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ASSIGNMENT
| DRIVE | SUMMER 2015 |
| PROGRAM | MBADS (SEM 3/SEM 5)MBAFLEX/ MBA (SEM 3)
PGDISMN (SEM 1) |
| SUBJECT CODE & NAME | MI0036 – BUSINESS INTELLIGENCE & TOOLS |
| BK ID | B2043 |
| CREDITS | 4 |
| MARKS | 60 |
Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.
- 1. a. List the factors responsible for the increasing importance of Business Intelligence in organizations.
Answer:Internally, wider access to BI solutions can make all employees more accountable while supporting greater consistency in performance management. And externally, partner relationships can be strengthened through effective sharing of data and key performance indicators (KPIs).
According to IDC, an elevated interest in BI and analytics can be traced back as far as 2008. Studies then showed that data analysis was a top priority for nearly half of survey respondents. Judging by the expanding offerings of enhanced BI and analytics products from software providers, the demand has not abated.
- Elaborate any two divisions of benefits of business intelligence in contemporary organizations.
Answer: Reduced labor costs
The most tangible benefit of BI is the time and effort saved with manually producing the standard reports for the organization. It is rarely the largest benefit though. However, because it is so tangible it is often part of the equation when a decision must be made about implementing BI, and if it turns out that these savings alone can justify the
- 2. Roles and responsibilities must be well defined in any organisations to perform well. The effectiveness of business intelligence teams can be improved to a greater extent when the roles and responsibilities are well defined within the organization.
Answer: Business intelligence–the use of sophisticated software to analyze complex data–is no longer the domain of a centralized group of IT staff or advanced data analysts. Today, powerful and Web-based BI tools are accessible to a wide range of business users.
BI is everywhere, and it’s everyone’s job. But with this proliferation comes new challenges. Teams of BI users today often lack the structure, guidance and leadership to effectively mine data. In this article, I’ll share four steps to establish guidelines, organize
- 3. Critically analyse the risks involved in data mining.
Answer: As with all information technologies data mining benefits offer an opportunity to increase the efficiency and effectiveness of an organisation. The core idea behind data mining is that through the use of appropriate technologies we can identify patterns of behaviour, in customers, employees, suppliers, machinery and in fact any aspect of the organisation provided data has been captured. These patterns would then allow us to improve understanding of processes and in some instances predict the outcome of a situation. Obviously this has great appeal and the suppliers of data mining technology are not shy when it comes to advertising
- 4. a. What are Business intelligence tools?
Answer: Business intelligence tools are a type of application software designed to retrieve, analyze, transform and report data for business intelligence. The tools generally read data that have been previously stored, often, though not necessarily, in a data warehouse or data mart.
Types of business intelligence tools
- Differentiate between tools supporting insight creation capability and those supporting presentation capability
Answer: The volume of customer data that is available to organisations continues to grow. Executives need to think beyond the issue of how to handle the volume of data and address the critical question of how to turn it into insight and use it to drive value. We know from the assessment of customer management capabilities in hundreds of organisations that few have optimised the value they can create from the customer data they already have, let alone the enterprise-wide or big data.
- 5. Market research is a significant element of marketing since it is responsible for studying the customer and fulfilling their needs. Explain Market Models based on the concept of Business intelligence.
Answer: Business intelligence (BI) is the set of techniques and tools for the transformation of raw data into meaningful and useful information for business analysis purposes. BI technologies are capable of handling large amounts of unstructured data to help identify, develop and otherwise create new strategic business opportunities. The goal of BI is to allow for the easy interpretation of these large volumes of data. Identifying new opportunities and implementing an effective strategy based on insights can provide businesses with a competitive market advantage and long-term stability.
- 6. Explore the benefits of cloud computing
Answer: Simply put, cloud computing is computing based on the internet. Where in the past, people would run applications or programs from software downloaded on a physical computer or server in their building, cloud computing allows people access the same kinds of applications through the internet. It is a solution growing in popularity, especially amongst SMEs. The CRN predicts that by 2014, small businesses will spend almost $100 billion on cloud
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
or
call us at : 08263069601