The next thing you know about something called Business Intelligence and you'll notice that some of
these phrases seem to overlap because when we talk about databases we talked about data warehouses data
mining and how data mining is getting relevant information out of all of this data that organizations
are accumulating.
And in fact this is also exactly what business intelligence is.
So data mining and business intelligence they're kind of like two phrases that refer to the same thing.
And also there's some slight differentiation.
Distinguish you know there's a little a little bit of a distinction between the two phrases.
So invent diagrams right.
So here's a diagram.
And by the way I've got an ice pack on my shoulder and I have to keep it there which is why I'm wearing
a t shirt and my shoulders like this.
So this is an example of a then diagram and morbid diagrams.
All right here's one whales fish you know.
And.
And the things they have in common both whales and fish and common things.
Fish don't have in common with whales and things whales do not have in common.
Fish and this is where they have in common.
So if we were to if we were to look at a diagram for data mining and we need to look at a diagram for
business intelligence.
Yeah there's a lot of overlap between the two.
And there's also some stock in each of them that's different.
So data mining just means like digging into data to find information find valuable information and business
intelligence refers to also doing math.
But in addition with business intelligence it's kind of like trying to discover what is the business
know what's right.
How does a business know what it knows.
And so business intelligence is kind of like out of line.
You get all of his data and you want to be able to make sense of it and data mining will be used for
business intelligence.
And and it's what the organization is does a business know no is right.
That's business intelligence.
And so if you go to Google you look for business intelligence you'll see some of the main players in
the field like SJS is a big player in the field Tablo software which we've also looked at already is
another big player in the field.
And if you scroll down here you know you could see some other recognizable names or Kolin we talked
about databases right.
Oracle has business intelligence tools and technology and Microsoft which does sequel server also has
business tools and technology and as HP.
Definitely I've heard of them before.
Business intelligence.
And so yeah.
What else is there to say about it.
It's really about let's look at all the information and data that our organization captures and collects
or doesn't capture and then how do we capture and then how do we know what we know as a business or
in our organization and then what we do with all that information which we now know.
So the first step is like let's look at what we know.
Let's look at you know which is basically what data are we capturing.
Let's look at what we could know which is what data.
We've not yet started capturing once we have all that data.
Can we start to take that data and turn it into information or turn it into intelligence.
And and so this software is here you know Tablo as a as Oracle Microsoft as HP will allow you to take
your data and turn it into you know more meaningful information.
And so yeah that's kind of what that's the business intelligence that's what it's all about.
And and there's a there's a variety of different tools out there which we're going to talk about.
Second different information systems within organizations like TPM system CRM systems and those systems
capture data.
Any time a system is capturing data that data can be fed into what the organization knows and then you
know business intelligence software could be used to find you know find out some interesting information.
And so there's a lot of like some of the trends like here you see the top trends in business intelligence
and one of the one of the top trends if we go follow this.
You know it's a little preview we'll be forecasting and predictive analytics.
Right.
So no one's going to be coming in based on what we've seen in the past right based and what we're seeing
currently based on the historical data and current data can we forecast and predict what's going to
be happening.
And so that that's kind of a big thing with business intelligence and that is you know there's other
trends to see if you want to read more about this.
You know and again this kind of gets down to trends you know.
And so any type of data that you could capture and then start applying towards your business would be
a you know viable that right.
Any data is viable data.
That's our goal or could be applicable to developing more intelligence for the organization.
And you know even like Google Trends find some really interesting information.
So if you go to like top charts and this is one of the assignments you see what people are searching
for and where is it that we see like here we go.
So like we keep comparing like auto vehicles right.
And so this might be if you're one of these car companies you know you might be interested in seeing
how people are searching for you versus other people other other competitors other car companies right
and you can see people are searching for GMC.
People are searching a lot for Honda and you know Toyota is lower and BMW is in the middle where Mercedes.
All right.
Yes even lower.
So that's kind of interesting and just to see how that's changed over time.
So yeah the main thing you need to take away from this video is understanding that there's this concept
out there business intelligence and there's that phrase and basically Business Intelligence is a business
needing to be intelligent about what it knows what kind of data is it capturing what other data could
it capture.
And once they have that data we turn that data into information or intelligence so that we can make
better decisions and that might include doing things like predictive forecasting from analytics.
And you know trying to figure out what's going to happen in the future.
So it's a really a big challenge.
Also I will say this about business intelligence it's a really big challenge for an organization to
know what it knows.
How does an organization know what does and how it retains that knowledge and make that knowledge accessible
and so that would be a really great description of business intelligence right there.
It's really challenging for an organization of business to know what it knows and to retrain and retain
that knowledge and then also make it accessible because in a large organization people are coming and
going.
Right.
You're hiring new people you're letting people go or people are dying or people are retiring or people
are being hired away.
And how do you retreat retain retain the knowledge that they've brought to the organization and how
do you access it.
How do you know it's there.
And so some large organizations have thousands and thousands and thousands of employees.
And so if there's one best practice that some people are using to other people give them as practice
if there's some people within an organization have an expertise in this one area does everybody an organization
know that that person is there that expertise and that person accessible.
And then you know so that's kind of like you know like if I write letters for customers are those letters
available for everybody in the organization to access and change and adapt to other customers.
Or if I create presentations to describe to them our products look everybody have access to those presentations
and be able to build on them and how easily can they access that information.
So you can see it's kind of a big deal business intelligence.
So we're be talking about some different systems which apply in business you look in the textbook.
There's actually a whole bunch of them right but I just pulled out the ones which I think are the most
interesting.
And so these different systems also are part of business intelligence right capturing data using data
turning that information intelligence so that we get to act more intelligently as a business as an organization.
Quite frankly I don't see how the businesses ever get started nor continue to run.
It's overwhelming and daunting just to think about like the amount of infrastructure to build an organization
even if you're just starting simple mom and pop shop by keeping track of your sandals keeping track
of stuff for taxes paying your bills paying rent.
It's a lot of work.
So much less like let's implement a customer relationship management software learning how to use that
software and then actually you know effectively use it.
That's that's why organizations are big.
They'd be like one person or many person people in charge of just doing something right take away from
the video business intelligence.
How does an organization know what it knows how to access that data.
Is there other data out there that it can access.
And how is that retreat retain that knowledge and keep it accessible and turn that data that it captures
into information intelligence.
Right.
How can I do that most effectively.
A lot of times we're getting down to data warehouses and data mining you know for for this to occur.
But yet that we're that's what it is.
As business intelligence that's the takeaway from this.
You know you know that you learned in our day business in Golden's.