BI Concepts

BI Definations
   - A system that Collects, Integrates, Analysis and present business information to business end users to support better business decision making.
   - converts Raw data to meaning & useful information to support decision making.
BI Capabilities
   - Datastorage and management, Information Delivery and Query, Analysis and Reports
Benefits of BI
   - Analysis the past(What happened) and predict the future(What will happen)
- Answering following questions
Analytics
- What is the best can happen(Optimization)
- What will happen next(Predicative)
- What if these trends continue(Forecasting)
- Why is this happening(Statiscal Analysis)
Data Access & Reporting
- What actions are required(Alerts)
- Where exactly is the problem(Dril down)
- how many, how often, where?(Adhoc)
- What happened(Standard reports)
BI Golder Rule
Data Quality & Accuracy
Data Consistency
Data Timeliness
Get the right information to the right people at the right time
Measure - A number representing a business relevant quantity (money, nbr of customers, hours etc.)
Nothing inherently good or bad with a measure
Metric - A value derived by a combination of two or more measures in time. Ex: Financial Ratios, Total Revenue over time etc.
            Metrics do provide the notion of whether the values are good or bad and also helps in benchmarking.
A KPI is a specific metric to track/predict performance.