Week 8 - Business Intelligence

Question 1

Define what is meant by Business Intelligence.

Answer 1

The collation and presentation of data to support improved decision making.

Question 2

Name 3 business intelligence tools

Answer 2

Spreadsheets, data mining, drill-down analysis (from a data warehouse)

Question 3

What can be managers tasks in relation to Business Intelligence?

Answer 3

Tracking, monitoring, alerting, problem-solving, analysis, design and communication.

Question 4

How can Business Intelligence assist Management?

Answer 4

1. By simplifying problems and situations through reduction of uncertainty.
2. An aid to monitoring performance
3. Means of communication
4. A supplement to personal memory by having historical information.

Question 5

What can Decision Support applications use?

Answer 5

1. Analytical models
2. Specialised Databases
3. A decision makers own insights and judgements
4. An interactive modelling process to support semi-structured business decisions.

Question 6

How can expert systems be useful in an analysis or problem-solving model?

Answer 6

Simulates human ‘expert’ thought processes, Stored expertise (Knowledge Base)