- Outcome KPIs: lagging indicators (e.g., revenues)
- Driver KPIs: leading indicators (e.g., sales leads)
18
Q
What is the Balanced Scorecard (BSC)?
A
A performance measurement and management methodology that translates an organization’s objectives into actionable initiatives
19
Q
What is Six Sigma?
A
A performance management methodology aimed at reducing defects in a business process
20
Q
What does DMAIC stand for in the Six Sigma model?
A
- Define
- Measure
- Analyze
- Improve
- Control
21
Q
What is the significance of data visualization?
A
The use of visual representations to explore, make sense of, and communicate data
22
Q
What are the differences between data visualization and information visualization?
A
- Data visualization: raw data representation
- Information visualization: aggregation, summarization, and contextualization of data
23
Q
What are some types of basic charts and graphs?
A
- Line Chart
- Bar Chart
- Pie Chart
- Scatter Plot
- Bubble Chart
24
Q
What is the role of performance dashboards?
A
Provide visual displays of important information consolidated on a single screen
25
What are the best practices in dashboard design?
* Benchmark KPIs with industry standards
* Validate the design by a usability specialist
* Prioritize and rank alerts and exceptions
26
What is the historical significance of the pie chart?
Created by William Playfair in 1801, credited as the first modern chart
27
What was the focus of data visualization in the 1900s?
A more formal attitude toward visualization, focusing on color, value scales, and labeling
28
What is the Magic Quadrant for Business Intelligence and Analytics Platforms?
A report by Gartner that evaluates the positioning of data visualization companies
29
30
What is the role of data warehouses in decision support?
Data warehouses provide a centralized repository of cleansed and integrated data to support decision-making processes.
## Footnote
Data warehouses enable organizations to analyze historical and current data to inform strategic decisions.
31
What does ETL stand for in the context of data warehousing?
Extract, Transform, Load
## Footnote
ETL processes are essential for integrating data from various sources into a data warehouse.
32
Define a Data Warehouse.
A physical repository where relational data are specially organized to provide enterprise-wide, cleansed data in a standardized format.
## Footnote
It supports decision support systems with integrated, subject-oriented databases.
33
List the characteristics of Data Warehouses.
* Subject oriented
* Integrated
* Time-variant
* Nonvolatile
* Summarized
* Not normalized
* Metadata
* Web based, relational/multi-dimensional
## Footnote
These characteristics differentiate data warehouses from traditional databases.
34
What is a Data Mart?
A departmental small-scale data warehouse that stores only limited/relevant data.
## Footnote
Data marts can be dependent (from a data warehouse) or independent (for a specific department).
35
What is the difference between a dependent and an independent data mart?
* Dependent data mart: Created directly from a data warehouse
* Independent data mart: A small data warehouse for a strategic business unit or department
## Footnote
Dependent data marts rely on data warehouses for data provisioning.
36
What are Operational Data Stores (ODS)?
A type of database often used as an interim area for a data warehouse.
## Footnote
ODS stores current data for operational reporting and analysis.
37
What does Metadata refer to in a data warehouse?
Data about data, describing the contents of a data warehouse and the manner of its acquisition and use.
## Footnote
Metadata is crucial for understanding the structure and meaning of the data stored.
38
What is the main purpose of Data Integration?
To combine data from different sources into a unified view.
## Footnote
Data integration involves data access, federation, and change capture.
39
What are some important criteria in selecting an ETL tool?
* Ability to read from and write to various data sources
* Automatic capturing and delivery of metadata
* History of conforming to open standards
* User-friendly interface
## Footnote
These criteria help ensure the effectiveness and efficiency of the ETL process.
40
What is the difference between OLTP and OLAP?
* OLTP: Online transaction processing focusing on routine task efficiency
* OLAP: Online analytical processing aimed at converting data into information for decision support
## Footnote
OLTP is used for daily operations, while OLAP is used for analysis and reporting.
41
What is a Star Schema?
The most commonly used and simplest style of dimensional modeling in data warehousing.
## Footnote
It consists of a fact table surrounded by dimension tables.
42
Define Snowflake Schema.
An extension of the star schema where the diagram resembles a snowflake in shape.
## Footnote
In snowflake schemas, dimension tables are normalized into multiple related tables.
43
What are the main issues pertaining to scalability in data warehousing?
* Amount of data in the warehouse
* Growth rate of the warehouse
* Number of concurrent users
* Complexity of user queries
## Footnote
Scalability ensures that performance remains effective as data volume increases.
44
What is the role of a Data Warehouse Administrator (DWA)?
To maintain the data warehouse structure, ensuring high performance and alignment with business needs.
## Footnote
A DWA should have technical knowledge and excellent communication skills.
45
What are some common failure factors in Data Warehouse projects?
* Lack of executive sponsorship
* Unclear business objectives
* Cultural issues ignored
* Change management challenges
* Low data quality
## Footnote
These factors can lead to project delays or failures.
46
What is Real-Time/Active Data Warehousing?
Enabling real-time data updates for real-time analysis and decision-making.
## Footnote
This approach is increasingly important for organizations needing immediate insights.
47
True or False: All data should be continuously updated in a real-time data warehouse.
False
## Footnote
Not all data requires continuous updates; some may be less critical.
48
What are the benefits of Hosted Data Warehouses?
* Minimal investment in infrastructure
* Frees up capacity on in-house systems
* Access to better quality equipment and software
* Provides faster connections
## Footnote
Hosted solutions can be more cost-effective and scalable.
49
Fill in the blank: A _______ is a retrieval-based system that supports high-volume query access.
Dimensional Modeling
## Footnote
Dimensional modeling is crucial for performance in analytical environments.
50
Define BI
The use of analytical tools, techniques and processes to analyze data and make data driven decisions in an organization.
51
Business Pressures-responses-support model
it looks at the environmental factors that affect businesses, how businesses respond to the factors and the computerized tools used in the process.
52
Environmental factors
Markets
Consumer demands
Technology
Societal
53
BI architectures and components
Data Warehouse; data obtained from operational sources used to make decisions.
Business analytics; a collection of tools for manipulating, mining and analyzing data in the DW (OLAP)
BPM; uses the balanced scorecard methodology which is a framework for implementing and managing business strategies by linking objectives with functional measures.
User Interface; use of dashboards and other information broadcasting tools to present data for easy comprehension.
54
Benefits of BI
Time saving
Cost saving
Increased revenue
Faster & more accurate reporting
More efficient
55
Automated Decision System
A rule based system that provides a solution, usually in one functional area. eg. specific repetitive managerial problem.
56
Event-driven alerts
Warning or action activated when an unusual even occurs
57
BI GOVERNANCE
It is about establishing clear roles, responsibilities, data standards and access standards to ensure that BI systems deliver consistent, reliable and trustworthy insights for decision-making.
aligns BI initiatives with business strategies.
58
BI issues/ tasks
1. Create categories of projects (investment,
business opportunity, strategic, mandatory,
etc.)
2. Define criteria for project selection
3. Determine and set a framework for
managing project risk
4. Manage and leverage project
interdependencies
5. Continuously monitor and adjust the
composition of the portfolio
59
OLTP VS OLAP
OLAP
- Supports analytical queries and decision-making
- Historical, aggregated data
- Large volumes of data, updated periodically
- More effective
OLTP
- Real time data
- Efficient
- supports transactional data
| Feature | **OLTP (Online Transaction Processing)** | **OLAP (Online Analytical Processing)** |
60
Intelligence vs Espionage
intelligence; Legal, strategic, and often data-driven
espionage; Secretive, deceptive, and often unauthorized or illegal
61
BI tools
visualization
business analytics
data management
strategy and performance management
