Ch. 6 & 7 Flashcards
(33 cards)
Business Intelligence
Refers to tools and techniques for analyzing and visualizing past data
Advanced analytics
Refers to tools and techniques used to understand why something happened, predict future outcomes, or discover hidden patterns in large data sets
Business Analytics
The use of business intelligence and advanced analytics tools to enhance organizational decision making
Why do organizations need business intelligence and advanced analytics?
To respond to threats and opportunities
Big Data
Effective Planning is continuous
Big Data
A term for when
Characteristics of Big Data
High Volume
-Unprecedented amounts of data
High Variety
- Structured Data: Fit neatly into spreadsheets or databases
- Unstructured Data: Data such as audio and video data
High Velocity
-Rapid processing to maximize value
What are an organizations most valuable resources?
Data and knowledge
Advantages of databases
Minimal data redundancy
Improve data consistency
Increased security
Improve data quality
Improved data accessibility and sharing
Data Model
A map or diagram that represents entities and their relationships
Data Dictionary
A document prepared by database designers to describe the characteristics of all items in a database
Online Transaction Processing (OLTP)
Systems that interact with customers and run a business in real time
Data Warehouses
Integrate data from multiple database and other data sources – Contain historic as well as current data
Data Marts
Subset of a data warehouse, limited in scope
Operational System
Run the business on a current Support managerial decision basis
Information Systems
Support managerial decision making
Online Analytical Processing (OLAP)
Analyzing data in a complex form.
Measures
Facts, numerical data that can be aggregated
Dimensions
Ways to summarize data; Hierarchially arranged to enable drill-down and roll-up
Cubes
A data structure allowing for multiple dimensions to be added to a traditional two-dimensional table
Slicing and Dicing
Analyzing data on a subset of dimensions
Visualization
Refers to the display of complex data relationships using a variety of graphical methods; Allows for a quick analysis
Digital Dashboards
Used to visually present key performance indicators used by management; Highly aggregated form
Visual Analytics
Visualanalyticsisthecombinationofvariousanalysistechniquesand interactive visualization to solve complex problems
Data Mining & types
Discovers “hidden” predictive relationships in the data to better understand customers, product and markets.
Association Discovery
Clustering
Classification
Text and Web content mining
