Flashcards in LO.3 Deck (13)
3.1 Data Versus Information
Raw data/ unorganised facts need to be processed in order to make any sense of it. Otherwise it has no meaning.
3.2 Categories of information used by indivuduals
- Education and training
- Local dependant
- Benefits and Limitations
3.3 Categories of information used by businesses
- Knowledge management and creation
- Management information systems (MIS)
- Marketing, promotion and sales
- Financial analysis
- Contact management
- Decision making
- Internal and External communication
- big data
3.4 Stages of data analysis
- Identify the need
- Define scope
- Identify potential sources
- source and select information
- select the most appropriate tools
- process and analyse
- record and store information
- share results
3.5 Data analysis tools
- Data tables
- Trend and pattern identification
- data cleaning
- geographic information system / location mapping
3.6 Information system structure
- Open systems
- Closed systems
- Benefits and Limitaions
What is Big Data?
This is a large volume of data that businesses gain daily, it can be structured or unstructured. As there is such a large amount of data it is harder to structure.
What is Data mining?
This is an analytic process to try and find patterns or relations within data.
Describe the process of data into information
Data needs to be given a meaning/ context through a visual form or other way that allows it to be understood.
What does MIS Stand for?
Management Information System
Define Data Clensing
Ensuring data is of a good standard and has no errors. Can help reduce redundant data
What tools are best used for trend analysis