List and explain the four components of an intelligent enterprise system

What will be an ideal response?

Answer: DATA STORAGE - Data is stored using operational databases, data warehouses, and other data storage. Data from recurring transactions and operations is stored in an operational database. Data from the operational database and other sources may be loaded into a data warehouse. The data warehouse is a large database that serves as a central location for aggregating and storing an enterprise's data. When an organization uses a data warehouse, data is often transferred from various sources throughout the organization, including the operational database, spreadsheets, and company ecommerce Web sites, into the data warehouse where the data is integrated.

DATA EXTRACTION AND TRANSFER - Data extraction and transfer tools are used to extract data stored in databases (operational databases and data warehouses) and transfer the data into data analysis tools. The operational database that is well suited for storing data is not well suited for data analysis. Thus, it is necessary to transfer the data from the operational database into an analysis tool. The exact steps for data extraction and transfer may differ based upon the intelligence tool used; however, the process is basically the same.

DATA ANALYSIS - Data analysis tools are used to analyze data to identify interrelationships and insights that can be used to create intelligence for better business decisions. The data analysis includes two approaches to BI: shadow data and BI technologies. Data analysis can be performed using statistical, mathematical, financial, and data mining functions.

DATA VISUALIZATION - Visualization tools include user interface applications that display results of the data analysis on the user's computer. For example, shadow data might use a spreadsheet display. A BI technology might display results using OLAP (Online Analytical Processing) cubes that permit the user to view data from various multidimensional perspectives. Tools for visualizing the results in an understandable, user-friendly form can consist of charts, graphs, figures, tables, and cubes. These tools are sometimes combined to create digital dashboards. The digital dashboard is often interactive, permitting the viewer to see the effect of changes in various scenarios, parameters, and variables.