DITF304 MBA BUSINESS INTELLIGENCE AND TOOLS

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SESSION MARCH 2023
PROGRAM MASTER of business administration (MBA)
SEMESTER III
course CODE & NAME DITF304 BUSINESS INTELLIGENCE AND TOOLS
CREDITS 4
nUMBER OF ASSIGNMENTS & Marks 02

30 Marks each

 

 

Assignment Set – 1

 

  1. Define “Business Intelligence” and discuss its value in enhancing decision-making processes within organizations. Provide examples of how Business Intelligence applications can be utilized in different industries.

Ans 1.

Business Intelligence

BI is the art of making decisions based on information, knowledge, and experience. With the advancement and involvement of computers in our daily life, various computer-based techniques have improved the BI processes. BI tools turn ‘data’ into ‘information’ and the ‘information’ further aids in

 

 

  1. Explain the concept of converting large amounts of corporate data into useful information. Discuss the steps involved in this process.

Ans 2.

The process of converting large amounts of corporate data into useful information is typically referred to as data analysis or data analytics. This is a critical part of business intelligence and involves a complex process of inspecting, cleansing, transforming, and modeling data with the aim of discovering useful information, making conclusions, and supporting decision-making.

The steps involved in this

 

 

 

  1. Explain the fundamental concepts of data mining and its advantages and disadvantages. Provide examples of how data mining has been applied in different industries.

Ans 3.

Fundamental concepts of data mining

The other name for data mining is knowledge discovery in data (KDD). Data mining is the process that uncovers patterns as well as other important information from big data sets. Databases can accommodate vast quantities of data that aids in decision making. It is almost impossible to extract useful

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Assignment Set – 2

 

  1. Discuss the different types of business models used in data warehousing. Provide examples of industries or scenarios where each type of business model is commonly employed.

Ans 1.

Types of business models

There are various types of business models to choose from. The most commonly used business models are:

  • Retailer model: It is the most commonly used business model, wherein finished goods are bought from manufacturers and distributors and sold to the end customers. Grocery stores, pharmacy stores, and garments stores are

 

  1. Discuss the importance of identifying the sources of data in a data extraction process. Explain how accurate and reliable data extraction contributes to effective decision-making and data analysis.

Ans 2.

Data extraction is a vital process in the field of data analysis and decision-making. It involves retrieving data from various sources in different formats such as databases, web pages, text files, and more. The first step in the process, identifying the sources of data, plays a significant role in ensuring the quality and reliability of the extracted data, which are the pillars of effective decision-

 

 

  1. Analyze the strategies involved in developing a Business Intelligence solution. Explore how a well-defined strategy and roadmap contribute to the success of a BI initiative.

Ans 3.

Business Intelligence (BI) is a technological approach that transforms raw data into meaningful insights to facilitate strategic, tactical, and operational decision-making in an organization. The implementation of a BI solution is a complex process that requires a well-defined strategy and a structured roadmap. The following sections will dissect the strategies involved in developing a BI solution and explore how they contribute to the success of the initiative.

Understanding Business Needs: The first critical strategy involves thoroughly understanding the

 

 

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