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Description
| SESSION | FEB-MAR 2025 |
| PROGRAM | MASTER OF BUSINESS ADMINISTRATION (MBA) |
| SEMESTER | III |
| COURSE CODE & NAME | DITF304 BUSINESS INTELLIGENCE AND TOOLS |
Assignment Set – 1
Q1. What is meant by “Business Intelligence,” and in what ways does it contribute to improved decision-making within organizations? Provide examples demonstrating the use of Business Intelligence tools across different industries. 6+4
Ans 1.
Understanding Business Intelligence and Its Role in Decision-Making
Business Intelligence (BI)
Business Intelligence (BI) refers to the processes, technologies, and tools used to collect, analyze, and present business data. The main objective of BI is to support better decision-making by transforming raw data into meaningful and useful insights. BI involves data mining, analytical processing, querying, and reporting. It helps organizations identify trends, detect inefficiencies, and gain a competitive advantage in their respective industries.
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Q2. How can Power BI be used to convert raw data into meaningful visual insights? Outline the process, including data import, transformation, visualization, and report sharing, and provide a practical example of how Power BI can be applied in a business scenario. 5+5
Ans 2.
Power BI and Its Utility
Power BI is a powerful business analytics tool developed by Microsoft that transforms raw data into meaningful visual reports and dashboards. It enables organizations to analyze and share insights across departments and devices. The tool supports data integration from various sources, making it an essential
Q3. Describe the fundamental concepts of data mining, including its advantages and disadvantages. Share examples where data mining techniques have been successfully applied across various industries. 6+4
Ans 3.
Data Mining
Data mining is a process that involves extracting meaningful patterns, trends, and knowledge from large sets of data using various statistical, mathematical, and machine learning techniques. It is a core component of knowledge discovery in databases (KDD) and plays a pivotal role in business intelligence by revealing hidden correlations and customer behaviors that are not immediately obvious through traditional analytics.
Advantages of Data
Assignment Set – 2
Q4. Describe the different types of business models utilized in data warehousing, and provide examples of industries or use cases where each model is commonly applied. 10
Ans 4.
Understanding Business Models in Data Warehousing
Data warehousing involves the consolidation and storage of large volumes of structured data from multiple sources into a central repository to support analysis and decision-making. Different business models in data warehousing define how this data is structured, accessed, and used within an organization. The choice of model impacts performance, scalability, and applicatio
Q5. Explain the importance of identifying data sources during the data extraction process. How does ensuring accurate and reliable data extraction enhance decision-making and support effective data analysis? 5+5
Ans 5.
Significance of Identifying Data Sources in the Extraction Process
Identifying the correct data sources is a critical first step in the data extraction process. Data sources are the origins of raw data and may include transactional databases, enterprise applications, spreadsheets, cloud services, and web APIs. Understanding the nature, structure, and relevance of these sources ensures that only meaningful and required data is extracted, which directly affects
Q6. Identify and discuss the key strategies for developing a Business Intelligence (BI) solution. How does a well-defined strategy and roadmap influence the success of a BI initiative? 5+5
Ans 6.
Key Strategies for Developing a Business Intelligence Solution
Defining Clear Objectives
Developing an effective Business Intelligence (BI) solution requires a structured approach that aligns technology with business goals. The first strategy is defining clear objectives. Organizations must determine what they want to achieve with BI—whether it’s tracking KPIs, enhancing