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Unit No 1 General Trends in Business Management
Unit No 1 General Trends in Business Management
Sham Malgikar
Characteristics of a system:
Elements of system:
A major objective of a system is to produce an output that has value to its user.
Whatever the nature of the output (goods, services, or information), it must be in
line with the expectations of the intended user.
Here are a few benefits of system integration and the ways that each helps
overcome the problems caused by disorganised systems.
Automation and Streamlining. ...
Accessibility, Accuracy, and Coordination. ...
Efficiency and Productivity. ...
Cost Efficiency. ...
Availability of New Performance Insights. ...
Scalability. ...
Security.
D.Y. Patil Business School, Pune Prof. Sham Malgikar
• Let us revamp few terms in today’s situation for defining Management word
…….
Request
Strategies
Strategic Level
CEO, MD, CTO, CFO , Directors
Plans Unstructured & Semi Structured Instructions
Problems
Types of Problems:
Semi structured Problems : Half of the symptoms of the problem is known to you
and half is unknown to you . : Ex: Consumers buying behavior pattern :
ENVIRONMENT
Cloud
Internal
Repetitiv
Elements
Internal e Reports
Men
Money
Env
Problem
M
Machine
Material
Input
A
Rules & Query
guidelines N
External
A
Elements Query
Respons
G
Customer e
Vendor
External
E
Competitor
Banks
Govt. Rules
Env
Problem R
Input
Decision
Global
Economy
D E C I S I
GENRALISED MODEL OF DECISION MAKING O N
Characteristics of BI
• Data integrity : Information must be accurate and must conform to business rules.
• Accessible : Easily accessible with intuitive access paths, and responsive for
analysis.
• Credible : Every business factor must have one and only one value.
A Data Warehouse is Built by combining data from multiple diverse sources that
making for the organization, and Data Warehousing is a step-by-step approach for
Many data scientists get their data in raw formats from various sources of data and
particularly in big enterprises, the main sources of data and information are
A data warehouse holds data from multiple sources, including internal databases
and Software (SaaS) platforms. After the data is loaded, it often cleansed,
D.Y. Patil Business School, Pune Prof. Sham Malgikar
transformed, and checked for quality before it is used for analytics reporting, data
A large amount of data in data warehouses comes from numerous sources such
that internal applications like marketing, sales, and finance; customer-facing apps;
and analyzing the data and they also contain large amounts of historical data.
D.Y. Patil Business School, Pune Prof. Sham Malgikar
the market.
intelligence tool of an organization, the data warehouses can find out more
strategies may be depending upon the data stored within the data
warehouses.
5. High response time: Data warehouse has got to be prepared for somewhat
sudden masses and type of queries that
demands a major degree of flexibility and fast latency.
o Data Loading
o Data Access
Data Warehouse applications are designed to support the user’s data requirements,
an example of this is online analytical processing (OLAP). These include functions
such as forecasting, profiling, summary reporting, and trend analysis.
D.Y. Patil Business School, Pune Prof. Sham Malgikar
The architecture of the data warehouse mainly consists of the proper arrangement
of its elements, to build an efficient data warehouse with software and hardware
components. The elements and components may vary based on the requirement of
organizations. All of these depend on the organization’s circumstances.
In the Data Warehouse, the source data comes from different places. They are
External Data: For data gathering, most of the executives and data analysts rely
on information coming from external sources for a numerous amount of the
information they use. They use statistical features associated with their
organization that is brought out by some external sources and department.
Internal Data: In every organization, the consumer keeps their “private”
spreadsheets, reports, client profiles, and generally even department databases.
This is often the interior information, a part that might be helpful in every data
warehouse.
Operational System data: Operational systems are principally meant to run the
business. In each operation system, we periodically take the old data and store it in
achieved files.
Flat files: A flat file is nothing but a text database that stores data in a plain text
format. Flat files generally are text files that have all data processing and structure
markup removed. A flat file contains a table with a single record per line.
2. Data Staging:
After the data is extracted from various sources, now it’s time to prepare the data
files for storing in the data warehouse. The extracted data collected from various
saved in the data warehouse for querying and analysis. The data staging contains
Data Extraction: This stage handles various data sources. Data analysts should
employ suitable techniques for every data source.
Data Transformation: As we all know, information for a knowledge warehouse
comes from many alternative sources. If information extraction for a data
warehouse posture huge challenges, information transformation gifts even
important challenges. We tend to perform many individual tasks as a part of
information transformation. First, we tend to clean the info extracted from every
source of data. Standardization of information elements forms an outsized part of
data transformation. Data transformation contains several kinds of combining
items of information from totally different sources. Information transformation
additionally contains purging supply information that’s not helpful and separating
outsourced records into new mixtures. Once the data transformation performs
ends, we’ve got a set of integrated information that’s clean, standardized, and
summarized.
Data Loading: When we complete the structure and construction of the data
warehouse and go live for the first time, we do the initial loading of the data into
the data warehouse storage. The initial load moves high volumes of data
consuming a considerable amount of time.
Data Mart usually draws data from only a few sources compared to a Data
warehouse. Data marts are small in size and are more flexible compared to a
Data warehouse.
D.Y. Patil Business School, Pune Prof. Sham Malgikar
• Data mining is looking for hidden, valid, and potentially useful patterns in
huge data sets. Data Mining is all about discovering unsuspected/
previously unknown relationships amongst the data.
• The insights derived via Data Mining can be used for marketing, fraud
detection, and scientific discovery, etc.
Why Analytics
• The explosive growth of data from
terabytes to peta bytes.
• Fraud detection
– Which of my customers are likely to be the most loyal, and which are
most likely to leave for a competitor? :
Big Data
• Data science is the study of data analyzing by advance technology (Machine
Learning, Artificial Intelligence, Big data).
• As per IDC (International Data Corporation) report, new data created per
each person in the world per second by 2020 will be 1.7 MB.
• The amount of total data in the world by 2020 will reach around 44
ZettaBytes (44 trillion GigaByte) and 175 ZettaBytes by 2025.
• It is being seen that total volume of data being double every two years.
• Total size growth of data worldwide, year to year as per IDC report is shown
below:
D.Y. Patil Business School, Pune Prof. Sham Malgikar
• Social media: Big data companies like Facebook and google get the data
from whatever activities we perform. Other examples are YouTube, Twitter,
LinkedIn, blogs, slideshare, Instagram, chatter, WordPress, Jive, etc.
• Public Web: This includes data coming from Wikipedia, health care services,
the World Bank, government, weather, traffic, etc.
• Archives: This includes archives of any data like medical records, customer
correspondence, insurance forms, scanned documents, etc.
• Docs: Documentation of any format including HTML, CSV, PDF, XLS, Word,
XML, etc. are the sources of big data.
• Data storage: The various database and file systems which are used to store
the data serve as the source for big data.
• Machine Log Data: Data coming from server, application logs, audit logs,
CDR- call detail records, various mobile apps, mobile location etc.
1. Volume: The volume of data coming from multiple sources is huge. With this
increase in the volume of data it is important for the organizations to reevaluate
their architecture and applications.
• Example: In the year 2016, the estimated global mobile traffic was 6.2
Exabytes(6.2 billion GB) per month. Also, by the year 2020 we will have
almost 40000 ExaBytes of data.
• In Big Data velocity data flows in from sources like machines, networks,
social media, mobile phones etc.
• Example: There are more than 3.5 billion searches per day are made on
Google. Also, FaceBook users are increasing by 22%(Approx.) year by year.
3. Variety:
• Variety is basically the arrival of data from new sources that are both inside
and outside of an enterprise. It can be structured, semi-structured and
unstructured.
• 4. Veracity:
• Example: Data in bulk could create confusion whereas less amount of data
could convey half or Incomplete Information.
D.Y. Patil Business School, Pune Prof. Sham Malgikar
• 5. Value:
• After having the 4 V’s into account there comes one more V which stands for
Value!. The bulk of Data having no Value is of no good to the company,
unless you turn it into something useful.
Machine learning is a subset of AI, which enables the machine to automatically learn
from data, improve performance from past experiences, and make predictions.
Machine learning contains a set of algorithms that work on a huge amount of data. Data is
fed to these algorithms to train them, and on the basis of training, they build the model &
perform a specific task.
Machine Learning is a system that can learn from example through self-
improvement and without being explicitly coded by programmer. The
breakthrough comes with the idea that a machine can singularly learn from
the data (i.e., example) to produce accurate results.
D.Y. Patil Business School, Pune Prof. Sham Malgikar
Machine learning is also used for a variety of task like fraud detection,
predictive maintenance, portfolio optimization, automatize task and so on.
o Image Segmentation:
Supervised Learning algorithms are used in image segmentation. In this process,
image classification is performed on different image data with pre-defined labels.
D.Y. Patil Business School, Pune Prof. Sham Malgikar
o Medical Diagnosis:
Supervised algorithms are also used in the medical field for diagnosis purposes. It is
done by using medical images and past labelled data with labels for disease
conditions. With such a process, the machine can identify a disease for the new
patients.
o Fraud Detection - Supervised Learning classification algorithms are used for
identifying fraud transactions, fraud customers, etc. It is done by using historic data
to identify the patterns that can lead to possible fraud.
o Spam detection - In spam detection & filtering, classification algorithms are used.
These algorithms classify an email as spam or not spam. The spam emails are sent to
the spam folder.
o Speech Recognition - Supervised learning algorithms are also used in speech
recognition. The algorithm is trained with voice data, and various identifications can
be done using the same, such as voice-activated passwords, voice commands, etc.
In unsupervised learning, the models are trained with the data that is neither
classified nor labelled, and the model acts on that data without any supervision.
Reinforcement Learning
Reinforcement learning works on a feedback-based process, in which an AI
agent (A software component) automatically explore its surrounding by hitting
& trail, taking action, learning from experiences, and improving its
performance. Agent gets rewarded for each good action and get punished for each
bad action; hence the goal of reinforcement learning agent is to maximize the
rewards.
Cloud computing
IaaS, PaaS and SaaS are the three most popular types of cloud service offerings.
(They are sometimes referred to as cloud service models or cloud computing service
models.)
Business Challenges
1. Strategic Level wants Legacy data & operational data of the organization in one
scalable repository for the end users.
2. The New IT Infrastructure should be cost effective for implementation of new
System (Infrastructure/Softwares/ Platforms etc)
3. The New System must support multidimensional view and provide knowledge
discovery for analysing the critical problems.
As a Management Consultant Suggest a suitable Solution to Endurance Systems
for their Major Challenges (1,2,3).