BUSINESS INTELLIGENCE
•There are also two ways of looking at data: with the intent to explain behavior that has already occurred, and you have gathered data for it; or to use the data you already have in order to predict future behavior that has not yet happened.
•Before data science jumps into predictive analytics, it must look at the patterns of behavior the past provides, analyze them to draw insight and inform the path for forecasting. Business intelligence focuses precisely on this: providing data-driven answers to questions like…
•How many units were sold?
•In which region were the most goods sold?
•Which type of goods sold where?
•How did the email marketing per- form last quarter in terms of click- through rates & revenue gene-rated?
•How does that compare to the performance in the same quarter of last year?
Although Business Intelligence does not have “data science” in its title, it is part of data science, and not in any trivial sense.
WHAT DOES A BI ANALYST DO
Of course, data science can be applied to measure business performance. But in order for the Business Intelligence
Analyst to achieve that, they must employ specific data handling techniques.
Analyst to achieve that, they must employ specific data handling techniques.
- The starting point of all data science is data. Once the relevant data is in the hands of the
BI Analyst (monthly revenue, customer, sales volume, etc.), they must:
BI Analyst (monthly revenue, customer, sales volume, etc.), they must:
•quantify the
observations
observations
•calculate KPIs
•examine the measures to extract in- sights from their data.
Data Science is about telling a story.
•Apart from handling strictly numerical information,
data science, and specifically BI, is about visualizing the findings, and creating easily digestible images supported only by the most relevant numbers.
data science, and specifically BI, is about visualizing the findings, and creating easily digestible images supported only by the most relevant numbers.
•All levels of management
should be able to understand
the insights from the data and
inform their decision-making.
should be able to understand
the insights from the data and
inform their decision-making.
•BI analysts create dashboards
& reports, accompanied
by graphs, diagrams, maps, and other comparable
visualizations, to present the findings relevant to the current business objectives.
& reports, accompanied
by graphs, diagrams, maps, and other comparable
visualizations, to present the findings relevant to the current business objectives.
WHERE IS
BI USED
PRICE
OPTIMISATION
•Notably,
data
science is applied to inform things like
price
optimization techniques.
data
science is applied to inform things like
price
optimization techniques.
•How does
that work?
With BI!
The relevant
information
is
extracted
in
real
time,
it
is
compared
with historical, and actions are taken accordingly.
that work?
With BI!
The relevant
information
is
extracted
in
real
time,
it
is
compared
with historical, and actions are taken accordingly.
•Consider hotel
management behavior: prices
of rooms are raised in periods when many people want
to
visit
the
hotel
and
reduced
when
the
goal
is
to attract visitors in periods with low
demand.
management behavior: prices
of rooms are raised in periods when many people want
to
visit
the
hotel
and
reduced
when
the
goal
is
to attract visitors in periods with low
demand.
INVENTORY
MANAGEMENT
MANAGEMENT
•Data
science,
and
business
intelligence, are invaluable
for
handling over and undersupply.
science,
and
business
intelligence, are invaluable
for
handling over and undersupply.
•How
does
it
work?
In-depth analyses of past sales
transactions
identify seasonality patterns
and the
times
of
the
year
with
the
highest
sales,
which
results in
the
implementation of effective inventory management
techniques that meet demands at minimum
cost.
does
it
work?
In-depth analyses of past sales
transactions
identify seasonality patterns
and the
times
of
the
year
with
the
highest
sales,
which
results in
the
implementation of effective inventory management
techniques that meet demands at minimum
cost.
WHO DOES BUSINESS INTELLIGENCE
BUSINESS
INTELLIGENCE ROLES
INTELLIGENCE ROLES
•Business Intelligence Analyst
A BI analyst focuses primarily on analyses and reporting of past historical
data.
•Business Intelligence Developer
The BI developer is the person who handles more advanced programming tools, such as Python and SQL, to create analyses specifically designed for the company. It is the third most frequently encountered job position in the BI team.
•Business Intelligence Consultant
Ø The BI consultant is often just an ‘external BI analyst’. Many companies outsource their data science departments
as they don’t need or want to maintain one.
as they don’t need or want to maintain one.
ØBI consultants
would be BI analysts had they been employed; however, their job is more varied as they hop on and off different projects.
would be BI analysts had they been employed; however, their job is more varied as they hop on and off different projects.
ØThe dynamic nature of their role provides the BI consultant with a different perspective, and whereas the BI Analyst has highly specialized knowledge (“depth”),
the BI consultant
contributes to the breadth of the data science team.
the BI consultant
contributes to the breadth of the data science team.
Class Sessions
1- Introduction to Data Analytics
2- What is Data Science
3- Overview
4- Data preprocessing
5- Data Quality Assessment and Use Case
6- Where does Data come from?
7- Who handles th Data
8- BUSINESS INTELLIGENCE
9- Traditional Methods
10- Traditional Forecasting uses
11- Content
12- Machine Learning Uses
13- Introduction to Large Language Model and Generative AI
14- Data protection
15- Data Management practises
16- Tools and Frameworks