Week 4 - Big Data and Analytics Flashcards
What is Information Technology (IT)?
hardware
What is Information Systems (IS)?
software
What is the diff between business analysis and business analytics
analysis- works with operational processes to make more efficient
analytics- works with data to create better outcome
Is data new?
no
Is big data new?
yes, emerged around early 2000s
Why is there now big data
because internet emerged
What is the recent objective of data management?
limiting human impact
What is a challenge for limiting human impact in data management ?
minimising bias for AI and ML
What are the 5 V’s of big data?
volume
velocity
variety
veracity
value
What do the 5 V’s explain?
they are the key characteristics that define and distinguish big data from traditional data sets
What does veracity mean?
credibility of the data sources
How do you manage big data?
- storage
- processing
- integration
- quality management
- security and privacy
- governance
- scalability
- performance
- backup and recovery
What are 10 key challenges for organisation in regard to big data
- quality
- integration
- security and privacy
- management
- complexity analysis
- cost
- talent shortage
- data governance
- ethical considerations
What is the diff between big data and analytics?
big data focuses on managing and processes large and complex datasets, whereas analytics focuses on analysing data to gain insights and inform decisions
How are big data and data analytics related?
big data provides raw material for analytics to make sense of that data
What are the types of analytics?
descriptive
predictive
prescriptive
diagnostic
autonomous
What is diagnostic analytics?
developing insights to find root causes of problems from data
What is autonomous analytics?
developing models to minimise human involvement
