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bus 237 > ch8 > Flashcards

ch8 Flashcards

1
Q

2 managerial keys

A

decision making between alternatives and fast decision making

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2
Q

rational managing (5)

A 
figure out what the problem is by asking the right questions 
get all the relevant info 
talk to all parties involved 
weigh all factors 
choose the most optimal solution
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3
Q

decision making steps (5)

A 
get intelligence 
alternative formulation 
choice 
implementation 
review
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4
Q

3 factors to decision making

A

data
info
knowledge

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5
Q

problematic data (4)

A

wrong granularity
inconsistent data
nonintegrated data
dirty data because of nature of the business

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6
Q

what does OLTP stand for

A

online transaction processing

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7
Q

what does OLTP do

A

collects data and processes transactions

backbone of functional, cross functional, inter-organizational systems

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8
Q

2 types of transaction processing

A

real time and batch

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9
Q

what does OLAP stand for

A

online analytical processing

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10
Q

what does OLAP do

A

improves OLTP and does aritmitic functions

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11
Q

characteristics of data as a asset 4

A

reusable
low cost
can improve revenue and decisions
lower costs

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12
Q

what does BI stand for

A

business intelligence

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13
Q

what does BI do

A

gives information to improve business decision making

makes sure that the info is given to the right user

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14
Q

what are the primary BI systems 4

A

reporting systems
data mining systems
knowledge management systems
expert systems

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15
Q

what is a data wharhouse

A

collects and stores data from other sources

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16
Q

data warehouse things it does 5

A 
prepares data for BI processing 
cleans the data 
catalogs the data 
obtains the data 
organizes and relates the data
17
Q

what is a data mart

A

a smaller data warehouse for particular needs

18
Q

what is data mining

A

finding patterns and relationships in data to make predictions

19
Q

what is unsupervised mining

A

no model or hypotheses is made before the analysis instead hypothesis is made after to explain the results

20
Q

what is supervised data mining

A
  • hypothesis and a model is made before the analysis

- stats are used to estimate the parameters of the model

21
Q

what are the three V’s in data mining

A

volume
velocity
variety

22
Q

what is information overload

A

a lot of irrelevant info

23
Q

Granularity

A

its the level of detail in data

24
Q

clickstream data

A

e commerce data that describes a customers clicking behaviour

25
Q

what does DSS stand for

A

decision support systems

26
Q

what does dss do

A

it makes data collected by OLTP useful for decision making

27
Q

what is drill down

A

further dividing data into more detail

28
Q

data resource challenge

A

when OLTP data isn’t used for decision making

29
Q

what does GDSS stand for

A

group decision support system

30
Q

what does GDSS do

A

its a application that allows more than one individual to make a decision

31
Q

market-basket analysis

A

its a data mining technique that determines sales patterns and shows what customers buy together

32
Q

knowladge management system

A

retrieves a organizations knowledge

33
Q

expert systems

A

systems created by interviewing experts and using their knowledge

34
Q

what is RFM analysis

A

ranking customers based on their purchasing patterns

35
Q

what is metadata

A

data that describes data

36
Q

what is cluster mining

A

identifying groups that have similar data characteristics

37
Q

what is lift

A

its the ratio of confidence to the base probability to buying the item

38
Q

what is big data

A

term refers to a large volume and variety of data over a period in time

39
Q

what does a OLAP report have

A

measurements and dimensions

bus 237 (12 decks)

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