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Navigating the Data Deluge: Transforming Data into Actionable Business Intelligence

In today's world, organizations are overwhelmed by data yet often lack actionable insights. This presentation by Mike Pangburn delves into the essence of Business Intelligence (BI) and how it transforms raw data into strategic decision-making. As data storage costs drop and capacities expand, the challenge lies in effectively interpreting this information. From sports teams recruiting players to businesses understanding consumer behavior, this session highlights the significance of data querying, visualization, and advanced analytical techniques. Learn how to leverage BI to turn data into knowledge that drives informed decisions.

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Navigating the Data Deluge: Transforming Data into Actionable Business Intelligence

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Presentation Transcript

  1. Data and BI / Analytics DSC340 Mike Pangburn

  2. Organizations are drowning in data… • … but lacking in information / knowledge • Our ability to collect and store data seems to have surpassed our ability to make sense of it! • Important trends: • Storage capacity continues to rise rapidly • Cost of storage continues to drop Credit Histories Purchase Data Web Click Streams Activity Records ERP Transactions Customer Profiles Location Tracking (GPS)

  3. What is Business Intelligence? A Simple Definition: The applications and technologies transforming Business Data into Action Fact-based decision making typically involves a subset of the following skills/tools… • Data querying / SQL • Database design / data warehousing • Data mining • Decision support systems / simulations • Data visualization / Dashboards

  4. The BI goal BI is about using data to help enterprise users make better business decisions

  5. BI / analytics in all industries • A few examples • Pro Sports • Oakland A’s, New England Patriots – recruiting players • Dallas Cowboys – merchandising • Gambling • Harrah’s  Caesar’s • Quote from Intel manager: • “In God we trust, all others bring data” • Demming

  6. Managers value analytics (survey)

  7. A sample of Oracle BI Customers Consumer Goods High Tech Communications Automotive Finance / Banking Other Media / Energy Aero / Industrial Insurance / Health Life Sciences

  8. 1. Commodity Price Increase (10%) 1. IT Integration (5%) 1. IP (2%) 1. Collaboration & BI (10%) 1. Power Shift (8%) 1. Global Competition (10%) 1. SC Fragmentation (31%) 1. Lack of Global Project Resources (12%) 1. Regulatory Compliance (7%) 1. Developing SCM Talent (7%) Exec survey: What Keeps You Up at Night? BI Very High (5) Severity Low (1) Low (1) Very High (5) Probability / Frequency of Occurrence

  9. Data/ information/ knowledge • Data– a collection of raw value elements or facts used for calculating, reasoning, or measuring. • Information– the result of collecting and organizing data in a way that establishes relationship between data items, which thereby provides context and meaning • Knowledge– the concept of understanding information based on recognized patterns in a way that provides insight to information.

  10. Famous “Beer and Diapers” BI example • Consider the follow convenience-store transactional data (register sales receipts)

  11. Famous “Beer and Diapers” BI example • What did managers learn? That beer & diapers are often bought by men on Thursday and Saturdays. Why? • Data  Information  Knowledge (Insight)

  12. Knowledge Info Increasing Value Data Goal: Convert Data to (Actionable) Knowledge Hard to do in practice – requires commitment/effort.

  13. Consider the 4 posted analytics articles • Company examples: • Target • Harrah’s • Match.com • Dallas Cowboys • What do these companies have in common? • What does this mean to your career?

  14. Compare these examples

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