Chapter 3: Technology and Information

Question 1

What are the 4 industrial revolutions?

Answer 1

[1] Mechanization [2]Mass Production [3] Computers and Automation [4] Digital Asset Revolution

Question 2

What is the Digital asset revolution?

Answer 2

Advances in AI, Robotics, 3D printing, autonomous vehicles, biotech and connectivity. Its a development of the 3rd industrial revolution.

Question 3

What are the 12 emerging technologies?

Answer 3

AI, Big Data, Autonomous Vehicles, The cloud, Process Automation, Custom Manufacturing (3D Printing), Connected Devices, Robotics, Social Media, Blockchain, BI Programs and Increased device mobility.

Question 4

Define: Data, Knowledge, Information, Explicit Knowledge and Tacit Knowledge.

Answer 4

Data: A raw fact e.g height , Knowledge: Information in someone’s head ready for use , Information: Data with meaning e.g mean height , Explicit Knowledge: Information thatis captured and searchable , Tacit Knowledge: Intangibles like charisma or people skills.

Question 5

What does the ACCURATE acronym for good information stand for?

Answer 5

Accurate, Complete, Cost Beneficial, User Targeted, Relevant, Authoritative, Timely, Easy (To use).

Question 6

How do data needs vary across an organisation?

Answer 6

Top Directors: Need historical data, forecasts, competitor info all simplified in BI to make decisions.
Middle Managers: Mix of needs between that of directors and operational staff.
Operational Staff: Internal historical data for recording transactions and making simple decisions.
IT makes sure right data goes to right places.

Question 7

What are the 4 choices an IT team has to make?

Answer 7

Configuration, Wired or WIFI or 4G, Local or Cloud, Centralised on Decentralised.

Question 8

What are the configuration options available to IT?

Answer 8

Network Type can be either LAN (Local Area Network needing wires and connections on site) or WAN (Wide Area Network which are combined local networks that should be encrypted or secured to ensure data is not stolen by third parties).

Question 9

Why are wired connections becoming less common?

Answer 9

They are now only needed in high security settings so remote employees can used wireless options in combination with a VPN.

Question 10

What are the advantages and disadvantages of cloud storage?

Answer 10

Advantages: Remote Access, Easier Maintenance, Easier to roll out updates, Cheaper software licenses.
Disadvantages: Users require internet to access, cloud storage host company needs access to data which brings security risks.

Question 11

What are Centralised and Decentralised Systems?

Answer 11

Centralised: A central computer does all the processing and a personal user pc can only connect to act as a end user interface for input.
Decentralised: All computers do their own processing.

Question 12

What are the advantages and disadvantages of a centralised system?

Answer 12

Advantages: Easier to safeguard, Cheaper, central data storage point, less compatibility issues.
Disdvantages: Slower and less flexible, breakdown of one machine stops the operation.

Question 13

What is the difference between the internet and the web?

Answer 13

The internet is a vast network of communicating computers and the web is a way of accessing web pages using browsing tools.

Question 14

What are intranets and extranets?

Answer 14

Intranets are internal internets and Extranets are intranets with access to another organizations intranet.

Question 15

What is Big Data?

Answer 15

Large datasets that can be analysed to reveal patterns, trends and associations in human behavior and interactions.

Question 16

What are the 3 (or 4) V’s of Big Data?

Answer 16

Volume (To big to easily process), Velocity (Data arrives continually), Variety (Structure, Source and Size varies). The 4th is Veracity (The data’s context and prevalence).

Question 17

What types of data are stored to have such a large volume (Big Data)?

Answer 17

Retail (Purchase Details), Social Media (Interaction Details), Mobile Data (Texts, Browsing, Location), Banking (Transactions) and Internet Providers (Browsing History).

Question 18

What is the difference between structured and unstructured data?

Answer 18

Structured: Defined fields, lengths and structure already cleaned into a relational database.
Unstructured: Erratically shaped from a variety of sources that requires manipulation to be useful.

Question 19

Why does velocity of dealing with big data matter?

Answer 19

So that the output is still relevant when it is created, e.g. targeted ads need to be for events that still have tickets on sale etc.

Question 20

What software is used specifically to deal with bug Data and how does it work?

Answer 20

‘Apache Hadoop’ : It uses data mining, forecasting, text analytics, voice analytics, statistical analysis to deal with the large variety of data sources.

Question 21

What is ETL and what is it used for?

Answer 21

Extraction, Transformation and Loading is the three step process of creating a relationship model in BI to enable analytics.

Question 22

How can BI give you a full picture?

Answer 22

By creating comparison graphs of not only your present but also your past and future as well as similar maps for your competitors and market leaders.

Question 23

What are the key dangers of Big Data?

Answer 23

Cost (Of hardware, training and software), Regulation (Information acts), Loss/Theft of Data (Safeguard lawsuits), Incorrect data (Uniformed decisions), Employee monitoring (Creates stressful environment).

Question 24

What does the UK data protection act state?

Answer 24

Data should be held for no longer than needed, those involved can see their data and amend any changes at all times.

Question 25

How can organisations prevent data attacks?

Answer 25

Firewalls, Data Backups, Virus Checkers and a last case disaster recovery plan.

Question 26

How can data be monetized?

Answer 26

It can be sold, but it can also improve process efficiencies for not for profit organizations and the government.

Question 27

How do MA and Data Scientists interact regarding data? [Note of Separate Visual on Chapter 3]

Answer 27

Visual Needed to Learn!!!