Business Studies Assignment Paper on An Observation of Various Business Intelligence Solutions

An Observation of Various Business Intelligence Solutions

1. What is GIS and how can a business use the information?

Geographic information system (GIS) incorporates hardware, software, and information for running, scrutinizing, and exhibiting all types of geologically referenced data. GIS makes it possible to observe, comprehend, realize, and picture data in various ways that discloses relations, models, and tendency in the form of diagrams and maps. Knowledge in GIS can be incorporated in several project information system structures.

The information can be used in business and management roles for example logistics, location and services management, promotion, administrative, and planning. GIS can also be of assistance to a retail industry in finding the finest location for its subsequent store. It assists marketers realize up-to-the-minute prospects. Inserting information on a map shows up where the business enjoys a lot of clients if it owns a store. The system helps in observing, understanding and visualizing data in a manner that would be impossible while using rows and columns of database. Additionally with information on a map, more questions can be asked for example where, why, and how, all with the site data readily available. Better decisions can be made with the knowledge that topography and spatial examination are included. Nowadays businesses have started using GIS, this is due to the fact that much of the information that businesses normally use contain considerable spatial elements. As a result of this reason, an escalating number of organizations have started making significant use of GIS in various regular decision support and analysis functions.

Rise in demand from up-and-coming markets for site data and examination is further anticipated to have an effect on the investments made on Geographic Information Systems. Additionally, a drift towards geologically enabled Business Intelligence functions is anticipated to compel the sales of site intelligence functions incorporated with BI applications.

Business necessities for information systems are as varied as the many forms of businesses in existence. However, majority of organizations make use of information systems for one or more of the following five functions: transaction, business operation, catalog control, forecast and administrative and in-house managing and control. GIS can be employed for these tasks because it has ability that is universal to customary spatial data systems. Additionally, GIS also has characteristics that supply them with abilities that other information systems do not possess. The GIS applications are as a result of some exclusive activities in which GIS can be used to tackle the requirements of business. The GIS tasks are visualization, worksheet management, decision modeling, and design and plan. Spatial imaging can be described as the essential GIS potential of representing exhibits of statistics and information within a spatially distinct coordinate structure.

The worksheet management task characterizes the potentiality of GIS to stock up, control, and present access to data. The decision modeling function signifies ability of GIS in providing assistance in scrutinizing and managerial task. Lastly, design and planning task signifies the ability of GIS to be used in creating, designing, and forecasting. GIS is essential for business because the majority of business problems incorporate considerable spatial components and GIS facilitate decision makers in weighing their data resources more efficiently. GIS is helpful in managing worksheets, even enormously large applications for example data warehouses, because it presents an improved data composition that is derived from the natural organization that topography offers.

2. What can be the problems with Expert Systems? Give examples and list what I should consider when using an Expert System

Various problems linked with expert systems include the following. On the mechanical area, there is the trouble with the magnitude of the worksheet and using it proficiently. If the system comprise of numerous thousand policies, it requires a powerful control program to create any deduction in a practical time period.

In a situation where the system also has a huge amount of information in the running memory, there will be slower operations except when one has an exceptional indexing and search structure. Another crisis that arises due to large worksheet is that as the amount of rules rises, the conflict set also tends to enlarge. A high-quality conflict resolving set of rules is required if the system is to be functional.

The other likely predicament is matters related to accountability. For example, a structure used by a physician that is intended to give drugs to patients with regard to their requirements and that it must first make a diagnosis, exactly like the way a GP prescribes. If the system makes the patient to take the incorrect medication and the individual is injured, who is legally liable? Some would suggest the health authority that permitted the physician to use the system while others would say the physician or the sellers of the Expert System.

A clearer predicament is assembling the rules whereby human experts are costly and are not likely to desire sitting down and writing out a huge quantity of rules as to how they came up with their deductions. Even if they will generally pursue a reasonable path to their deductions, putting these into a set of rules that explains how they made the conclusions may be hard.

It is likely that a lot of human experts, despite the fact that they start off in their careers with a set of rules, they gain knowledge of doing their job through experimental knowledge. Once more they may have pursued a rational path, but psychologically they may have passed over some steps along the way to giving the solution. An Expert System should not do this and requires knowing the rules unmistakably. The solution to this problem is to enable Expert Systems to study as they go, starting off with a lesser amount of rules but given the capacity to figure out new rules from what they know and what they practice.

The frequent difficulty with expert systems in the scholarly literature is the data engineering hitch. Acquiring the time of domain experts for any software function is always complex but for expert systems it was in particular hard because the specialists were by definition greatly valued and in regular demand by the organization.

The following should well thought-out while using an expert system. Why come up with the expert system? This is most likely the most significant question of any scheme and before starting an apparent description of the problem, professional and user. What is the benefit? This is asking for the precise return on investment of assets, time and capital. The benefits maybe cash, improved efficiency, or any other rewards of an expert system.

 What tools is on hand to put up the system? There are numerous tools available nowadays with advantages and drawbacks. Each ought to be well thought-out and all alternatives should be weighed up to ascertain your own best choice.

 The further contemplation ought to be expenses sustained in using expert system. The cost of constructing expert system relies on the individuals, capital, and time dedicated to its structuring. In addition to hardware and software necessary to operate an expert system tool, there may also be substantial expenditure in training.

3. What is Business Intelligence (BI) and why should a business use it?

Business intelligence (BI) can be described as the processes, systems and dimensions businesses uses to easily observe, scrutinize and comprehend information relevant to the past, present performance and prospect projections for a company. Other terms that are frequently used to explain BI are business analytics and managerial decision support.

The aim of BI is to assist decision-makers make well-versed and enhanced decisions to run the business. Business intelligence software solutions achieve this by making it easy to total and see the data. Consecutively, this makes it simpler to see movements and issues, reveal new insights, and adjust operations to obtain business objectives.BI solutions can be extremely broad, but also they can emphasize on particular tasks, for example business performance management, spend breakdown, sales channel analysis and sales return analysis.

Business intelligence can be useful to the following business functions, in order to compel business value. First program applied is measurement which is a program that forms a chain of command of performance metrics and a yardstick that enlighten business leaders about development towards business goals and objectives.

The other program is Analytics. This is a program that makes quantitative procedures for a business to arrive at the best possible decisions and to carry out business knowledge invention. Normally it involves: statistics mining, procedure mining, numerical analysis, projecting analytics, prognostic modeling, procedure modeling, complex event processing, and rigid analytics.

The other function of BI is probably project reporting. This is a program that constructs infrastructure for tactical reporting to provide the tactical managing of a business. Normally it includes visualization and managerial information system. The other function is collaboration platform and it incorporates diverse areas that are both inside and outside the business to operate together through information sharing and electronic data swap. Lastly there is Knowledge management which helps in making the company’s information driven through tactics and operations. This helps in identifying, creating, distributing, and enabling implementation of insights and practices that are true business awareness. Knowledge management helps in acquiring information of management and regulatory conformity.

Additionally, business intelligence can also present a practical approach, such as alarm role to alert instantly to end-user. There are numerous types of alerts for instance if some business worth goes beyond the threshold rate the color of that amount in the report will turn RED and thus giving an alert to the business analyst. At times an alert mail may be sent to the user as well. This end to end procedure needs data governance, which should be operated by an expert.

Business Intelligence devices present companies with steadfast information and correct insights in order to enhance decision making, social partnership and generate improved company results. These tools offer the means for proficient reporting, by means of analysis of huge data, figures and analytics and dashboards showing the significant indicators. They can be used in company data in order to merge, scrutinize, report and envision all that data with ease. It assists organizations to realize how things are running and in the long run where things are going in the wrong way. They provide staff and managers with the opportunity to advance their business processes on every day basis by using right information.

4. What is a dashboard? Explain what are the advantages and disadvantages of using a dashboard?

A dashboard is a business managing device used to visually give a picture of the performance of a project, an exact department, or a main business function. Major performance indicators figure outstandingly in business dashboards and allow end-users to have alertness of their progressive performance. Like a vehicle dashboard, company dashboards sum up composite information using images like graphs and other signs to notify end-users of the present position of their performance.

The rewards of dashboards are as follows; dashboards correct negative tendencies. Once unhelpful trend is identified, localized, and examined, comes the time for rectifying them. Eradicating negative trends is made possible due to enhanced abilities for adjusting existing factors on trend’s path. Dashboards help in enhancing the success of newly-made resolutions. Although improving the effectiveness of deciding is the universal aim for all business intelligence resolutions, every device treat the issue in a special manner. Dashboards, for example, endorse decision making with more suitable and more precise information. Consequently, well-versed decisions are being made that influence company’s performance. Dashboard assists in determining company’s restrictions. It is not easy to gauge company’s actual performance or effectiveness. Although something looks fine from the outer surface, in actual fact it may be many times worse, but the outside warning signs still are not observable. In-depth scrutiny helps managers to respond to company’s inefficiencies before it is too late to amend anything drastically. It is necessary for reducing credible losses and increase demanded incomes. Dashboard also improves performed analysis due to its visualization capabilities. Normally untainted data is not sufficient to discover and map out all the irregularities. What is not visible in databases of values might emerge because of in depth visualization of analysis. Although it may perhaps seem unprofessional, it indeed works. Present dashboards therefore up hold image presenting of analysis regarding performance indicators.

Dashboards also have numerous drawbacks. They have reasonably poor performance and this is due to the fact that every operation needs more than a half of minute, accessing every data becomes very difficult. Although using a dashboard still is more competent than working on multiple reports, performance still needs considerable improvements.

Further weakness is delay in accessing resources. Dashboards are effective with other business intelligence techniques because of their enabling single logging in to obtain all the resources and subject request. Unfortunately, in some occasions even today’s dashboards call for multiple logging which considerably slows down the operations. The other disadvantage is that, the technology used for dashboards being new and completely different from existing solutions, it is hard to comprehend at the beginning. There is time required to get accustomed to it, even though in some instances it might not be possible for older people whose relation with business intelligence is much longer. Dashboards have standard and repulsive designs. While bearing in human mind point of view, their design cannot be misplaced. Although it is hard to be placed on the other end of balance than tabular reports, current dashboards still may look more times better and this would definitely help customers in paying attention on their work. There is also an issue with difficulty in physical inputs of the data. When users want to connect some supporting data to a dashboard, they are typically forced to do it manually.