Chapter 12: Analytics and IS Flashcards by Sara P

What are the 5 sources of data growth?

1)Financial
2)Scientific advances
3)communications
4)Health care services
5)Machine (data generating devices)

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Why are businesses data driven?

They rely on evidence/data rather than intuition and personal experience when making business decisions

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What is analytics?

Process of acquiring, analyzing, publishing data with an objective of discovering and revealing patterns in data that will inform an individual

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What are the 3 analytics activities?

1)Acquire
2)Analyze
3)Publish

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What is analytics IS?

IS that support the 3 analytics activities

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What are the 2 objectives of the analytics process?

1)Inform (effectiveness)
2)Staying within time/cost constraints (efficiency)

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What does the inform objective of the analytics process include? (3)

1)Descriptive
2)Predictive
3)prescriptive

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What are the characteristics of hardware of an analytics IS?

Servers must be scanable, can provide control options (often cloud), analytics server

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What are the characteristics of software of an analytics IS?

differ by activity, analyze and publish software increasely ez to use, support each of the 3 activities in analytics process

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What are the characteristics of data of an analytics IS?

From operational sources and external sources

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What is Online analytical processing ? (OLAP)

Data stored in data warehouse

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What is Online transactional processing (OLTP) ?

operational databases

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What are the characteristics of people of an analytics IS?

Informing differences based on differences in knowledge, education andn experience. DIfferneces promote collaboration

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What are the key attributes of analytics IS? (4)

1)Systems are scalable
2)Ez to use (opportunity for self service)
3)Collaboration skills/user knowledge (informing is limited by this)
4)Data warehouse dependency

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What is a data warehouse?

Set of databases designed to support decision making in organization

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How does analytics IS support the acquiring activity ?

Gain access to data, extracting it and putting it into a data warehouse

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What are the 4 subactivities of the acquiring activity?

1)Obtain data
2)Cleanse/clean data
3)Organize and relate data
4)Catalog data and store it

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How does analytics IS support the analyzing activity, for the 3 types?

1)Descriptive: Recently, frequently, money (RFM) and Online analytical processing (OLAP)
2)Predictive: Regression, MBA, text mining
3)Prescriptive: machine learning, linear programming

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How does analytics IS support the publishing activity ? (3)

1)Visualizations
2)Self serve
3)Digital dasboard

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What is the most common data for analytics processing?

Operational data

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How do you obtain data?

From several source (operational, DBS, social data, purchased data, employee knowledge) for a data warehouse

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What is the analyzing activity?

Methodically break a thing down to examine its details in order to discover/reveal its essential features (patterns)

How does analytics IS support the publishing activity? (4)

With 4 basic operations:
1)Sorting
2)Filtering
3)Grouping
4)Calculating

What is OLAP (Online analytical processing) slice and dice?

Slicing and dicing uses same basic analysis operations as sorting, groupijng, filtering, calculating but repeated to reanalyze data

How do you do descriptive analytics?

Apply simple operations to reveal patterns in data

What is regression?

predictive technique, measures effect of a set of variables on another variable

What is Market basket analysis (MBA)?

Type of association analysis; show products that customer tend to buy together

What is cross-selling?

selling customer items in addition to those they request

What is text mining?

Extracts insights from unstructured data sources (textual documents) Generates sentiment analysis

What is sentiment analysis?

Classification of opinions about a business, product or service

What is the goal of prescriptive analysis?

Help decison maker to understand what is going on, what outcomes are more likely to happen and make best decisions

What does normative do?

Tells the best course of action

What is linear programming?

Math modeling technique to find best course of action when variables are linear

What is visualization?

Image/diagram that communicates data pattern in highly readable format

What ara some examples of business processes being suported by analytics? (4)

1)machine maintenance 2)Health planning 3)On-line sales 4)Internet search

What is bid data analytics?

use of advanced analytics technology on large, diverse sets that include structure, semi-structured and unstructured data

What is big data?

Descriptive data collections that are very huge volume, rapid velocity and great variety (formats)

What are the 5 big data solutions?

1)Data mining 2)NoSQL 3)MapReduce 4)Hadoop 5)In-Memory (SAP HANA)

What is data mining?

database, procedures: analysis of Big data datasets to discover patterns (regression, MBA, text mining)

What is NoSQL?

nonrelational database: supports very high processing rates on simple/unstructured data across many servers

What is MapReduce?

Software technology for analyzing large amounts of data on thousands of computers workign in parallel (batch of data broken into pieces)

What is Hadoop?

Scalable open source software framework that stores/analyzes Big data on distributed computers

What does SAP HANA/in memory processing do ?

SAP HANA stores and analyzes data in a single computersystem. Uses “massive” RAM to store the entire database in memory

What are the 4 processes supported by Big data analytics IS?

1)Continuous auditing 2)Urban services 3)Counterterrorism 4)Cancer treatment

What are the 2 problems of an anlytics IS?

1)Data problems 2)People problems

What does data problems include? (3)

1)Distry (problematic) data and missing data 2)Data not integrated (info silos) 3)Wrong granularity (lvl of deatails)

What are data problems?

Operational/purchased data have problems that inhibit their usefulness for business intelligence

What are the 3 types of people problems?

1)users 2)Analysts 3)Leaders

What are the users problems? (5)

1)Resistance 2)sophisticated viz may hide meaningless results 3)Underestimate cost of reports 4)Mistakes 5)Differing interprelations of results

What are the 5 analysts problems?

1)No stopping point 2)Asking wrong questions 3)Not involving users 4)Too much trust in analysis, not skeptical 5)Biases

What are the 4 leader problems?

1)Failling to specify scope 2)Inadequate funding 3)Limited statistical understanding 4)Overselling results

How does SAP do analytics?

SAP consolidates operational data in an OLTP database ; can write program code to accomplish specific analytics tasks that SAP doesnt provide

What are 3 new IS that will affect analytics processes ?

1)Augmented analytics 2)Digital Twins (digital replica of object using reat-time data, digital counterpart) 3)Privacy concerns (proper acquisition/analysis of personal data)

Why are the 3 reasons analytics are important for business?

1)Helps decison making 2)Supports strategizing 3)Optimizes business processes