Information Systems (5) Flashcards
What have critics argued about big data?
They may not necessarily represent the entire data population as a whole
Risks with quality of data in big data?
Increasing the amount of data doesn’t guarantee better decision making. Data must be relevant and reliable
Risks with veracity in big data?
Requires organisations to maintain strong governance on data quality
Risks with cost in big data?
Expensive to establish hardware and analytical software needed and comply with data protection laws
Risks with skills in big data?
Scale and complexity may require a data scientist’s level of analytical skills for data mining, deriving algorithms and predictive analysis
Risks with loss and theft of data in big data?
Companies could face legal action if data is stolen
What is data (DIKW)?
Refers to all types of facts, measurements, records. Meaningless without further processing. Is algortithmic
Data relates to?
The past
What is information (DIKW)?
Refers to connection of data. May involve aggregation. Understandable but not necessarily useful. Often answers who/what/where/when
Information relates to?
The past
What is knowledge (DIKW)?
How pieces are connected. Provides competitive advantage when sued to apply objectives. Often answers how
Knowledge relates to?
Past
What is wisdom (DIKW)?
Application of knowledge. Is non-programmable. Often answers “why”
Wisdom relates to?
Why
