Midterm 2 Flashcards
Scope
Refers to all the work involved in creating the products of projects and the processes used to create them
Deliverables
Product produced as part of a project, such as a hardware/software, planning docs, meeting minutes
Project scope management
Defining and controlling what work is or is not included in a project
Business intelligence
Includes a wide range or applications, practices and technologies for the extraction, transformation, integration, analysis, interpretation, and presentation of data to support improved decision making
Employed by organization to make and act on predictions about future conditions
Data warehouse
Store large amounts of historical data in a form readily available/ supports analysis and management decision making
Extract-transform-load (ETL)
Used to pull data from disparate data sources to populate and maintain data warehouses
-extract, transform, load steps
Data mart
Smaller version of data warehouse
Designed from scratch
Structural data
Format of data is known in advance
Traditional database
Unstructured Data
Not organized in a predefined matter, large quantities from various sources
Ex. Text message, email
Can add a debt to an analysis
Spreadsheet
Perform operations on data based on formula created by end user
Reporting and querying
Preset data in an easy to understand fashion, not needing help from IT
Rationale Database Model
Organizes structured data into collections of two dimensional tables called relations
ACID Properties
atomicity, consistency, isolation, and durability
guarantee database transactions are processed reliably and ensure the integrity of data
Drill-down analysis
enables decision makers to gain insight into the details of business data to understand why something happened
Data mining
used to explore large amounts of data for hidden patterns
predicts future trends and behaviors
Data Mining Process
Selection Preprocessing Transformation Actual data mining process Evaluation of results
KPI’s (Key performance indicators)
track progress in executing chosen strategies
consists of a direction, measure, target and time frame
Data Governance
ensures firm has reliable and actionable data to make informed business decisions
management of availability, usability, integrity, and security of data
The Four V’s
Plus 2 More
volume, variety, velocity, veracity
vulnerability, value
Volume
scale of data, how much do we have
Variety
different forms of data
Velocity
how fast data comes
Veracity
how accurate data is
Vulnerability
how exposed people are by the use of their personal data
Value
how much value does it add to use personal data
Extract step of ETL
Access various sources of data and pull from each source the data desired to update the data warehouse
Also filters for unwanted data
Transform step of ETL
The data that will be used is edited and converted to a different format
Load step of ETL
Updates the existing data warehouse with data that have passed through the extract and transform steps
Big data
Data collections that are so enormous and complex that traditional data management software cannot deal with them
