Chapter 5 - Information Management & Business Intelligence Flashcards Preview

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Flashcards in Chapter 5 - Information Management & Business Intelligence Deck (42)
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1

What is the most important aspect of information management?

Perhaps the most important aspect of information management is the ability to recognize transactional data and other relevant data that has the potential to affect the effectiveness of operational and strategic decisions, and the benefits thereof.

2

What are the six steps in the information lifecycle?

1) Identify
2) Capture
3) Manage
4) Utilize
5) Archive
6) Destroy

3

In the information life cycle, describe the step "identify".

"Identify" is the first step of the six steps in the information lifecycle. For information to serve its optimal benefits, there must be a formal, structured approach to identifying what data to capture that has the potential to significantly assist management. Appropriate transactional data should be identified using standard practices - meeting with users and business owners, studying business processes, and understanding their outputs. A formal, structured approach to identifying relevant data is needed because end-users and business owners/sponsors often do not realize the full scope of effective data.

4

In the information life cycle, describe the step "capture".

"Capture" is the second step of the six steps in the information lifecycle. Whether the data is being created or already has been created, the next step is to capture data in all of the processes that should be able to be captured by transactional processing systems (TPS). Captured data is usually aggregated into a data warehouse or similar system. Some data that needs to be captured might be manual data, such as data manually entered into offline databases or spreadsheets.

5

In the information life cycle, describe the step "manage".

"Manage" is the third step of the six steps in the information lifecycle. Managing data that has been captured involves organizing it into systems, and eventually organizing down to the tables/files. Data also needs to be organized at the enterprise level for strategic purposes.

6

What are some of the key factors involved in managing data?

The management of the captured data includes several key factors, such as:
Access - proper data management should provide appropriate access to users.
Quality - data should be managed to ensure the quality of the data.
Timeliness - timeliness of delivery of data as information is another factor in managing data.
Format - as data is transferred into information and communicated to users, the format needs to be one that suits the task being performed and suits the person performing the task

7

In the information life cycle, describe the step "utilize".

"Utilize" is the fourth step of the information lifecycle. After proper management of data is in place, the next step is to provide proper utilization of that data as information. Users will need access to information, especially users associated with operational or strategic responsibilities. One key benefit of a database approach is the fact data can be shared, as data or information, with all need-to-know parties. Information management thus would include delivering and reporting information timely to the right person.

8

In the information life cycle, describe the step "archive".

"Archive" is the fifth step of the information lifecycle. Some data will need to be come part of the "permanent" data, some semi-permanent, and some temporary. The life span of the data being collected needs to be identified to provide an appropriate archive system, storage and management for permanent data. A data warehouse is often employed to archive permanent and semi-permanent data needed for BI or other strategic purposes.

9

In the information lifecycle, describe the step "destroy".

"Destroy" is the sixth and final step of the information lifecycle. Data that reaches the end of its life span should be recognized as such, and provisions should be in place to appropriately destroy that data. Different types of data have different archival lives, and some of the life spans differ between entities. Thus data destruction policies need to be developed based on contractual, legal , and other constraints.

10

Does proper information management involve compliance?

Yes. Proper information management means the information is in compliance with relevant policies and procedures, laws and regulations, and contractual obligations. Management should develop policies and procedures related to information, and the ILM provides a start of items to be considered. Monitoring compliance with P&P should also have been provided, and compliance monitored through the various processes established by management.

11

Describe four of the laws and regulations which impact the compliance function of data storage in ILM.

There are several federal and state reglations related to personally identifiable information (PII). Some are HIPAA, GLBA, California SB-1386 and MDPA.
HIPAA - Health Infomration Portability and Accountability Act of 1996
GLBA - Gramm-Leach-Bliley act of 1999
California SB-136, California Database Breach Act of 2002
MDPA - Massachusetts Data Privacy
All four of these laws cover both privacy and security issues related to data and information, and PII in particular.
(see Glossary cards)

12

What are other external compliance guidelines related to PII?

Other external compliance-related issues would relate to contractual obligations and industry requirements. The PCI compliance is an example of industry requirements. Banks have other requirements from FFIEC.

13

What is the process of prescribing data in a format? Why is this important?

The process of prescribing data format is known as information or data modeling. Data must be standardized in order for efficient processing to occur across systems and interfaces.

14

In data modeling, name the two formats of data.

Data can be unstructured or structured.

15

In data modeling, describe "unstructured" data.

Unstructured data does not have a prescribed format and are captured, stored, and processed in free form. For example, a text editor and taxed file, similar to word processing, is unstructured data.

16

In data modeling, describe "structured" data.

Structured data has a prescribed format, and is organized and stored into files, records, and fields with criteria for that format - such as transaction data stored from the business processes of an enterprise resource planning (ERP) system.

17

Why is structured data important?

In order for computers to process data properly, it must be structured.

18

Data modeling provides an effective means of doing what?

Data modeling provides an effective means for defining and analyzing data needed to support the business processes and other needs of the entities.

19

Should data modeling be the foundation for reporting?

Yes. By gathering reporting needs first, data modeling can lead to an effective design of the data that will be captured, stored, and ultimately the information that is reported. By following the data modeling approach, the resulting normalized data structure will lead to true process-based reporting and eliminate the limitations of systems-based reporting.

20

Can data modeling lead to more effective controls?

Yes. The construction of the data models should identify key controls and key integration points. These factors enable management to develop effective controls, especially those associated with data transfers at points of integrations as they represent high inherent risk.

21

Name some of the good results data modeling can bring to an entity.

- Provides an effective means for defining and analyzing data
- Is the foundation for true process-based reporting
- Can lead to more effective controls

22

When structuring data, name the three levels of schemas.

In gathering information requirements, or the identify stage of the ILM, data can be structured using standard schemas: user, conceptual and physical schema levels.

23

What is an external schema associated with?

The external schema is associated with information requirements, specifically a schema for each user or group of users. This view is also known as the user view or schema. External view means the perspective of the data from external sources, specifically the users of the data. These schemas are valuable for CITPs because they define what data a user or group of users need in order to perform their duties and as such are a tool for establishing logical access controls.

24

What is the hierarchical structure of data?

Data builds into information from small pieces to large pieces (sorry, I don't have any other way to describe it). Data is turned into information in the order of:
- a bit (0 or 1)
- byte - eight bits make up a bite, or a keystroke or character
- field - stream of sensible bytes (keystrokes) (relational term = column); data value; grouping of characters; attribute
- record - a closely related set of fields (relational term = row); set of data values or a collection of attributes
- file - a closely related set of records (relational term = table); group of related records
- database - a closely related set of files; integrated collection of related files
- enterprise database - a closely related set of databases

25

Describe the different data types data values can be

Data values take on one of a variety of basic data types. Data types can be simplified into three types:
- Numbers
- Alphanumeric characters
- Dates

26

What are the two forms of data files? Which one is the outcome of data normalization?

Data files are in two forms:
- flat files with all the transactional data in a single record (row)
- Databases where transactional data is broken down into separate files using a structured processes. Databases are the outcome of data normalization.

27

What is normalized data?

Normalized data is a transactional flat file that has gone through a formal process where certain factors are eliminated in order to eliminate data anomalies; addition, deletion, and change anomalies (errors). One of the outcomes of normalized data is to maximize the efficiency of the data model.

28

Why is normalization of data important?

The steps in the normalization process eliminates unnecessary redundancy of data elements, leaving any specific data field represented only once in the normalized database, except for the duplication of fields as key fields to establish the relationship between files. Integrating data from different systems is more efficient if the data model is normalized.

29

Why should data be consistent?

In order for computer processing and the actual "reporting" on information to be efficient and correct, data should follow a consistent form of data entry.

30

Why is data modeling important?

Data structures should be documented and accurately portrayed with one or more conceptual data modeling tools available. Modeling data captures the data users needs and the processes they perform in carrying out their responsibilities. A good data model shows the components that lead to the physical model, which lead to the data structure, which lead to database generation - including relational database construction where applicable.