Question

Role of mathematical model in business intelligence

Answer 1

A business intelligence system provides decision makers with information and knowledge extracted from data, through the application of mathematical models and algorithms. In some instances, this activity may reduce to calculations of totals and percentages, graphically represented by simple histograms

Answer 2

Role of mathematical model in business intelligence is to understand function of systems.

Explanation:

• The mathematical model is an abstract model which uses the language to describe the behavior of the system. The mathematical modeling is classified into the black box or a white box model.

• These models are applied in natural science and engineering disciplines. Such as biology, maths, and chemistry. The mathematical models take many firms including the dynamic systems and present knowledge that is available in a usable form.

• In a black-box model there is no proper information but in a white box model their a set of information available. Fields such as financial management make use of tools such as probability.

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