Business intelligence Week 1
Create a discussion thread (with your name) and answer the following question:
Discussion 2 (Chapter 2): Discuss the process that generates the power of AI and discuss the differences between machine learning and deep learning.
There must be at least one APA formatted reference (and APA in-text citation) to support the thoughts in the post. Do not use direct quotes, rather rephrase the author’s words and continue to use in-text citations.
Chapter 2 Slides
Opening Vignette
INRIX
Introduction to AI
AI is concerned with two basic ideas: (1) the study of human thought processes (to
understand what intelligence is) and (2) the representation and duplication of those
thought processes in machines (e.g., computers, robots). That is, the machines are
expected to have humanlike thought processes.
Goals
Drivers
Benefits
Examples of AI at work
Limitations of AI
Three flavors of AI
Assisted
Autonomous
Augmented
Content of
Intelligence
Capabilities of
Intelligence
Comparing AI
to Human
Intelligence
Intelligent Agent
Machine Learning
Machine and
Computer Vision
Robotics
NLP
Chatbots
Issues and Factors in using AI for decision making
AI Support of the Decision-Making process
Problem Identification
Generating of finding alternative solutions
Selecting a solution
Implementing solution
Automated decision making
Accounting
Examples in book
AI in big accounting companies
Accounting applications small firms
Financial Services
Banking
Customer Recognition
Human Resource Management (HRM)
Talent Acquisition
Chatbots
Marketing
Personalized marketing
Review the Chapter highlights
Review the key terms
Complete the weekly homework Chapter 1 Slides
Opening Vignette
KONE minimize downtime and users suffering
Solution IBM Watson IoT Cloud Platform minimized downtime and shortened repair time
Changing business environments and evolving needs for decision support and
analytics
Big-bet, high-risk decisions.
Cross-cutting decisions, which are repetitive but high risk that require group work
(Chapter 11).
Ad hoc decisions that arise episodically.
Delegated decisions to individuals or small groups.
Four step process
1. Define the problem (i.e., a decision situation that may deal with some difficulty
or with an opportunity).
2. Construct a model that describes the real-world problem.
3. Identify possible solutions to the modeled problem and evaluate the solutions.
4. Compare, choose, and recommend a potential solution to the problem
Other examples Quain (2018)- 7 step process
Technology
Government
Political
Economic
Sociological and psychological
Environmental
Organizations and industries use analytics to develop reports do make the best
decisions
Timely
Proactive
Predictive
Group Communication and Collaboration
Improved data management
Managing big data
Analytical support
Overcoming cognitive limits in processing and storing information
Knowledge management
Anywhere and anytime support
Three major phases
Intelligence
Design
Choice
Data are not available. As a result, the model is made with and relies on potentially
inaccurate estimates.
Obtaining data may be expensive.
Data may not be accurate or precise enough.
Data estimation is often subjective.
Data may be insecure.
Important data that influence the results may be qualitative (soft).
There may be too many data (i.e., information overload).
Outcomes (or results) may occur over an extended period. As a result, revenues,
expenses, and profits will be recorded at different points in time. To overcome this
difficulty, a present-value approach can be used if the results are quantifiable.
It is assumed that future data will be similar to historical data. If this is not the case, the
nature of the change has to be predicted and included in the analysis
Problem
Classification
Decomposition
Ownership
Design
Models
Choice
Implementation
Degree of Structuredness
Types of Control
Decision Support Matrix
Computer Support for
Structured, Unstructured,
Semistructured Decisions
Data management subsystem
Model base
MBMS
Modeling language
Model directory
Model execution, integration, and command processor
Natural language input
Examples
Price lookups: Price 64GB iPhone X.
Currency conversions: 10 US dollars in euros.
Sports scores and game times: Just enter the name of a team (NYC Giants), and Google
SMS will send the most recent games score and the date and time of the next match.
Support any of the other subsystems or act as an independent component. It
provides intelligence to augment the decision makers own or to help understand a
users query so as to provide a consistent answer.
Definitions of BI
History of BI
Architecture of BI
Transaction processing vs. analytic processing
A center can demonstrate how BI is clearly linked to strategy and execution of strategy.
A center can serve to encourage interaction between the potential business user
communities and the IS organization.
A center can serve as a repository and disseminator of best BI practices between and
among the different lines of business.
Standards of excellence in BI practices can be advocated and encouraged through-out
the company.
The IS organization can learn a great deal through interaction with the user
communities, such as knowledge about the variety of types of analytical tools that are
needed.
The business user community and IS organization can better understand why the DW
platform must be flexible enough to provide for changing business requirements.
The center can help important stakeholders like high-level executives see how BI can
play an important role
the process of developing actionable decisions or recommendations for actions
based on insights generated from historical data.
Big Data refers to data that cannot be stored in a single storage unit. Big Data
typically refers to data that come in many different forms: structured, un-structured,
in a stream, and so forth.
Sports
Business Office
Heathcare
Retail value chain
AI is based on theories from several scientific fields, and it encompasses a wide
collection of technologies and applications. So, it may be beneficial to look at some
of the characteristics of AI in order to understand what it is. The major goal of AI is
to create intelligent machines that can do tasks currently done by people. Ideally,
these tasks include reasoning, thinking, learning, and problem solving.
Benefits of AI
Significant reduction in the cost of performing work. This reduction continues over time
while the cost of doing the same work manually increases with time.
Work can be performed much faster.
Work is consistent in general, more consistent than human work.
Increased productivity and profitability as well as a competitive advantage are the major
drivers of AI.
Differences between Analytics and AI
Why combine intelligent systems
Big data empowers AI technologies
Review the Chapter highlights
Review the key terms
Complete the weekly homework
