Revision Abishek Flashcards
(11 cards)
What is business intelligence and how it works?
Business Intelligence (BI) is the set of processes and technologies that organizations use to collect, integrate, analyze, and present business information in order to make better decisions. BI uses tools like dashboards, automated reports, and data visualizations to turn large amounts of raw data into useful and understandable insights.
What are the key difference between BI and traditional data analysis
The key difference between BI and traditional data analysis is automation and real-time access. Traditional data analysis is often manual and based on historical data, with analysts working on spreadsheets, making calculations, and generating static reports. This method is time-consuming and usually only tells managers what happened in the past.
BI, on the other hand…
BI, on the other hand, collects data from many sources automatically and refreshes the information in real time. It doesn’t just show what happened but also helps explain why it happened, what could happen next, and what actions should be taken.
Give a exemple of use of BI in a restaurant
For example, a restaurant using BI could instantly see which menu items are underperforming this week, get automatic alerts if sales drop, and use predictive analytics to plan staff schedules or new promotions. This is much more powerful than waiting until the end of the month to analyze numbers manually.
n summary, BI makes organizations more…
In summary, BI makes organizations more agile, proactive, and competitive by providing fast, relevant insights for smarter decision-making. The main advantages are speed, accuracy, and strategic foresight, but the implementation can be complex and costly, especially for small businesses.
What is big data
Big data refers to data sets that are so large, fast, or complex that traditional data processing methods and tools cannot handle them effectively.
what are the key characteristics of big data?
The key characteristics that make big data unique are often called the “four Vs”: Volume, Velocity, Variety, and Veracity.
4 V:
Volume means there is a huge amount of data—think millions of transactions, social media posts, or sensor readings. Velocity refers to the speed at which data is generated and must be processed; for example, online reservations or real-time delivery tracking. Variety describes the different forms of data, such as numbers, text, images, videos, and even machine logs. Veracity is about the quality and trustworthiness of the data; big data can include errors, duplicates, or misleading information, so it’s important to clean and validate it before using it for decision-making.
Traditional data sets are…
Traditional data sets are usually smaller, slower, and come in structured formats like Excel or simple databases, making them easier to manage but less rich in insights. Big data requires specialized systems, like distributed databases (Hadoop, Spark) and advanced analytics tools, to store, process, and analyze all this information.
In a restaurant big data…
In a restaurant, big data could mean analyzing not just sales, but also social media trends, customer reviews, delivery patterns, and even weather forecasts to optimize menus and staff levels.
By using big data…
By using big data, companies can uncover patterns, predict future behaviors, and gain competitive advantages that are simply not possible with small, simple data sets.
