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Identify several BI techniques and discuss how they are used

Identify several BI techniques and discuss how they are used

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Answer #1

Top BI techniques used for data analysis are:

  • OLAP provides summarized and multidimensional data view
  • Time series analysis used for determination of changes in trends based on time granulated data
  • Exploratory data analysis uses exploratory analysis which is Qualitative
  • Prescriptive and predictive analytucs for demand forecasting and Qualitative analysis
  • Clustering analysis used for forming cohorts and partition of subgroups in data
  • Statistical analysis provides confidence interval and regression based analysis to understand cause and effects
  • Big data analytics for extreme deepest level of insights and data conversion
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