Business Intelligence and Analytics

Abstract A business intelligence system is a data‐driven decision support system. Managing data is especially important for business intelligence and analytics. Data warehouses, marts or data‐driven decision support systems are intended to help managers transform data into information and knowledge. Routinely data is moved from source systems to a decision support data store. Some comparison reports include external data on competitors or other relevant data. Analytics refers to quantitative analysis of data. There are three components of business analytics: i) descriptive analytics, ii) predictive analytics and iii) prescriptive analytics. Besides statistical analysis techniques, data mining is the key component of predictive analytics. Data mining is a process of analyzing large amounts of data to identify data content relationships. Cloud computing and “Big” data are changing business intelligence and analytics. Columnar data bases let analysts work with data from web logs and other nonrelational data sources.