Chap 1 Flashcards

1
Q

analytics ecosystem

A

A classification of sectors, technology/ solution providers, and industry participants for analytics.

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2
Q

artificial intelligence (AI)

A

Behavior by a machine that, if performed by a human being, would be called intelligent.

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3
Q

Big Data

A

Data that are characterized by the volume, variety, and velocity that exceed the reach of commonly used hardware environments and/or capabilities of software tools to process.

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4
Q

business intelligence (BI)

A

A conceptual framework for managerial decision support. It combines architecture, databases (or data warehouses), analytical tools, and applications.

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5
Q

choice phase

A

A phase where the actual decision and the commitment to follow a certain course of action are made.

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6
Q

data mining

A

A process that uses statistical, mathematical, artificial intelligence, and machine-learning techniques to extract and identify useful information and subsequent knowledge from large databases.

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7
Q

decision or normative analytics

A

Also called prescriptive analytics, this is a type of analytics modeling that aims at identifying the best possible decision from a large set of alternatives.

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8
Q

descriptive (or reporting) analytics

A

An earlier phase in analytics continuum that deals with describing the data answering the questions of what happened and why did it happen.

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9
Q

design phase

A

This phase involves inventing, developing, and analyzing possible courses of action.

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10
Q

implementation phase

A

A phase that involves putting a recommended solution to work, not necessarily implementing a computer system

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11
Q

intelligence phase

A

A phase where the decision maker examines reality and identifies and defines the problem.

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12
Q

intelligent agent

A

An autonomous, small computer program that acts upon changing environments as directed by stored knowledge.

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13
Q

narrow (weak) AI

A

A form of AI specifically designed to be focused on a narrow task and to seem very intelligent at it.

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14
Q

online analytical processing (OLAP)

A

An information system that enables the user, while at a PC, to query the system, conduct an analysis, and so on. The result is generated in seconds.

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15
Q

online transaction processing (OLTP)

A

A transaction system that is primarily responsible for capturing and storing data related to day-to-day business functions.

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16
Q

predictive analysis

A

Use of tools that help determine the probable future outcome for an event or the likelihood of a situation occurring. These tools also identify relationships and patterns.

17
Q

prescriptive analytics

A

A branch of business analytics that deals with finding the best possible solution alternative for a given problem.

18
Q

strong (general) AI

A

A form of AI capable of all and any cognitive functions that a human may have and is in essence no different from a real human mind.