Lecture 3 Flashcards
(16 cards)
What is the DIK pyramid
Converting data-information-knowledge
Criticisms of DIK pyramid
Transformation between levels isn’t explained
Oversimplifies knowledge
What is the fourth layer of DIK
Wisdom-people can have knowledge but not apply it
Differences between BDAKM and DIK
Circular-linear
Simpler-more insight
What is the BDAKM?
Use of contextual knowledge in the transformation data-info…
What is contextual knowledge
Tacit, explicit and implicit-a mix
What are the different levels of decision making
Operational
Tactical
Strategical
Name 3 challenges of big data
Management of tech-staff
Management of velocity,volume and variety
Managers ability to analyse and implement data results
What the 3 eras in the analytics evolution
First-read only, hotel websites
Second-sharing content, social media
Third-AI:sensors,watches, paying by smartphone
Explain the sentiment analysis in the 2nd era
Tools to detect customers sentiment (e.g. reviews) and generate responses automatically
Explain social network analysis in second era
Use of influencers-at fashion shows, award shows
Disadvantages of using dashboards
Training to interpret
May oversimplify data
Advantages of dashboards
Customizable
Easy to spot trends
Quick overview-faster decision making
What are the 5 types of analytics in order
Descriptive
Diagnostic
Predictive
Prescriptive
Autonomous
What are the labels on the y axis of the types of analytics graph
Maturity
Value
Competitive advantage
Explain autonomous analytics
Limit human involvement e.g. machinery, detect credit card fraud
