INFS Quiz 3
Supply Chain Operations Reference (SCOR) Model includes the following processes (6)
-plan -source -make -deliver -return -enable
Three types of data stored in Corporations and organizations
-transactional structured data -Analytical structured data -unstructured/semi-structured, un-modeled data
OLAP tools are also known as __________ _____________ tools
Business intelligence
Data Mining patterns should be:(4)
accurate, meaningful, understandable, actionable
data warehouse is one of the primary sources for
data mining
operational databases
data modeled structured and stored for anticipated pre-determined operational use
OLAP tools are designed for analysis of ______ in ___________________ and ______________
data, data warehouses, data marts
data mining is an intersection of: (3)
database management, artificial intelligence (machine learning), and statisitics
automating
changing the business process by automating it
streamlining
changing the business process by removing unnecessary, outmoded, or inefficient steps and methods in the process
map reduce uses ____________ instead of specialized expensive ones
cheap computers
Data mining
discovering new patterns from large data sets
RFM Analysis - Frequency
how often does the customer purchase over a period of time?
Business Process Reengineering
identify business prcess--> review and analyze as is ---> design to be ----> test and implement to be
ERP: for some companies _______ development of an integrated enterprise may be more appropriate
in-house
ERP is one of the ways to achieve an
integrated enterprise wide information system
intergrated enterprise wide information systems
integrated information systems spanning across the entire enterprise
Online Analytical Processing (OLAP)
querying and presenting data from data warehouses and/or data marts for analytical purposes
executive dashboard for a
quick glance at data
executive dashboard intended for
use by higher level decision makers within an organiztion
Customer Relationship Management
use existing customer data to drive loyalty and engagement, and to maximize profitability from lost, current and potential customers
SCM Metrics and KPIs examples: back order rates
percentage of orders that can be filled (back orders) at the time a customer places them
olap tools allow users to retrieve needed date from data warehouses and data marts by using simple _______________________________ mechanisms
point and click
Enterprise Resource Planning (ERP)
premade, intergrated, corporate information system
market basket analysis: correlations are expressed in the form:
transactions that contain x are likely to contain y as well
big data is not modeled
up front for a predetermined operational analytical queries
Online Transaction Processing (OLTP)
updating, retrieving and presenting data from databases for operational purposes
Predictive Analytics
uses past data to predict future events
Most ERP solutions include various compotents eg. (SCM and CRM components) however,
various that focus just on SCM (like JDA) or just CRM (like salesforce) tend to be the best vendors
Big data: semi-structured formats
weblogs, emails, tweets, etc.
RFM analysis: recency
when was the most recent purchase by the customer
one of the most appropriate and fertile source of data meaningful and effective data mining is the enterprise-wide corporate data warehouse (if it exists)
which contains all the info from the operational data sources that has analytical value
CRM: analyze customer behavior with the goal of: (6)
-increasing customer retention -driving sales growth and revenue -segmenting customer base understanding seasonality -identifying potential new customers etc.
examples of sales support metrics and KPIs (3)
-leads to conversions rate -average profit per customer in a time period -upsell revenues in a time period
Examples of customer service metrics and KPIs (3)
-number of complaints in a timer period -customer ratings of service -average time to complete problem resolution
SCM levels of decision making
-operational -tactical -strategic
examples of Marketing Support Metrics and KPIs (3)
-promotional mail/e-mail response rate -increase in sales during the marketing campaign
CRM entails integration of (3)
-sales management -marketing -customer service
OLAP/BI Tools capabilities (3)
-slice and dice -pivot(rotate) -drill down/ drill up
RFM analysis
A method for analyzing a customer value
examples of customer service metrics and KPIs
number of complaints in a time period customer ratings of service
logistics often used as a synonym for
"transportation" or "shipping" or "delivering" however there is more to it
market basket analysis measures support =
(number of transactions containing x and y)/ (number of all transactions)
market basket analysis measures confidence=
(number of transactions containing x and y)/(number of transactions containing x)
supply chain: proper management of the supply chain is critical for companies and organizations in a varitety of industries including (6)
- Manufacturing -Agriculture -Retail -Health Care -Construction and real estate -all other industries that use supplies
using scm software for product orders in retail
- each time a customer brings a products to the cash register a signal is generated
CRM Sotware use examples
-customer Service support -marketing sales support -Automation of customer service
in order to achieve improvements business processes can undertake different types changes (3)
-automating -streamlining -BPR
OLAP/BI Tools Analytical Functionalities (4)
-creating and examining calculated data -determining comparative or relative differences -performing exception analysis, trend analysis, forecasting, and regression analysis -number of other analytical functions
data lake vs data warehouse
A data lake is a vast pool of raw data, the purpose for which is not yet defined. A data warehouse is a repository for structured, filtered data that has already been processed for a specific purpose.
four ways to implement an integrated enterprise system
1. as an ERP system 2. best of breed collection 3. As a custom development Enterprise IS 4. Using a mixed approach
big data can encompass ___________ of strored data
80%/90% or even more
Front-end applications accessing analytical data are also known as
BI tools
paradigm shift
BPR effort in one company redefines the entire industry
mixed approach
Combination multiple ways of integrating a system
Supply chain mgmt: plan
Develop and communicate plans for sourcing, making, delivering and returning/cancellings complany's products/services
ERP solutions are growing because
ERP can appear logical and straightforward solution to the mess of incompatible applications that had sprung up in a business ERP addresses the need for enterprise wide info sharing and reporting ERP can be used to avoid the pain and exense of intergrating legacy old outdated systems
SCM Automation
Enabled by the use of digital information and other technological advances
tools for Accessing data in data warehouses and data marts (3)
OLAP/BI tools, front-end/BI applications, executive dashboards
RFID
Radio Frequency Identification
Large ERP vendors include(2)
SAP and Oracle
Supply chain mgmt: deliver
Schedule and execute the necessary steps for delivering a company's products and services to their customers
middleware
Software that connects two otherwise separate applications
RFM analysis: monetary value
What is the monetary value of the customer's purchase over a period of time?
CRM marketing sales support example
a fashion retailer keeps track of various life events of their customer's (such as anniversaries or birthdays) and then reminds Mr. Larson that his wife's birthday is coming up
customer service support
a part of operational CRM that automates service requests, complaints, product returns, and information requests
Business Process
a set of activities that once completed accomplish a company's task or goal
a custom development Enterprise IS
a single fully intergrated custom developed multi functional system
MapReduce
a technique for harnessing the power of thousands of computers working in parallel traditional parallel approaches use specialized (expensive) computers
Supply chain mgmt: enable
actively and jointly manage all SCM-related processes (plan, make, source, deliver, return) & elements (such as business rules, contracts, regulations, risks, human resources) while measuring & monitoring SCM performance through usage data and information systems
slice and dice
adds, replaces, or eliminates specified attributes (or particular values) from the already displayed result
big data methods: standard database and data warehousing techniques, cannot
adequately deal with the diversity and volume of big data
automation of customer service example:
all customers automatically receive various triggered communications (such as Mr. Larson in the example above) based on their individual data
ERP System
an ERP suite (such as SAP, Oracle appliations, or M1) provide function-specific modules intergrated into a larger system
Best of Breed Collection
an integrated collection of function-specific commercial off-the-shelf software systems
executive dashboard contains
an organized easy to read display of a number of critically important queries describing the performance of the organization
Big Data Methods allow organizations to analyze
and get insight from big data
Business Process Reengineering
the analysis and redesign of workflow within and between enterprises in order to optimize business processes
back order rate =
number of Back orders/ number of all orders
ERP: purchasing dilemna
best of breed vs ERP
SCM metrics and KPIs
calculated based on data in information systems provided in reports and/or dashboards
business process examples (3)
carrying out a sale of a product to a customer enrolling a customer into a loyalty program performing a credit check on a customer booking a business trip for an employee resolving a credit card fraud instance
data lake serves as a
corporate big data repository
for each such process BPR includes
creating a diagram of as is process reviewing and analyzing the As is process
market basket analysis: supermarket example
customers buying x are likely to buy y during the same purchase transaction
SCM: operational decisions
day to day how much inventory to order today based o today's events
integrated information s
enables data sharing by multiple functional areas of the organization
market basket analysis
finds groups of items that tend to appear together in transactions
SCM metrics and KPIs: inventory turnover rate
number of times per year that inventory is purchased, consumed, and replaced
Accessing data in data warehouses and data marts: using OLAP/BI tools-
for direct access
Accessing data in data warehouses and data marts: using front end applications-
for indirect access
big data heterogeneous
from various sources such as smart devices, social media, sensors etc. variety of formats such as semi-structured and unstructured
most users who need to access analytical data in data warehouses and data marts can not engage in direct access instead they are given access to
front-end/BI applications
purpose of BPR
is to make a business process as good as possible
data lake
large data pool in which the schema and data requirements are not defined until the data is queried
executive dashboard: in general the usage of executive dashboards should require
little or no effort or training
SCM: strategic
longer term decisions example:should we consider using overseas suppliers in the next 3-5 years
CRM objectives
maintain, enhance, and improve relationships with customers and potential customers
drill up
makes the granularity of the data in the query result coarser
drill down
makes the granularity of the data in the query result finer
there are numerous data mining techniques one widely used data mining technique is
market basket analysis
big data
massive volumes of diverse and rapidly growing data that are not formally modeled
SCM: Tactical Decisions
medium term decisions what terms to include in the annual contract with our supplier for the upcoming years
In cases where a company has acquired an ERP system but has a business process that differs somewhat from the way it is implemented by the ERP system that company has to either: (2)
modify its operations to match the process in the ERP system or to make allowable adjustments to the ERP system to match the company process
A supply chain is a
network between a company, its suppliers, and its customers whose purpose is to produce and distribute the company's products and or and services
big data analytics is part of overall data strategy
not a separate isolated initiative
bullwhip effect
occurs when product demand information passes throughout the supply chain in a distorted (delayed) way
data mining: mining transactional databases related to current day to day organizational can be
of use in certain situations
paradigm shift example
one company resolves a fraud claim paradigm shift: proactive fraud detection and resolution process using data mining and predictive analytics used by one company, then all company's adopt it
Hadoop is a(n):
open-source implementation of the map reduce techniques
big data methods: big data methods do not replace database and data warehousing approaches developed for managing and utilizing formally modeled data assets. instead they allow
organizations to analyze and get insight from the kinds of data that are not suited for regular database and data warehouse technologies
pivot (rotate)
reorganizes the values displayed in the original query result by moving values of a dimension column from one axis to another
Supply chain mgmt: source
schedule and execute necessary steps for obtaining, materials, goods, and services from suppliers that are needed to produce a company's products and services
Supply chain mgmt: make
schedule and execute the necessary steps for creating a company's products and services
Supply chain mgmt: return
schedule and execute the necessary steps for receiving returned products from their customers and for cancelled services by their customers
middleware are
several types of software that sit between and provide connectivity for two or more software applications
ERP:in house development asks for...
skilled developers and high amount of knowledge sharing and cooperation between various departments within a company
CRM-related Data collection example
starbucks gold
A supply chain consists of all of the
steps it takes to get products and/or services to the customer
data lake is a suitable concept for the
storage of big data as big data is inherently less structured ad typically kept in its raw format
while a data warehouse stores data in predefined target structure with a detailed metadata a data lake is a
storage repository that holds a vast amount of raw data in its native format util it is needed
ERP: if the business process is original or highly specialized ERP probably cant
support it
Big data: unstructured formats
text,video, audio, etc.
Supply Chain
the connected chain of all of the business entities, both internal and external to the company, that perform or support the logistics function
Data Visualization
the graphical presentation of data with a focus on qualitative understanding
Logistics Definition
the part of the supply chain process that plans implements and controls the efficient, effective forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption
SCM metrics and KPIs rate of return
the percentage of increase in the value of your savings from earned interest
market basket analysis: the support measures
the significance of the rule, so we are interested in rules with relatively high support
market basket analysis: the confidence measures
the strength of the correlation, so rules with low confidence are not meaningful even if their support is high
