WEEK 2, ch4

Question 1

data

Answer 1

pieces of information with no context, which is not useful, they are raw facts and are devoid of context or intent

Question 1

quantitative data

Answer 1

numeric, the result of a measurement, count or some mathematical calculation.

Question 2

qualitative data

Answer 2

descriptive

Question 3

information

Answer 3

is PROCESSED DATA that possesses context, relevance, and purpose

Question 4

Knowledge

Answer 4

in a certain area uses human beliefs or perceptions about relationships among facts or concepts relevant to that area.

Question 5

explicit knowledge

Answer 5

knowledge that can be expressed into words or numbers

Question 6

tacit knowledge

Answer 6

insights and intuitions and is difficult to transfer to another person by means of simple communication (riding a bicycle, skiing)

Question 7

wisdom

Answer 7

when they can combine their knowledge and experience to produce a deeper understanding of a topic.

Question 8

Database (talk about the relation of the data)

Answer 8

organized collection of related information. It is an organized collection, because in a database, all data is described and associated with other data. All the info should be related as well.

Question 9

several defects can arise when managing data resources improperly. The three common defects:

Answer 9

Non-control of Redundant Data: unnecessary duplication

Violation of data integrity: accuracy, consistency, and reliability of data throughout its lifecycle

Relying on human memory to store and to search needed data: important business information is not properly recorded or stored in a system, forcing employees to depend on their own memory to recall and retrieve data

Question 10

Relational database

Answer 10

is one in which data is organized into one or more tables. Each table has a set of fields which define the nature of the data stored in the table

Question 11

record

Answer 11

is one instance of a set of fields in a table, which can also be thought of as the rows in a table

Question 12

designing a database (4 steps)

Answer 12

1. design team determines which tables to create
2. define specific info that each table will hold
3. make sure that every table have one field in common with at least one other table (they should have a relationship), for this a PRIMARY KEY must be selected for each table, this is a unique identifier which cannot change.
4. identify and make rela between the tables so that you can pull the data together in meaningful ways.

Question 13

what does normalizing a database mean

Answer 13

reduces duplication of data between tables, gives the table as much flexibility as possible

Question 14

name the datatypes

Answer 14

text, number, yes/no, date/time, currency, paragraph text (longer text than texts), object

Question 15

spreadsheet

Answer 15

Allows you to define what kinds of values can be entered into its cells, ideal tool for analyzing the data stored in a database

Question 16

Structured Query Language (SQL)

Answer 16

programming language that works with relational database. it can be used to analyze and manipulate relational data.

Question 17

record locking

Answer 17

For a relational database to work properly, it is important that only one person can manipulate a piece of data at a time. But this is hard with large-scale databases, NoSQL comes in handy in this case.

Question 18

Database Management Systems

Answer 18

create a database, change its structure or simply do an analysis

Question 19

enterprise database

Answer 19

is a LARGE-scale database system designed to store, manage, and process vast amounts of data for businesses and organizations

Question 20

enterprise database can be set up in two ways

Answer 20

1.small business might run its database on one computer for a few employees.
2.big company like Amazon needs its database on many servers worldwide so that millions of customers can shop at the same time without slowdowns.

Question 21

whats the main challenge with relational databases?

Answer 21

scalability

Question 22

Metadata

Answer 22

can be understood as data about data, meaning it provides information about the structure and properties of data.

Question 23

example of metadata

Answer 23

Example: If a database has a field “Year of Birth” with a value 1992, the metadata includes:
* Field name: “Year of Birth”
* Data type: Integer
* Last updated: Date and time of last modification

Question 24

Data dictionary

Answer 24

Special part of a database that stores metadata, defining the structure of tables, fields, and data types used in the database.

Question 25

Data warehouses

Answer 25

system that collects, stores, and organizes data from multiple databases for analysis and reporting

Question 26

Data warehouses should be so designed so that it meets the following criteria

Answer 26

- Non-operational data: Stores a copy of data from active business databases, updated on a schedule. - Time-variant: Data is recorded with timestamps, allowing for historical comparisons. - Standardized: Data from different sources is converted into a uniform format using the ETL process (Extraction-Transformation-Load).

Question 27

there are 2 ways to design a data warehouse

Answer 27

1. bottom up approach: Starts with smaller data marts (mini data warehouses) that solve specific business problems. These data marts are later integrated into a larger data warehouse 2. top down approach: Begins with building large enterprise-wide data warehouse. Smaller data marts are created from it as specific business needs arise

Question 28

what are the 5 benefits of data warehouse?

Answer 28

1. Better understanding of data 2. Historical data tracking 3. Centralized data view 4. Data consistency 5. Advanced data analysis

Question 29

data mining

Answer 29

the process of analyzing data to find previously unknown trends, patterns and associations to make decisions.

Question 30

what is the problem that arises with data mining

Answer 30

raises privacy concerns as more personal and corporate data is collected and analyzed.

Question 31

data brokers

Answer 31

collect publicly available and government data, combine it with other sources, and sell it, raising ethical concerns.

Question 32

Business intelligence

Answer 32

refers to the process of collecting and analyzing data to gain a competitive advantage.

Question 33

Business analytics

Answer 33

focuses on using internal company data to optimize processes and improve decision-making.

Question 34

Knowledge management (KM)

Answer 34

is the practice of capturing, organizing, and storing company knowledge. This ensures that valuable insights and expertise are documented rather than being lost when employees leave.

Question 35

tulips

Answer 35

cannot change data and use ()

Question 36

Who is shared and who gets privacy

Answer 36

ledger shared but participants privacy

Question 37

can people see transactions with blockchain

Answer 37

no

Question 38

advantages of proof of work (poW)

Answer 38

1. strong competition: increases security 2. miners get rewards 3. decentralized 4. high security: difficult to hack or cheat

Question 39

disadvantages of proof of work (poW)

Answer 39

1. expensive equipment needed 2. high energy usage 3. slow transactions 4. high fees

Question 40

advantages of PoS

Answer 40

1. no expensive equipment 2. faster transaction 3. energy efficient

Question 41

disadvantages of PoS

Answer 41

1. coin hoarding (rich have more to say) 2. not fully tested at large scale 3. big investors have more control 4. requires a big initial investment

Question 42

when is blockchain NOT a good choice for a business

Answer 42

1. not fast enough for systems that need transactions to be completed in milliseconds 2.useful for big networks, not small businesses 3. is NOT the same as a traditional database. 4.NOT meant for messaging or communication 5.not a better version of traditional payment systems (Traditional payment processing (like credit card systems) is faster and more efficient than blockchain for everyday transactions).