Description

SESSION JUL – AUG 2024
PROGRAM MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER III
COURSE CODE & NAME DISM304 BUSINESS INTELLIGENCE AND TOOLS

Assignment Set – 1

1. What is “Business Intelligence,” and how does it add value to decision-making within
organizations? Give examples of how Business Intelligence tools are applied across
various industries.
Ans 1.
Using Power BI to Transform Raw Data into Meaningful Visual Insights
Data Import
Power BI is a powerful business intelligence tool developed by Microsoft that allows users to
transform raw data into meaningful visual insights. It enables organizations to create interactive
dashboards and reports, allowing stakeholders to make data-driven decisions effectively. The
process of transforming data in Power BI typically involves four key steps: data import, data
transformation, data visualization, and report sharing.
The first step in using Power BI is importing data from various sources. Power BI supports a
wide range of data sources, including Excel spreadsheets, databases, cloud services, and online
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2. How can you use Power BI to transform raw data into meaningful visual insights?
Describe the process, including data import, transformation, visualization, and report
sharing, and provide a practical example where Power BI could be effectively utilized in
a business scenario.
Ans 2.
Transforming Raw Data into Meaningful Visual Insights with Power BI
Power BI is a versatile business intelligence tool that enables organizations to convert raw data
into meaningful visual insights, which can facilitate informed decision-making. The process of
transforming data in Power BI can be broken down into four key steps: data import,
transformation, visualization, and report sharing. Each step plays a crucial role in transforming
unorganized data into actionable insights.
Step 1: Data Import
The first step in using Power BI is to import data from various sources. Power BI supports a
3. Discuss the core concepts of data mining, along with its benefits and drawbacks.
Provide examples showcasing how data mining has been implemented in different
industries.
Ans 3.
Core Concepts of Data Mining
Data mining is a process used to discover patterns and relationships in large datasets by
applying statistical, machine learning, and artificial intelligence techniques. The core concepts
of data mining revolve around extracting meaningful insights from data, which can be used to
inform decision-making processes. These concepts include data exploration, data
preprocessing, pattern discovery, model evaluation, and the application of discovered patterns.
Data mining is employed to reveal hidden trends, anomalies, and associations in data that might
Assignment Set – 2
4. Explain the various types of business models used in data warehousing. Provide
examples of industries or scenarios where each business model is typically applied.
Ans 4.
Types of Business Models in Data Warehousing
Data warehousing is a system that organizations use to store and analyze large volumes of data.
It provides a unified platform for data integration, allowing for efficient querying and reporting.
Different business models are used in data warehousing, each tailored to meet specific business
needs. The main types of business models in data warehousing include the Enterprise Data
Warehouse (EDW), Data Mart, and Operational Data Store (ODS). Each model has its distinct
5. Highlight the significance of identifying data sources during the data extraction
process. Discuss how accurate and reliable data extraction enhances decision-making and
supports effective data analysis.
Ans 5.
Significance of Identifying Data Sources During Data Extraction
Identifying data sources is a critical step in the data extraction process, as it lays the foundation
for accurate, reliable, and comprehensive data analysis. Data extraction involves gathering data
from various internal and external sources, which can include databases, ERP systems, CRM
systems, web services, spreadsheets, and more. The quality of the extracted data is heavily
dependent on the identification of appropriate data sources, making this process essential for
ensuring effective data analysis and supporting decision-making.
The significance of identifying data sources lies in the ability to collect relevant and complete
6. Examine the strategies necessary for developing a Business Intelligence (BI) solution.
Discuss how having a well-defined strategy and roadmap contributes to the success of a
BI initiative.
Ans 6.
Strategies for Developing a Business Intelligence (BI) Solution
Developing a Business Intelligence (BI) solution requires a well-defined strategy and a
structured approach to ensure successful implementation. BI solutions are designed to provide
organizations with the ability to make data-driven decisions, but the success of these solutions
largely depends on having a clear roadmap, an understanding of the organization’s needs, and
a comprehensive strategy. There are several strategies that are necessary for developing an
effective BI solution, including defining clear objectives, identifying key performance