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Qualification - Higher National Diploma in Business
Unit Number and Name - Unit 14 Business Intelligence
Assignment Title - Business Process Support Mechanisms
Learning Outcomes:
Learning Outcome 1: Discuss business processes and the mechanisms used to support business decision-making.
Ans: Business processes are the structured series of activities that organizations undertake to achieve specific goals, representing the 'how' work gets done. Effective management of these processes is crucial for efficiency, consistency, and achieving organizational objectives. To support informed business decision-making, various mechanisms are employed. These include data analytics tools that provide insights into process performance, identifying bottlenecks and areas for improvement. Business intelligence systems gather and analyze data from across the organization, offering a holistic view for strategic choices. Reporting mechanisms track key performance indicators (KPIs) related to business processes, enabling managers to monitor progress and make data-driven adjustments. Furthermore, process modeling and mapping techniques visually represent workflows, facilitating understanding and identifying potential decision points. Ultimately, a strong understanding of business processes, coupled with robust analytical and reporting mechanisms, empowers organizations to make more effective and strategic decisions.
Learning Outcome 2: Compare the tools and technologies associated with business intelligence functionality
Ans: Comparing the tools and technologies associated with business intelligence (BI) functionality reveals a diverse landscape designed to transform raw data into actionable insights. At the foundational level are data integration and ETL (Extract, Transform, Load) tools, which facilitate the collection, cleaning, and preparation of data from various sources. Data warehousing technologies, including databases and cloud-based solutions, provide centralized repositories for storing and managing this integrated data. For analysis and insight generation, OLAP (Online Analytical Processing) tools enable multidimensional analysis, while data mining tools employ algorithms to discover hidden patterns, trends, and anomalies. Predictive analytics tools utilize historical data to forecast future outcomes. A critical aspect of BI is making insights accessible and understandable. Reporting tools allow for the creation of structured summaries of data, often scheduled for regular distribution. Data visualization tools, which range from basic charting software to sophisticated platforms like Tableau and Power BI, enable users to create interactive dashboards, charts, and graphs, making complex data easier to comprehend. These tools often include features like drill-down capabilities, allowing users to explore data at different levels of detail. Increasingly, AI-powered BI tools are emerging, incorporating natural language processing for querying data and machine learning to automate insights and recommendations. The choice of tools and technologies depends on an organization's specific needs, data volume, technical expertise, and budget, with trends leaning towards cloud-based, integrated platforms offering self-service capabilities and advanced analytics.
Learning Outcome 3: Demonstrate the use of business intelligence tools and technologies
Ans: Demonstrating the use of business intelligence (BI) tools and technologies typically involves showcasing their practical application in transforming raw data into meaningful insights for decision-making. This could begin with using ETL tools to extract sales data from a CRM system and financial data from an accounting platform, then transforming and loading it into a data warehouse. Subsequently, one might utilize OLAP tools to analyze sales performance by region, product category, and time period, identifying key trends and outliers. Data visualization tools would then be employed to create interactive dashboards displaying these insights through charts, graphs, and maps, allowing stakeholders to easily understand sales patterns and identify high-performing areas or underperforming products. Furthermore, demonstrating the use of reporting tools to generate regular sales performance reports for management and potentially using data mining tools to uncover correlations between marketing campaigns and sales uplifts would further illustrate the practical application of BI in driving informed business strategies.
Learning Outcome 4: Discuss the impact of business intelligence tools and technologies for effective decision-making purposes and the legal/regulatory context in which they are used
Ans: Business intelligence (BI) tools and technologies significantly enhance effective decision-making by providing timely, accurate, and insightful information derived from vast amounts of data. They empower organizations to identify trends, understand customer behavior, optimize operations, and predict future outcomes, leading to more strategic and data-driven choices. However, the use of these powerful tools operates within a complex legal and regulatory context. Data privacy laws like GDPR and CCPA dictate how personal data can be collected, processed, and analyzed, requiring organizations to implement robust data governance and security measures. Regulations concerning data security and breach notification also necessitate careful handling of sensitive information. Furthermore, industry-specific regulations, such as those in finance and healthcare, impose additional requirements on data management and reporting. Compliance with these legal and regulatory frameworks is not only mandatory but also crucial for maintaining customer trust and avoiding hefty penalties, shaping how organizations can ethically and legally leverage BI tools for their decision-making processes.
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Assignment Brief
Business processes are pivotal to the operation, functionality and accomplishment of organisational goals. As a collection or set of tasks/activities, business processes ensure that the end goal of delivering a service or product to a customer is accomplished successfully.
Scenario:
Data and information is core to any organization and business process. The necessity of having meaningful information is the key driver for effective decision making and problem-solving. Business intelligence has evolved from technologies such as decision support systems (DSS) to include tools and methods associated with data mining, data integration, data quality and data warehousing in conjunction with other information management systems and applications.
Suppose you are recently recruited as a Business Analyst to a leading Sri Lankan Organisation. As your initial project, you are required to prepare a management report to the Board of Directors including the following details.
Task 1:
Background details of the organization.
Identify and explain different business processes and supporting processes models used at the selected organisation with examples .
Explain data that have been used by the different process models given above.
Differentiation between data classification based on the selected organisation in terms of structured, semi structured and unstructured.
What are the application software used in the given process models.
Evaluate the benefits and drawbacks of using application software as a mechanism for business processing.
Discuss on business intelligence functionalities and the tools and techniques associated with them using specific examples chosen from the selected organization processing.
Discuss on business intelligence functionalities and the tools and techniques associated with them using specific examples chosen from the selected organisation
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Part 2
Compare the tools and technologies associated with the business intelligence functionalities and support available for business decision making at various levels within the organization
• Compare the types of support available for Business Decision making at different levels of the organizational structure
• What are the business intelligence tools commonly used in selected organization? Justify with specific examples of the key features of business intelligence functionality
Part 3
Design a simple business intelligence tool/application with user friendly and functional interfaces that can perform a specific task to support problem solving or decision making at an advanced level the selected organization.
Provide a critical review of the design in terms of how it meets a specific user or business requirement and identify what customisation has been integrated into the design.
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Task 4
Discuss the importance and the impact of business intelligence tools and technologies that can be used by the organization for effective decision making
Describe the legal/ regulatory issues involved in the secure exploitation of business intelligence tools in an organization. What are the legal issues you can identify in the system designed by you.
Identify new Business Intelligence trends and technologies that can be further enhance the operational activities in the selected organisational context
Evaluate how organisations could use business intelligence to extend their target audience and make them more competitive within the market, taking security legislation into consideration
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