Ch. 6 & 7 Flashcards
Business Intelligence
Refers to tools and techniques for analyzing and visualizing past data
Advanced analytics
Refers to tools and techniques used to understand why something happened, predict future outcomes, or discover hidden patterns in large data sets
Business Analytics
The use of business intelligence and advanced analytics tools to enhance organizational decision making
Why do organizations need business intelligence and advanced analytics?
To respond to threats and opportunities
Big Data
Effective Planning is continuous
Big Data
A term for when
Characteristics of Big Data
High Volume
-Unprecedented amounts of data
High Variety
- Structured Data: Fit neatly into spreadsheets or databases
- Unstructured Data: Data such as audio and video data
High Velocity
-Rapid processing to maximize value
What are an organizations most valuable resources?
Data and knowledge
Advantages of databases
Minimal data redundancy
Improve data consistency
Increased security
Improve data quality
Improved data accessibility and sharing
Data Model
A map or diagram that represents entities and their relationships
Data Dictionary
A document prepared by database designers to describe the characteristics of all items in a database
Online Transaction Processing (OLTP)
Systems that interact with customers and run a business in real time
Data Warehouses
Integrate data from multiple database and other data sources – Contain historic as well as current data
Data Marts
Subset of a data warehouse, limited in scope
Operational System
Run the business on a current Support managerial decision basis
Information Systems
Support managerial decision making
Online Analytical Processing (OLAP)
Analyzing data in a complex form.
Measures
Facts, numerical data that can be aggregated
Dimensions
Ways to summarize data; Hierarchially arranged to enable drill-down and roll-up
Cubes
A data structure allowing for multiple dimensions to be added to a traditional two-dimensional table
Slicing and Dicing
Analyzing data on a subset of dimensions
Visualization
Refers to the display of complex data relationships using a variety of graphical methods; Allows for a quick analysis
Digital Dashboards
Used to visually present key performance indicators used by management; Highly aggregated form
Visual Analytics
Visualanalyticsisthecombinationofvariousanalysistechniquesand interactive visualization to solve complex problems
Data Mining & types
Discovers “hidden” predictive relationships in the data to better understand customers, product and markets.
Association Discovery
Clustering
Classification
Text and Web content mining
Data Mining Results
Data can be delivered in a variety of ways: Paper reports digital dashboards emails Mobile devices
Machine Learning
A branch of AI that allows systems to learn by identifying meaningful patterns when processing massive amounts of data
Intelligent Systems
Artificial intelligence(AI)is the science of enabling information technologies to simulate human intelligence
Intelligent agent
a program that works int he background to provide some service when a specific event occurs.
Explicit knowledge
Easily codified and documented
Tacit knowledge
Embedded in
people’s minds
Social Network Analysis
Socialnetworkanalysisisatechniquethatmaps
people’s contacts to discover connections or missing links within the organization
Geographic Information Systems
A geographic information system(GIS)is a system for creating, storing, analyzing, and managing geographically referenced information
Foundation Concepts
Entity
-Something you collect data about
Tables
-A collection of related records in a database
Record
-Rows in the table
Attribut
-Column
