Business Intelligence and Knowledge Management Systems
The main objective of this course is to elaborate how Business Intelligence (BI) as a knowledge management tool could help in providing professional services to the financial sector. The Business Intelligence (BI) solution could be a competitive advantage if they are able to exploit the Business Intelligence (BI) tools and technology such as Data Warehouse, Data Mining, On-Line Analytical Processing (OLAP) and Extraction Transformation Load (ETL).
The viability and success of modern enterprises are subject to the increasing dynamic of the economic environment, so they need to adjust rapidly their policies and strategies in order to respond to sophistication of competitors, customers and suppliers, globalization of business, international competition. Perhaps the most critical component for success of the modern enterprise is its ability to take advantage of all available information – both internal and external. Making sense of all this information, gaining value and competitive advantage through represents real challenges for the enterprise. The IT solutions designed to address these challenges have been developed in two different approaches: structured data management (Business Intelligence) and unstructured content management (Knowledge Management). Integrating Business Intelligence and Knowledge Management in new software applications designated not only to store highly structured data and exploit it in real time but also to interpret the results and communicate them to decision factors provides real technological support for Strategic Management. Integrating Business Intelligence and Knowledge Management in order to respond to the challenges the modern enterprise has to deal with represents not only a „new trend” in IT, but a necessity in the emerging knowledge based economy. These hybrid technologies are already widely known in both scientific and practice communities as Competitive Intelligence. In the end of paper, a competitive data warehouse design is proposed, in an attempt to apply business intelligence technologies to economic environment analysis making use of public data sources.
Course Outcomes:
- Identify some of the information tools designed to help decision makers.
- Describe the function of Neural Networks.
- Describe the four levels of expertise that can be applied to unstructured decisions.
- Describe the process known as “Decision Making”.
- List the three steps in decision making.
- Explain the differences between structured and unstructured decisions.