Reporting Processes and eXtensible Business Reporting Language Flashcards
Define Data Warehouse
A collection of information gather from an assortment of external and operational databases to facilitate reporting for decision making and business analysis.
What kind of repository is a data warehouse?
1) historical data ( corporate memory)
Define Data mart
1) a subset of the information from the data warehouse to serve a specific purpose.
What are specific three types of data marts?
1) marketing data
2) inventory data
3) business intelligence
What are the four benefits of using a data warehouse
1) it can be easily comparable to different types of information
2) it has safe storage and perform queries without affecting performance
3) it works well with operational systems (ERP)
4) it can facilitate decision making decisions like DSSs
Define Business Intelligence
accumulating and analyzing data from databases and data warehouses to support managerial decision making
What are the three steps of Business Intelligence
1) Gather information ( either internal information, external information, external information or both) from a variety of sources.
2) Analyze ( or discern) patterns and trends from that information to gain understanding and meaning
3) Make Decisions based on the information gained.
What are three main differences of big data
1) Volume
2) Velocity
3) variety
Define Descriptive analytics
1) What’s happening to the organization
Define diagnostic analytics
1) describes why certain events and results occured
Define Predictive analytics
1) help business determined what most likely happen based on a series of variables.
Define Prescriptive analytics
develop a course of action response to a series of events
Define Data mining
1) Gathering data to discern from trends and patterns.
XBRL define
eXtensible Business Reporting Language
A standard language to communicate between businesses.
What XBRL can be tagged?
1) IBM
2) USD
3) ENDING PERIOD
4) Audited
5) NET INCOME
