Business Intelligence (BI). Class presentation. What is BI ?. Transforms raw data into meaningful and useful information for business purposes. Handles large amounts of information to help identify and develop new opportunities.
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Each measure has a set of labels, or meta-data, associated with it. A dimension is what describes these labels; it provides information about the measure.
A simple example would be a cube that contains a store's sales as a measure, and Date/Time as a dimension. Each Sale has a Date/Time label that describes more about that sale.
Any number of dimensions can be added to the structure such as Store, Cashier, or Customer by adding a foreign key column to the fact table. This allows an analyst to view the measures along any combination of the dimensions.
Makes predictions about future, or otherwise unknown, events.
In business, predictive models exploit patterns found in historical and transactional data to identify risks and opportunities.
One of the most well known applications is credit scoring, which is used throughout financial services. Scoring models process a customer's credit history, loan application, customer data, etc., in order to rank-order individuals by their likelihood of making future credit payments on time.