T1 - Digital Transformation & Data Driven Organizations

Question 1

What is information?

Answer 1

• information = data in context
• information always has value for a person in that specific moment (so when we talk about “having too much information” weuse the word wrongly)
• whether it is data or information is user-specific -> whatever is useful to that person in that moment is information.

Question 2

What is data?

Answer 2

Streams of raw facts representing events such as business transactions

Question 3

What is an information system?

Answer 3

A set of interrelated components that collect (or retrieve), process, store, and distribute information to support decision making and control in an organization

Question 4

What is business intelligence?

Answer 4

Business intelligence (BI) is a broad category of applications, technologies, and processes for gathering, storing, accessing, and analyzing data to help business users make better decisions.

Question 5

What are three types of analytics?

Answer 5

Descriptive - Predictive - Prescriptive

Question 6

What are descriptive analytics?

Answer 6

Question 7

What are predictive analytics?

Answer 7

Question 8

What are prescriptive analytics?

Answer 8

Question 9

How can big data be defined?

Answer 9

4 Vs:

• Volume
• Variety
• Velocity
• Veracity = Trustworthyness
• (Value)

Question 10

What do data engineers do?

Answer 10

data engineers: maintaining infrastructures, datawarehouses, communications

Data engineers build and optimize the systems that allow data scientists and analysts to perform their work. Every company depends on its data to be accurate and accessible to individuals who need to work with it. The data engineer ensures that any data is properly received, transformed, stored, and made acessible to other users.

Question 11

What is a data analyst?

Answer 11

Data Analysts deliver value to their companies by taking data, using it to answer questions, and communicating the results to help make business decisions. Common tasks done by data analysts include data cleaning, performing analysis and creating data visualizations.

Question 12

What is a data scientist?

Answer 12

A data scientist is a specialist that applies their expertise in statistics and building machine learning models to make predictions and answer key business questions.

Question 13

What are 5 aspects of data management?

Answer 13

• Relevance
• Access
• Quantity
• Quality
• Governance
  
  • Security
  • Privacy