Chapter 6

Question 0

Exabyte

Answer 0

10^18

Question 1

Russel Ackoff’s Assumptions about managerial decision making

Answer 1

1. Managers have no problem making decisions if they get the data they need
   - > Too many possibilities exist- they should not expect their decisions to improve
2. Poor decisions are made because managers lack relevant info
   - > Managers suffer more from an over abundance of irrelevant data & info overload
3. Managers are aware of the data they need.

Question 2

Petabyte

Answer 2

10^15

Question 3

Dirty data

Answer 3

Problematic data

Question 4

Wrong grandularity

Answer 4

Degree of summarization/detail

Question 5

Online transaction processing (OLTP)

Answer 5

Clicking data electronically and processing transactions online

Question 6

Data resource challenge

Answer 6

When data is collected OlTP but is not used to improve decision making

Question 7

Decision support system (DSS)

Answer 7

Systems that focus on making data collected in OLTP useful for decision making

Question 8

Online analytical processions (OLATP)

Answer 8

Dynamic type of reporting system that provides the ability to sum, cost, ave. and perform other simple arithmetic operations on data

Question 9

REM analysis

Answer 9

Way of analyzing and ranking customers according to their purchasing patterns

Question 10

OLAP report

Answer 10

Has measures,facts and data

Question 11

Reporting system

Answer 11

Creates, integrates and processes data from disparate sources by grouping, sorting, summing, formatting etc to the proper users on a timely basis

Question 12

Data mining systems

Answer 12

Uses sophisticated statistical techniques to find patterns and relationships

Question 13

Market based analysis

Answer 13

Data mining system; computes correlations of items on past orders to determine items that are frequently purchased together

Question 14

Knowledge management systems (KM)

Answer 14

Shares knowledge of products, product uses, best practices etc among employees, managers, customers and others

Question 15

Expert systems

Answer 15

Encodes human knowledge in the form of IF/Then rules and processes these rules to make a diagnosis or recommendation

Created by interviewing experts in a given business domain and codifying rules by these experts

Question 16

Difference between reporting tool and reporting system

Answer 16

• reporting tool generates a report

- reporting system alerts

Question 17

Data warehouse

Answer 17

Facilities that prepares, stores and manages data specifically for reporting data mining

Question 18

Data mart

Answer 18

Data collection that is created to address the needs of a particular business function, problem/opportunity

Question 19

Clutter analysis

Answer 19

Unsupervised data mining; Statistical techniques are used to identify groups of entities that have similar characteristics

Question 20

Regression analysis

Answer 20

Supervised data mining; used to determine the relative influences of variables on an outcome and also predict future values of the outcome

Question 21

Neutral networks

Answer 21

Supervised data mining; Predicts values and makes classifications e.g. “Good prospect” / “bad prospect”

Question 22

Info overload

Answer 22

Overabundance of irrelevant data