Chapter I Flashcards
- – - The confirmation or validation of an event or object
- – - The present time, during which infinite quantities of facts are widely available to anyone who can use a computer
Fact
Information Age
- – (IoT) - A world where interconnected Internet-enabled devices or “things” have the ability to collect and share data without human intervention
- (M2M) - Refers to devices that connect directly to other devices
Internet of THings
Machine-to-Machine
The core drivers of the information age:
Data
Information
Business Intelligence
Knowledge
- Raw facts that describe the characteristics of an event or object
- – data – Stored in a traditional system such as a relational database or spreadsheet
- – data – Created by a machine without human intervention
- –data – Data that humans, in interaction with computers, generate
Data
Structured Data
Machine-generated data
Human-generated data
— data – Not defined and does not follow a specified format
Unstructured
- – A collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools
- – A view of data at a particular point in time
Big Data
Snapshot
— - Data converted into a meaningful and useful context
Information
- – A document containing data organized in a table, matrix, or graphical format allowing users to easily comprehend and understand information
- – Creating once based on data that does not change
- – – Changes automatically during creation
Report
Static report
Dynamic Report
Business intelligence - Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making
Business Intelligence
— – The science of fact-based decision making
Descriptive —
Predictive —
Prescriptive —-
Analytics
– Analytics
Techniques that describe past performance and history
Example: Creating a report that includes charts and graphs that explains data
– Analytics
Techniques that extract information from data and use it to predict future trends and identify behavioral patterns
Example: Using past sales data to predict future sales data
– Analytics
Techniques that create models indicating the best decision to make or course of action to take
Example: Airline using past purchasing data as inputs into a model that recommends the best pricing strategy across all flights allowing the company to maximize revenue.
Descriptive
Predictive
Prescriptive
– - Skills, experience, and expertise coupled with information and intelligence that creates a person’s intellectual resources
Knowledge worker – Individual valued for their ability to interpret and analyze information
Knowledge
Knowledge Worker
Departments Working Independently…
- –: records,measures, and reports monetary transactions
- –:Tracks Financial Strategic issues including money, banking, credit, investments, and assets
- – —: Maintains policies, plans, and procedures for effective management of employees
- –: Supports sales by planning, pricing, and promoting goods or services
- – —: Manages the process of converting or transforming or resources into goods or services
–: Performs the function of selling goods or services
Accounting Finance Human Resources Marketing Operations Management Sales
Departments Working Together..
—: Transactional data, Purchasing data, Payroll data, Tax Data
—: Investment data, Monetary data, reporting data
— —: Employee data, Promotion data, Vacation data
–: Promotion data, Sales data, Advertising data
— —: Manufacturing data, Distribution data, production data
—: Potential customer data, Sales report data, commission data, customer support data
Accounting Finance Human Resources Marketing Operations Management Sales
–: Material items or products that customers will buy to satisfy a want or need
Goods
