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Sem 5 Prep
← BI & Data ScienceWhat business intelligence and data science are

Formulas for this chapter

Mean of a column

mean = SUM(values) / n Excel: =AVERAGE(range)

Turning raw data into information, the second rung of the DIKW ladder. Always check the answer lies between the smallest and largest values.

SUM(values)
Total of every observation
n
Number of observations

Growth and uplift percentage

growth % = (later - earlier) / earlier x 100

Comparing two periods or two groups. The denominator is always the figure you are comparing against; swapping it changes the answer.

later
Value of the newer period or the group being described
earlier
Value of the base period or the reference group
Step 2 of 25
The real wordsTheory

Business intelligence, defined

Business intelligenceA systematic process of transforming raw data into meaningful information and actionable insights that enable managers to make better strategic and operational decisions.

The course outline says the same thing at more length: BI is a set of processes, architectures and technologies that convert raw data into meaningful information which drives profitable business actions.

Note what is in that definition. Not a tool. A process, plus the architecture that carries it, plus the technology that runs it.

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