LU3 pt. 1 Flashcards
(32 cards)
XXX XXX and XXX XXX are amongst the fastest growing areas of corporate and government software investment.
XKNOWLEDGE MANAGEMENTX and XCOLLABORATION SYSTEMSX are amongst the fastest growing areas of corporate and government software investment.
Important pattern from data to wisdom:
Data -> Information -> Knowledge -> Wisdom
What is Data?
A flow of events or transactions captured by an organisations systems
that, by itself, is useful for transacting but little else.
How to turn Data into Information:
To turn data into useful information, a firm must expend resources to
organise data into categories of understanding, such as monthly, daily, regional, or store-based reports of total sales.
How to transform Information into Knowledge:
To transform information into knowledge, a firm must expend additional
resources to discover patterns, rules, and contexts where the knowledge works.
What is Wisdom?
Wisdom is thought to be the collective and individual experience of
applying knowledge to the solution of problems. Wisdom involves where, when, and how to apply knowledge.
Knowledge is a XXX, even a XXX event that takes place inside people’s heads. It is also stored in libraries, records, shared in lectures, etc.
Knowledge is a XCOGNITIVEX, even a XPHYSIOLOGICALX event that takes place inside people’s heads. It is also stored in libraries, records, shared in lectures, etc.
What is tacit knowledge?
Knowledge residing in the minds of employees that has not been documented.
What is explicit knowledge?
Knowledge that has been documented.
Knowledge can be both:
Situational and Contextual.
Types of decisions:
Structured
Unstructured
Semi-structured
What are structured decisions?
They are repetitive and routine and involve a definite procedure for
handling them so that they do not have to be treated each time as if they were
new. (lower organisations levels)
What are unstructured decisions?
Decisions in which the decision maker must provide judgement,
evaluation, and the insight to solve the problem; each of these decisions is novel,
important and non routine and there is no well-understood or agreed-upon
procedure for making them.
(Higher organisation levels)
What are semi-structured decisions?
Decisions which have elements of both structure and unstructured. Only
part of the problem has a clear-cut answer provide by an accepted procedure.
(Middle management)
A XXX XXX to information requirements, strategic analysis, or critical
success factors argues that an organisations information requirements are
determined by a small number of XXX XXX XXX of managers.
A XSTRATEGIC APPROACHX to information requirements, strategic analysis, or critical
success factors argues that an organisations information requirements are
determined by a small number of XKEY PERFORMANCE INDICATORS (KPIS)X of managers.
KPIs are shaped by:
The industry, the firm, the manager, and the broader
environment.
If a company wants to know which product is the most popular or who is its most
profitable customers, the answer lies in the:
DATA.
What is Big Data?
It describes data sets with volumes so huge that they are beyond the ability of typical DBMS to capture store, and analyse.
Big data is produced in much larger quantities and much more rapidly than
traditional data.
Why are businesses interested in Big Data?
Because they can reveal more patterns and interesting relationships than smaller data sets, which is potential to provide insights into customer behaviour, etc.
Tools-facilitating big data analysis:
- Data warehouses and data marts
- Hadoop
- In-memory computing
- Analytical platforms
Data warehouses and data marts:
Traditional tool for analysing corporate data for the past two decades
A data warehouse is a database that extracts and stores current and historical data of potential
interest to decision makers throughout the company.
Data originates from in many core operational transaction systems: systems for
sales, customer accounts, manufacturing and data from website transactions.
What is a data mart?
A subset of a data warehouse in which a summarised or highly focussed portion of the organisation’s data is placed in a separate database for a specific population of users.
HADOOP
Hadoop is an open source of software framework managed by the Apache Software Foundation that enables distributed parallel processing of huge amounts of data across inexpensive computers.
It breaks a big data problem down into sub-problems, distributes them among up to
thousands of inexpensive computer processing nodes, and then combines the result
into a smaller data set that is easier to analyse
27 of 74Andrada Trifan Summary ABI
example: find the best airfare, get directions to a place, do a google search
It consists of key services:
- Hadoop Distributed File Systems (HDFS) for data storage
- MapReduce for high-performance parallel data processing
In-memory computing:
It relies on computer main memory (RAM) for data storage; Accessing data in
memory eliminates seek time when querying the data, which provides faster and
more predictable performance than disk.
