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Description
SESSION | JUL – AUG 2024 |
PROGRAM | MASTER OF BUSINESS ADMINISTRATION (MBA) |
SEMESTER | III |
COURSE CODE & NAME | DITF304 BUSINESS INTELLIGENCE AND TOOLS |
Assignment Set – 1
- What is “Business Intelligence,” and how does it add value to decision-making within organizations?
Give examples of how Business Intelligence tools are applied across various industries.
Ans 1.
Business Intelligence (BI) refers to the technologies, processes, and tools that help organizations collect, analyze, and present business data to support informed decision-making. BI encompasses a wide range of functions, including data mining, analytics, performance benchmarking, and data visualization. The goal of BI is to enable organizations to transform raw data into actionable
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- How can you use Power BI to transform raw data into meaningful visual insights? Describe the process, including data import, transformation, visualization, and report sharing, and provide a practical example where Power BI could be effectively utilized in a business scenario.
Ans 2.
Power BI is a powerful business analytics tool developed by Microsoft that enables organizations to transform raw data into interactive and meaningful visualizations. It is widely used to analyze data, create reports, and share insights across teams and organizations. The tool simplifies the process of data
- Discuss the core concepts of data mining, along with its benefits and drawbacks. Provide examples showcasing how data mining has been implemented in different industries.
Ans 3.
Core Concepts of Data Mining, Benefits, and Drawbacks
Data mining refers to the process of extracting meaningful patterns, trends, and insights from large datasets. It involves analyzing vast amounts of data to identify relationships and anomalies that might not be immediately apparent. This discipline integrates concepts from statistics, machine learning, and database management to uncover hidden knowledge. Data mining is a critical component of
Assignment Set – 2
- Explain the various types of business models used in data warehousing. Provide examples of industries or scenarios where each business model is typically applied.
Ans 4.
Types of Business Models in Data Warehousing
Data warehousing refers to the process of collecting, storing, and managing large volumes of structured and unstructured data from multiple sources. The data warehouse serves as a central repository that supports data analysis, reporting, and decision-making. To organize and manage data effectively, several
- Highlight the significance of identifying data sources during the data extraction process. Discuss how accurate and reliable data extraction enhances decision-making and supports effective data analysis.
Ans 5.
Significance of Identifying Data Sources During the Data Extraction Process
The data extraction process is the foundation of any data-driven initiative, involving the retrieval of information from various sources for analysis and decision-making. Identifying data sources accurately is critical to ensuring the relevance, accuracy, and completeness of the extracted data. In a business context, data can originate from a multitude of sources, including transactional databases, enterprise systems, cloud platforms, and external datasets. Recognizing and integrating the right
- Examine the strategies necessary for developing a Business Intelligence (BI) solution. Discuss how having a well-defined strategy and roadmap contributes to the success of a BI initiative.
Ans 6.
Strategies for Developing a Business Intelligence (BI) Solution
Developing a Business Intelligence (BI) solution requires a well-planned strategy to transform raw data into actionable insights. BI solutions provide organizations with the ability to analyze data, visualize