Terminology and Definition
Terminology
Definition
BI(Business Intelligence) is a set of processes,
architectures, and technologies that convert raw data
into meaningful information that drives profitable
business actions. It is a suite of software and services
to transform data into actionable intelligence and
knowledge.
Business
“BI is looking in the rearview mirror and using
Intelligence (BI) historical data “ - Mark van Rijmenam, CEO /
Founder at BigData-Startups
Business intelligence (BI) – Deals with what
happened in the past and how it happened leading up
to the present moment. It identifies big trends and
patterns without digging too much into the why’s or
predicting what will happen next.
Business analytics is a process used by companies to
measure their business performance. Insights
provided by business analytics help solve present and
future problems. It’s a significant tool that aids in
driving the efficiency, productivity, and ROI of
organizations.
Business
Business analytics (BA) – Deals with the why’s of
Analytics
what happened in the past. It breaks down
contributing factors and causality. It also uses these
why’s to make predictions of what will happen in the
future.
“ BA is looking in front of you to see what is going to
happen”- Mark van Rijmenam, CEO / Founder at
BigData-Startups
A Data Warehousing (DW) is process for collecting
and managing data from varied sources to provide
meaningful business insights. A Data warehouse is
typically used to connect and analyze business data
from heterogeneous sources. The data warehouse is
the core of the BI system which is built for data
analysis and reporting. It is a process of transforming
data into information and making it available to users
Data
Warehousing in a timely manner to make a difference
(DW)
Data warehouses (DW) are centralized data
repositories that integrate data from various
transactional, legacy, or external systems,
applications, and sources. The data warehouse
provides an environment separate from the
operational systems and is completely designed for
decision-support, analytical-reporting, ad-hoc queries,
and data mining.
Data mining is looking for hidden, valid, and
potentially useful patterns in huge data sets. Data
Mining is all about discovering unsuspected/
previously unknown relationships amongst the data.
It is a multi-disciplinary skill that uses machine
learning, statistics, AI and database technology.
Data Mining
Data mining is a collection of technologies, processes
and analytical approaches brought together to
discover insights in business data that can be used to
make better decisions. It combines statistics, artificial
intelligence and machine learning to find patterns,
relationships and anomalies in large data sets.
Reference
Differentiating
Characteristics
https://www.guru99.com/businessintelligence-definition-example.html
Deals with "How" of past
happening.
Prepare data for analyst to
make decisions.
https://www.datapine.com/blog/diffe Consistent set of metrics to
rence-between-business-intelligence- measure past performance
and-analytics/
and guide business planning
https://financesonline.com/what-isbusiness-analytics/
Deals with "Why" of Past
happening.
Investigation of past
business performance to
gain insight and drive
business planning.
Focused on developing new
https://www.datapine.com/blog/diffe insights and understanding
rence-between-business-intelligence- based on statistical methods
and-analytics/
and predictive modeling.
https://www.guru99.com/datawarehousing.html
https://bi-insider.com/portfolioitem/benefits-of-a-data-warehouse/
Stores Structured Data.
Pooling relevant data and
electronic storage (data is
stored in Files and Folder) of
a large amount of
information that are
designed for query and
analysis.
Also called as Business
Intelligence Solution
https://www.guru99.com/datamining-vs-data-warehouse.html
Process of extracting data
https://www.netsuite.com/portal/reso and analyzing unknown
urce/articles/data-warehouse/datadata patterns from large
mining.shtml
data sets
Big Data
Data Lake
Internet of
Things (IOT)
Big Data is a collection of data that is huge in
volume, yet growing exponentially with time. It is a
data with so large size and complexity that none of
traditional data management tools can store it or
process it efficiently. Big data is also a data but with
huge size.
Big Data is a broad term for data sets so large or
complex that traditional data processing applications
are not enough. It encompasses the analysis, capture,
authentication of data, search, exchange, storage,
transfer, visualization, consultation and privacy of
information. The term often refers simply to the use
of predictive analytics or certain other advanced
methods to extract value from data, and rarely to
define a certain size of dataset. Accuracy in Big Data
can lead to more confident decision making.
A Data Lake is a storage repository that can store
large amount of structured, semi-structured, and
unstructured data. It is a place to store every type of
data in its native format with no fixed limits on
account size or file. It offers high data quantity to
increase analytic performance and native integration.
A data lake is a storage repository that holds a vast
amount of raw data in its native format until it is
needed for analytics applications.
Internet of Things (IoT) is a network of physical
objects or people called “things” that are embedded
with software, electronics, network, and sensors that
allows these objects to collect and exchange data. The
goal of IoT is to extend to internet connectivity from
standard devices like computer, mobile, tablet to
relatively dumb devices like a toaster.
Internet of Things (IoT) is a technology in which
every day objects form a Internet network through
which they can communicate with each other. Thus
leaving behind human-to-human or human-tocomputer interaction. It ensures the connectivity to
physical objects rather than traditional connectivity
devices like laptop, desktop and mobiles.
https://www.guru99.com/what-isbig-data.html
Collection of data that is
huge in size and yet
growing exponentially that
enable enhanced insight,
https://www.arimetrics.com/en/digita decision-making, and
l-glossary/big-data
process automation
Store large amount of
structured, semihttps://www.guru99.com/data-lake- structured, and
architecture.html
unstructured data.Helps
storing storing disparate
https://www.techtarget.com/searchda information. Has a flat
tamanagement/definition/data-lake
architecture
https://www.guru99.com/iottutorial.html
https://iotworm.com/what-isinternet-of-things-definition/
Organization Chart
<<Refer next page>>
Network of physical objects
or “things” that are
embedded with software,
electronics, network, and
sensors
ECIO
Data & Strategy
Information and Analytics
Data Analytics
Business Analytics
Business Intelligence
Other Departments…
Data Architecture /
Infrastructure
Data Warehouse
Data Mining
Big Data
Data Lake
Internet of Things (IoT)
Data Governance