“Big data” is a term that encompasses large volumes of diverse sets of structured and unstructured data. Aggregated information is so complex and immense that it’s tough to process using conventional methods. In the world of big data, storing and accessing enormous amounts of data is based on three factors: the volume or share of data; the speed or velocity at which it’s created and collected; and the scope or variety of the information — from structured numeric data to unstructured emails, videos, text documents and financial transactions.
Professionals use data mining processes to retrieve data and convert it into functional and helpful information and insights that a business can use. Business intelligence (BI) is an assortment of techniques and applications used to recast data, and professionals can use BI tools to guide informed business decisions.
If you’re interested in business systems analysis, database design, data warehousing and data mining, an online Master of Business Administration (MBA) in Business Systems and Analytics from La Salle University may be right for you. This program can help prepare you for analyst and leadership roles in equity research, marketing, business intelligence, supply chains, business processes and more.
The Centerpiece of Business
Data warehousing is a management system that stores large amounts of historical and current data from various sources. After holding the data, it can later process and analyze it. When businesses store all their data in one place, they can use online analytical processing (OLAP) to handle complex queries and find the relationship between one data set and another.
To this end, modern business professionals understand that data warehousing is the centerpiece of information storage in BI. Data warehousing systems can organize, summarize, transform and integrate the data, which makes information straightforward to analyze.
How Data Management Influences Business Intelligence
While data warehousing, data mining and business intelligence are different, they do work together. Data mining translates unstructured and raw data and turns those complex datasets into information about current trends. BI tools can take that information and suggest a path to capitalize on those trends. In the modern age, companies use data mining, data warehousing and BI tools to save time while efficiently accessing essential and accurate information. By using artificial intelligence (AI), machine learning, deep learning, and cloud-based data lakes, companies are finding a beneficial relationship between BI and business analytics.
Traditional databases handle transactions, but data warehouses simplify analytical processes. Managing large data sets is vital for businesses, and BI requires optimal data management performance. If professionals use poorly organized data, their decisions will be ineffective or flawed. The benefits of an effective BI program directly relate to the quality and preparation of the data. If the information pulled is in good condition, business leaders can optimally utilize the outcome of the BI requirements.
How an MBA Can Help Professionals Navigate Business Systems and Analytics
Learning about business systems and analytics in a flexible and convenient online format can help business professionals maximize opportunities for success. La Salle University’s online MBA program stresses practical experience, theoretical knowledge and shared ideas. The program offers students a relevant learning experience with real-world business systems and data analytics applications using the latest tools and technologies. As a result, students will continue developing skills and gaining knowledge they can apply to the workplace and their career.