Chapter 1.2: Data Sources, Data Warehousing, and Big Data Flashcards
What are primary data and how is it obtained?
Primary data are data collected directly by an individual or business through planned experimentation or observation
Primary data are obtained by conducting experiments or observations to gather information firsthand.
What are secondary data and how is it obtained?
Secondary data are data that are obtained from existing sources or previously collected data.
Secondary data differ from primary data in that they are not collected directly but are sourced from pre-existing data sets, records, or databases.
Can you provide examples of primary data collection methods?
Examples of primary data collection methods include surveys, experiments, interviews, and direct observations.
What are some examples of secondary data sources?
Secondary data sources can include published research studies, government reports, company records, and public datasets
What are existing data sources?
Existing data sources are sources that provide data that has already been collected and is available for use by the public or researchers.
Where can electronic versions of government publications, company reports, and business journals be found?
Electronic versions of government publications, company reports, and business journals can often be found on the Internet, in library reference sections, or in county courthouse records.
What is a reliable source for demographic data about regions of the United States?
The U.S. Census Bureau’s website at http://www.census.gov is a reliable source for demographic data about regions of the United States.
What are some other websites useful for economic and financial data?
Other useful websites for economic and financial data include the Federal Reserve at http://research.stlouisfed.org/fred2/ and the Bureau of Labor Statistics at http://stats.bls.gov/.
What are some advantages of performing web searches to obtain data?
Web searches for data are cost-effective and time-efficient, making them a convenient option.
How might companies have valuable data sources?
Companies often possess valuable data sources such as employee records, customer information, product data, and financial records.
What are some alternatives to obtaining data from companies directly?
Alternatives include contacting data collection agencies, purchasing subscriptions, or hiring companies specializing in data collection.
What should be considered when assessing the reliability of data from existing sources?
To assess data reliability, it’s important to determine how, when, and where the data were collected.
What is an experimental study?
An experimental study is a research method where data is collected under controlled and monitored conditions, often involving manipulation of variables to test hypotheses.
An example of an experimental study is testing new drugs for disease treatment under controlled and monitored conditions.
What is an observational study?
An observational study is a research method where data is collected by observing and recording natural occurrences without direct manipulation of variables.
An example of an observational study is conducting telephone surveys or exit polls to gather data for predicting voting trends in political elections.
How does data collection in experimental or observational studies compare to obtaining data from public or private sources?
Data collection in experimental or observational studies typically requires more time, effort, and expense compared to obtaining data from existing public or private sources.
What is the variable of interest in a study?
The variable of interest in a study is often called the response variable, and it’s the main variable being investigated.
What are other variables related to the response variable called?
Other variables related to the response variable are typically called factors.
When do we have an experimental study?
An experimental study occurs when researchers can set or manipulate the values of factors related to the response variable.
An example of an experimental study is a pharmaceutical company testing different dosages of a cholesterol-lowering drug on patients to determine the optimal daily dose.
When is a study considered observational?
A study is considered observational when analysts are unable to control the factors of interest, and they observe natural occurrences without manipulation.
An example of an observational study is when doctors ask patients about their diets and look for associations between diet (the factor) and cholesterol levels (the response variable).
What is a survey in the context of research?
A survey is a method of data collection in which people are asked questions about their behaviors, opinions, beliefs, and other characteristics.
An example of a survey is when shoppers at a mall are asked to fill out a questionnaire to provide their opinions about a new bottled water.
What types of characteristics or behaviors are often studied through surveys?
Surveys are used to study a wide range of characteristics and behaviors, including opinions, beliefs, preferences, and more.
In what situations might researchers simply observe the behavior of people?
Researchers might observe people’s behavior in situations like observing shoppers looking at store displays or studying interactions between students and teachers.
What is data warehousing?
Data warehousing is a process of centralized data management and retrieval that aims to create and maintain a central repository for an organization’s data.
What is the primary objective of data warehousing?
The primary objective of data warehousing is to provide a centralized platform for storing and managing an organization’s data for efficient retrieval and analysis.
What is big data?
Big data refers to massive volumes of data, often collected rapidly in real-time and in various formats, requiring quick preliminary analysis for effective business decision-making.
How has the increased use of online purchasing affected data collection for businesses?
With increased online purchasing, businesses are collecting more information about customer transactions, including web pages searched before a purchase, time spent on web pages, and demographic information.
Why do businesses collect and analyze past customer behavior and demographic information?
Businesses collect and analyze past customer behavior and demographic information to predict customer responses to marketing approaches and increase revenues and profits.
What has enabled organizations to integrate various databases into data warehouses?
Advances in data capture, data transmission, and data storage capabilities have enabled organizations to integrate various databases into data warehouses.
