Question

Question : Based on Business Intelligence. Describe and discuss the relationships between data, information and business intelligence.

All of your answers to The question should be simple and short- 400 words or less.  

Identify and describe three specific instances (let’s call them a, b, and c) where data is turned into information at your current job. For each of these three instances, answer the following questions…

1.1a - What data is being collected?   (eg: Customer name, loan amount, hourse worked, blood pressure, home price, etc.)

<Write your answer in this box>

1.2a - What is the source of the data? How is it acquired? (eg: data is collected by a salesperson in person, data is collected on-line through our website, data is aggregated from tax records, etc.)

<Write your answer in this box>

1.3a - How is this data being turned into information? (note: don’t name data and then tell me it’s not being turned into information. Find some data that is being turned into information.)

eg: The data being collected is patient charges for our medical practice. This data is collected through our Electronic Medical Record, which interacts with our billing system. Our office manager parses the data to tell us the revenue earned by each Dr. in the practice.

<Write your answer in this box>

1.4a – Is the information named in the question being used as business intelligence by your organization? If yes- how so? Be specific- what decisions are being made based upon this business intelligence? If no- how do you think it COULD it be used as business intelligence by your organization?

<Write your answer in this box>

1.1b - What data is being collected?   (eg: Customer name, loan amount, hourse worked, blood pressure, home price, etc.)

<Write your answer in this box>

1.2b - What is the source of the data? How is it acquired? (eg: data is collected by a salesperson in person, data is collected on-line through our website, data is aggregated from tax records, etc.)

<Write your answer in this box>

1.3b - How is this data being turned into information? (note: don’t name data and then tell me it’s not being turned into information. Find some data that is being turned into information.)

<Write your answer in this box>

1.4b – Is the information named in question 3 being used as business intelligence by your organization? If yes- how so? Be specific- what decisions are being made based upon this business intelligence? If no- how do you think it COULD it be used as business intelligence by your organization?

<Write your answer in this box>

1.1c - What data is being collected?   (eg: Customer name, loan amount, hours worked, blood pressure, home price, etc.)

<Write your answer in this box>

1.2c - What is the source of the data? How is it acquired? (eg: data is collected by a salesperson in person, data is collected on-line through our website, data is aggregated from tax records, etc.)

<Write your answer in this box>

1.3c - How is this data being turned into information? (note: don’t name data and then tell me it’s not being turned into information. Find some data that is being turned into information.)

<Write your answer in this box>

1.4c – Is the information named in question 3 being used as business intelligence by your organization? If yes- how so? Be specific- what decisions are being made based upon this business intelligence? If no- how do you think it COULD it be used as business intelligence by your organization?

<Write your answer in this box>

All the answers should be based on information systems .

Answer 1

In my curent job I work at a grocery store.

1.1 A - > We collect the following data poitns for our store:

• Customer name and billing amounts
• Fast moving items (items that sell regularly) vs slow moving products
• Customer buying preferences ( What is being bought by a customer)
• Basket data - What items are bought together by customer?
• Customer satisfaction with groecery store services
• Customer location in the city - Are customers coming from nearby area or are we able to attract customers from different locations in city?
• Customer contact details
• PRomotion offers vs Sales i

1.2 A - The data collection is driven in two ways - Manual and automatic. In manual collection, our store representatives take details related to customer location, customer contact number etc. during the physical survey which includes questions related to satisfaction with store services. This data is ultimately fed into an electronic system and stored in a backend datatbase for better records management.

In the automatic system, data points such as customer billing, customer buying preferences, basket data etc. are recorded thru Point of Sales system and then logically categorized in a backend database. Another way of an automatic connected system , is way of web surveys. We trigger surveys (content is similar to physical surveys discussed above) to customer's email ID or phone and they can fill in the details. The details are automatically stored in our databased after a logical seggregation.

1.3 A - > Through the POS we are collecting data on the items that are bought by the customers and interval of buying those items. The buying data thru POS can be used to give us information about customer buying pattern. We have anlaytic tools such as Tableau that parse thru the information collected in database and gives us actionable information such as buying pattern. For example - We will get information about items that are bought together. The items that are generally bought together are referred to as itemset. With this information we can plan our promotions, placement of product etc. in the store in a much better way making sure the customers who are buying just one item buy the other one as well.

1.4 A - > Yes, as touched above, this information is used as business intelligence to plan better placements of our products in the store. For example - The stock of snacks such as potato chips is kept near the bottled soda drinks such as Pepsi or Coke. In our analysis we found that around 45% of the customers buy these items together in our Store. We changed the placement of both items in our store and kept it next to each other, so that anyone buying bottled soda drinks would also observe snakcs (in their eyeline). This led to around 18% more customers buying both items together i.e. now around 63% of the customers buy both items together.

Also, the above information is used to plan promotions to spur buying process. For example - We observed a couple of slow weekdays for business in the store. Generally our in-store promotions are planned on those days to get more customers to the store.