digitalisation, big data & data analytics

Question 1

what is digitisation, related to information format

Answer 1

conversion of analog information into digital format
ie. scanning a cashiers till receipt into pdf format
converting audiovisual content into MPEG format

Question 2

what are the benefits of digitisation

Answer 2

• efficiency and cost savings
  Usually digitisation is done to be able to store, transmit, share, maintain and process information more easily. It’s a form of automation which will (to some degree) will improve efficiency and save money.
• collaboration
  Organisations should also consider whether the potential for increased collaboration can be exploited for their benefit.
• security and protection
  digitisation allows certain IT based controls to be put in place to prevent loss, damage, unauthorised access and amendments

Question 3

what is digitalisation relating to process

Answer 3

enhancement of business processes through use of technology
i.e. use if AI to do just about anything
digital streaming on TV or music platforms

Question 4

what three levels of transformation have been identified

Answer 4

• IT modernisation
• digital optimisation
• invention of new digital business models

Question 5

what is big data

Answer 5

refers to large and complex collections of data z

Question 6

what are the characteristics of big data

Answer 6

volume
velocity
variety
veracity
value

Question 7

what is data analytics

Answer 7

the science of analysing raw data to extract information from the data set and draw meaningful conclusions and make decisions

Question 8

what are the types of data analytics

Answer 8

(fill in from lecture slides)

Question 9

what are the risk and challenges of big data

Answer 9

• quality of data
• veracity
• cost
• skills
• security of data - data protection