ch 16 vocab Flashcards
big data
a general term used to describe the massive amount of data available to today’s managers; often unstructured and are too big and costly to easily work through use of conventional databases, but new tools are making these massive datasets available for analysis and insight
business intelligence (bi)
a term combining aspects of reporting, data exploration and ad hoc queries, and sophisticated data modeling and analysis
analytics
a term describing the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and face-based management to drive decisions and actions
machine learning
a type of artificial intelligence that leverages massive amounts of data so that computers can improve the accuracy of actions and predictions on their own without additional programming
dynamic pricing
dynamic ticket pricing use takes off, and teams hope it’ll lure fans back into sports stadiums
data
raw facts and figures
information
data presented in context so that it can answer a question or support decision-making
knowledge
insight derived from experience and expertise
database
a single table or a collection of related tables
database management system (dbms)
sometimes referred to as database software; software for creating, maintaining, and manipulating data
structured query language (sql)
a language used to create and manipulate databases
database administrator (dba)
job title focused on directing, performing, or overseeing activities associated with a database or set of databases. these may include (but not necessarily limited to): database design, creation, implementation, maintenance, backup and recovery, policy setting and enforcement, and security
table of file
a list of data, arranged in columns (fields) and rows (records)
column or field
a column in a database table; columns represent each category of data contained in a record (ex: first name, last name, id, number, date of birth)
row or record
a row in a database table; records represent a single instance of whatever the table keeps track of (ex: student, faculty, course title)
relational database
the most common standard for expressing databases, whereby tables (files) are related based on common keys
serverless computing
a type of cloud computing where a third-party vendor manages servers, replication, fault-tolerance, computing scalability, and certain aspects of security, freeing software developers to focus on building “business solutions” and eliminating the need to spend time and resources managing the technology complexity of much of the underlying “it solution”
transaction processing systems (tps)
systems that record a transaction (some form of business-related exchange), such as a cash register sale, atm withdrawal, or product return
transaction
some kind of business exchange
loyalty program
systems that provide rewards and usage incentives, typically in exchange for a method that provides a more detailed tracking and recording of customer activity. in addition to enhancing data collection, loyalty cards can represent a significant switching cost
artificial intelligence
computer software that seeks to reproduce or mimic (perhaps with improvements) human thought, decision-making, or brain functions
data aggregators
firms that collect and resell data
legacy systems
older information systems that are often incompatible with other systems, technologies, and ways of conducting business. incompatible legacy systems can be a major roadblock to turning data into information, and they can inhibit firm agility, holding back operational and strategic initiativesd
data warehouse
a set of databases designed to support decision-making in an organization