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STEM Many firms have invested heavily in IT to help them manage their business more effectively and gain a competitive edge. Over the last three decades, large amounts of critical business data have increasingly been stored electronically and this volume is expected to continue to grow considerably in the near future. Despite this wealth of data, many companies have not been able to fully capitalize on its value. This is because information that is implicit in the data is not easy to discern. Advances in the field of business intelligence (BI) and data mining (DM) are helping business managers use their data more effectively and obtain insightful information. BUSINESS ANALYTICS Business analytics software enables organizations to monitor, capture and analyze the vast amounts of data generated by various applications and provide management and staff at all tools with tools necessary to optimize these processes through strategic and tactical decisions. BUSINESS INTELLIGENCE Intelligence is the aptitude to learn, comprehend and counter new or trying situations. It is the skillful use of reason and the capacity to apply knowledge to influence ones environment or to think conceptually. Business intelligence is a set of notions, methods and practices which improve business decisions.

It uses information from multiple sources and applies experience and assumptions that help in understanding accurately the intricacies of business dynamics. The term business intelligence was coined by GARTNER in the late 1980s and defined as a user-centered process that includes accessing and exploring information, analysing this information and developing insight and understanding which leads to improved and informed decision making. Business intelligence enables firms to make calculated business decisions. It involves assembling, accumulating, analyzing and accessing corporate data. For this purpose, it uses a variety of tools, including query and reporting tools, analytical processing tools, data mining and decision support systems. BUSINESS INTELLIGENCE ARCHITECTURE A successful business intelligence has four parts Information architecture Data architecture Technical architecture Product architecture Information architecture The information architecture defines what business application systems are needed to access, report and analyze information to enable business decision making. Data architecture The data architecture defines the data, source systems and framework for transforming data into useful information. Technical architecture The technical architecture defines the technology of the product and infrastructure. Technologies include RDBMS, online analytical processing (OLAP), BI, Extract, Transform, Load (ETL), Enterprise application integration (EAI), Enterprise information interfaces (EII),

networks, Oss and the interfaces, protocols, APIs in the layers within and in between them. Product architecture The product architecture includes the BI software, which are a combination of data capturing tools, analysis and reporting tools, data warehousing tools and data mining tools. Some of the BI and DM Software available in the market are Intelligence Miner by IBM, Enterprise Miner by SAS, Oracle Data Mining by Oracle and SPSS Data Mining by SPSS.