Business Intelligence & Analytics

It shows a hierarchy of components contributing to an organizations intelligence.

•Data comes in the form of raw observations, e.g. temperature, scores, and bits of news.

•Information adds context to data; it is created by analyzing relationships and connections between the data.

•Knowledge is created by using the information for action. Knowledge answers the question "how".

•Wisdom is created through the use of knowledge and through reflection. It is the ultimate level of understanding.

Condensation: Data is summarized. Unnecessary depth is eliminated.

Calculate: Data is analyzed mathematically or statistically.

Contextualization: We know why the data was collected.

Correction: Errors removed.

Categorization: Unit of analysis is known.

Comparison: How does this situation compare to others?

Consequence: What implications does the information have for decisions and actions?

Connection: How does this bit of information relate to others?

Conversation: What do other people think about this information?

A Data Warehouse is a subject-oriented, integrated time-variant, non-volatile collection of data in support of management's decision-making process.