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Business Intelligence Concepts

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Data Mining

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The process of discovering patterns and knowledge from large amounts of data. It's often used for market research and customer segmentation.

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BI Reporting

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Creating reports that provide information to help organizations with decision-making. These reports pull from data analysis, visualizations, and KPIs.

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OLAP (Online Analytical Processing)

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A computing method that allows users to easily and selectively extract and query data to analyze it from different points of view.

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Dashboard

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A visual representation of the most important information needed to achieve one or more objectives; consolidated on a single screen so information can be monitored at a glance.

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KPI (Key Performance Indicator)

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A measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs to evaluate their success at reaching targets.

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Predictive Analytics

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Techniques that use statistical models and forecasting methods to understand the future and make data-driven decisions.

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ETL (Extract, Transform, Load)

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A process in database usage and especially in data warehousing that involves extracting data from outside sources, transforming it to fit operational needs, and loading it into the end target.

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Data Warehouse

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A system used for reporting and data analysis, often considered a core component of business intelligence. It is a central repository of integrated data from one or more disparate sources.

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Big Data

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Large sets of data that are analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.

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Data Visualization

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The graphical representation of information and data. By using visual elements like charts, graphs, and maps, data visualization tools provide an accessible way to see and understand trends and patterns.

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Machine Learning

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A method of data analysis that automates analytical model building. It is a branch of artificial intelligence based on the idea that systems can learn from data, identify patterns and make decisions with minimal human intervention.

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Self-service BI

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Business intelligence systems that enable business users to access and work with corporate data even though they do not have a background in statistical analysis, business intelligence, or data mining.

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Data Mart

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A subset of a data warehouse that is usually oriented to a specific business line or team. It can increase the end-user response time due to the reduction in volume of data.

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Ad-hoc Analysis

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A business intelligence process designed to answer a single, specific business question. Users can create reports and data visualizations that are only meant for a one-time use.

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Benchmarking

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The practice of comparing business processes and performance metrics to industry bests and best practices from other companies.

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Drill Down

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A feature that allows users to view detailed data that comprises aggregated data. It helps users to break down the aggregated information to finer granularity.

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Data Cleansing

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The process of detecting and correcting (or removing) corrupt or inaccurate records from a record set or database. It includes identifying incomplete, incorrect, inaccurate or irrelevant data and then replacing, modifying or deleting this data.

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Descriptive Analytics

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The process of using data to understand past and current business performance and make informed decisions. It is the foundation of business intelligence and data-driven strategy.

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Data Discovery

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The process of collecting data from various sources and consolidating it into a single dataset that presents significant information in a visual context, which can help in analytical processing.

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Business Analytics

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The combination of skills, technologies, applications and processes used by organizations to gain data-driven insights. These insights can be used to make strategic business decisions.

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Dimensional Modeling

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A data structure technique optimized for data warehousing tools. It is a logical design that outlines how data is stored in a database to answer business questions quickly and accurately.

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Data Governance

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The overall management of the availability, usability, integrity, and security of the data employed in an organization. It establishes policies and procedures and plans for managing data assets.

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Metadata Management

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The administration of data that describes other data, with the goal to provide context and meaning. It helps users understand the data source, its structure, uses, and origin.

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Data Profiling

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The act of reviewing source data, understanding its structure, content, and interrelationships, and identifying potential for data projects. This is particularly important for ensuring data quality.

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Data Blending

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The process of combining data from multiple sources to create a cohesive, comprehensive view for analysis and reporting.

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