MIS Chapter 12

Online Analytical Processing (OLAP)

"Slicing and dicing" data stored in a dimensional format, drilling down in the data to greater detail, and aggregating the data.

Data Mining- two basic operations

(1) Predicting trends and behaviors (2) Identifying previously unknown patterns and relationships.

Multidimensional Analysis

(1) Provides users with a look at what is happening or what has happened. (2) Allows users to analyze data in such a way that they can quickly answer business questions.

Unstructured problems

Are fuzzy, complex problems for which there are no cut-and-dried solutions

Semistructured problems

Are problems in which only some of the decision process phases are structured.

Structured problems

Are routine and repetitive problems for which standard solutions exist.

Real-Time BI

Enables users to employ multidimensional analysis, data mining, and decision support systems to analyze data in real time.

Decisional roles

Entrepreneur, disturbance handler, resource allocator, negotiator.

Interpersonal roles

Figurehead, leader, liaison

Management control

Involves decisions concerning acquiring and using resources efficiently in accomplishing organizational goals.

Strategic planning

Involves decisions concerning the long range goals and policies for growth and resource allocation.

Operational control

Involves executing specific tasks efficiently and effectively.

Management

Is a process by which organizational goals are achieved through the use of resources (people, money, energy, materials, space, time).

Management Cockpit

Is a strategic management room that enables top-level decision makers to pilot their businesses better

Data Visualization Technologies

Is the process of presenting data to users in visual formats, thereby making IT applications more attractive and understandable to users

Informational roles

Monitor, disseminator, spokesperson

Dashboard

Provide rapid access to timely information. Provide direct access to management reports. Are very user friendly and supported by graphics.

Decision

Refers to a choice that individuals and group make among two or more alternatives

Business Intelligence (BI)

Refers to applications and technologies for consolidating, analyzing, and providing access to vast amounts of data to help users make better business and strategic decisions.

Decision Making Process

Systematic process composed of three major phases: intelligence, design and choice (Simon 1977), with the implementation phase added later.

What-if Analysis

The study of the impact of a change in the assumptions (input data) on the proposed solution.

Sensitivity Analysis

The study of the impact that changes in one (or more) parts of a model have on other parts.

Goal-seeking Analysis

The study that attempts to find the value of the inputs necessary to achieve a desired level of output.

Data Mining

mining refers to the process of searching for valuable information in a large database, data warehouse, or data mart.