65)Describe the three major subsets of the Analytics Focused Software Developers portion of the analytics Ecosystem Ar Reporting/Descriptive Analytics- Includes tools is enabled by and available from the Middleware industry players and unique capabilities offered by focused providers Predictive Analytics-a rapidly growing area that includes a variety of statistical packages Prescriptive Analytics- Software providers in this category offer modeling tools and algorithms for optimization of operations usually called management science/operations research sortware Diff: 3 Page Ref: 41-42 66) Business applications can be programmed to act on what real-time BI systems discover Describe two approaches to the implementation of real-time BI Answer: One approach to real-time bI uses the dw model of trad itional BI systems. In this case, products from innovative BI platform providers provide a service-oriented, near-real-time solution that populates the dw much faster than the typical nightly extract/transfer/load(EtL) batch update does A second approach, commonly called business activity management (BAM), is adopted by pure play BAM and or hybrid BAM-middleware providers(such as Savvion, Iteration Software Vitria, webMethods, Quantive, Tibco, or Vineyard Software). It bypasses the dw entirely and uses Web services or other monitoring means to discover key business events. These software monitors(or intelligent agents )can be placed on a separate server in the network or on the transactional application databases themselves, and they can use event-and process-based approaches to proactively and intelligently measure and monitor operational processes Diff: 3 Page Ref: 2 67) List and describe three levels or categories of analytics that are most often viewed as sequential and independent, but also occasionally seen as overlapping newel Descriptive or reporting analytics refers to knowing what is happening in the organization and understand ing some underlying trends and causes of such occurrences Predictive analytics aims to determine what is likely to happen in the future. This analysis is based on statistical techniques as well as other more recently developed techniques that fall under the general category of data mining Prescriptive analytics recognizes what is going on as well as the likely forecast and makes decisions to achieve the best performance possible Diff: 3 Page Ref: 24-27 Copyright C 2018 Pearson Education, Inc10 Copyright © 2018 Pearson Education, Inc. 65) Describe the three major subsets of the Analytics Focused Software Developers portion of the Analytics Ecosystem. Answer: • Reporting/Descriptive Analytics — Includes tools is enabled by and available from the Middleware industry players and unique capabilities offered by focused providers. • Predictive Analytics — a rapidly growing area that includes a variety of statistical packages. • Prescriptive Analytics — Software providers in this category offer modeling tools and algorithms for optimization of operations usually called management science/operations research software. Diff: 3 Page Ref: 41-42 66) Business applications can be programmed to act on what real-time BI systems discover. Describe two approaches to the implementation of real-time BI. Answer: • One approach to real-time BI uses the DW model of traditional BI systems. In this case, products from innovative BI platform providers provide a service-oriented, near–real-time solution that populates the DW much faster than the typical nightly extract/transfer/load (ETL) batch update does. • A second approach, commonly called business activity management (BAM), is adopted by pure play BAM and or hybrid BAM-middleware providers (such as Savvion, Iteration Software, Vitria, webMethods, Quantive, Tibco, or Vineyard Software). It bypasses the DW entirely and uses Web services or other monitoring means to discover key business events. These software monitors (or intelligent agents) can be placed on a separate server in the network or on the transactional application databases themselves, and they can use event- and process-based approaches to proactively and intelligently measure and monitor operational processes. Diff: 3 Page Ref: 21 67) List and describe three levels or categories of analytics that are most often viewed as sequential and independent, but also occasionally seen as overlapping. Answer: • Descriptive or reporting analytics refers to knowing what is happening in the organization and understanding some underlying trends and causes of such occurrences. • Predictive analytics aims to determine what is likely to happen in the future. This analysis is based on statistical techniques as well as other more recently developed techniques that fall under the general category of data mining. • Prescriptive analytics recognizes what is going on as well as the likely forecast and makes decisions to achieve the best performance possible. Diff: 3 Page Ref: 24-27