Session 1 Midterm Study Guide Undo ctrl Z Conditional formation Home Conditional Formatting Data Bars Absolute when before cell Sort Data Sort Sort by Auto Filter Data Filter Click drop down and select Pivot Table o Insert Pivot Table Ok Drag and drop fields from Choose fields to each of the 4 o Powerful built in analysis feature in Excel that analyzes summarizes and manipulates boxes data o Called pivot table because fields can be moved within the table to create different types of summary lists Solver o An Excel What If analysis tool Used when problem contains more than one variable o It is an add in feature o Data Solver o Target cell ABSOLUTE x y o By Changing Cells ABSOLUTE o Subject to Constrains ABSOLUTE Chapter 11 Gallaugher Terms o Big Data General term used to describe massive amounts of data available out there to today s managers Often too big and costly to work with using conventional databases But new tools are making it possible for managers to use and analyze big data o Business Intelligence BI Systems Systems that use data created by other systems to provide reporting and analysis for organizational decision making o Analytics These drive decision making by using data statistical and quantitative analysis explanatory and predictive models and fact based management o Data Raw facts and figures o Information Data presented in a context so than it can answer questions and support decision making o Knowledge Information Manager s insight experience and expertise Where Does Data Come From o Transaction Processing System TPS A system that records transactions such as cash register sales ATM withdrawal or product return o Transaction Any type of business exchange o Loyalty cards A system that provides customers rewards and usage incentives In the process also tracks and records detailed customer activities and enhances data collection It can represent a significant switching cost o Data aggregators Firms that collect and resell data Ex LexisNexis o Data IS an asset Because it can be used to gain competitive advantage over competitors Ex Wal Mart and Caesar o Data warehouse A set of databases designed to support decision making in an o Data mart A database focused on addressing the concerns of a specific problem or business unit Ex increasing customer retention improving product quality marketing engineering etc Retail Link A system used by Wal Mart that not only records a sale each time an item is scanned at the cash register but also automatically triggers inventory reordering scheduling and delivery It keeps shelves stacked while keeping inventory at a minimum Total Rewards loyalty card system Gary Loveman CEO Opt in loyalty program Op in Loyalty program that requires customer consent Customer Life Time Value CLV Present value of all the future income that can be earned from a customer The company runs hundreds of small experimental hypothesis every year to see what strategy works on which group of customers o Data Mining Using computers to identify hidden patterns in and to build models from o Customer Segmentation Figure out which customers are likely to be the most valuable Uses of Data Mining large data sets to the firm o Marketing and promotion targeting Identify which customers will respond to which offers at which price at what time o Market Basket Analysis Figure out customers buy which products together so that firms can cross sell more products and services o Collaborative Filtering Personalize each customer s experience based on trends and preferences identified with similar customers organization o Wal Mart o Caesars o Customer Churn Determine which customers are likely to leave and determine what tactics you can use to prevent than o Fraud detection Identify patterns that lead to criminal activities o Hiring and Promotions Identifying characteristics consistent with employee success o Black Swan Events that are unpredictable but highly impactful Companies need capable computing resources to deal with huge quantities of data from Black Swan events Enterprise Software Examples o CRM Customer Relationship Management o SCP Supply Chain Planning o ERP Enterprise Resource Planning o GIGO Garbage In Garbage Out If data is irrelevant incomplete and inaccurate then results created from it will also be useless Difference Between Excel and Access 1 Excel is a Spreadsheet whereas Access is a relational database management system 2 Excel is good with numbers and calculations whereas Access manages large amounts of 3 You can create Queries Forms and Reports of Access but not on Excel which can create Graphs and charts but not Queries Forms and Reports Relational Databases o Entity Column headings on a database Table Rectangular box on database diagrams o Instances Row title One of an entity Ex A customer o Record Row in a database table A collection of data elements related to an instance of data Ex CustomerS an entity Address etc o Attributes The data under each column heading entity Ex Customer ID Name o Composite Entity Relationship table Table that is used to break Many to Many relationships Rectangle with a triangle in it on a database diagram o Database A single table or collection of related tables o Database Management System aka Database Software Software for creating maintaining and manipulating data o Structured Query Language SQL A language used to create and manipulate databases o Database Administrator Job title focused on directing performing or overseeing activities associated with a database or set of databases o Table a list of data arranged in columns fields and rows records o Columns Fields Represents each category of data contained in the record o Rows records Represents a single instance of whatever the table keeps track of o Key Code that unlocks encryption o Relational Database Most common standard of expressing databases through which tables are related based on common keys Information stored in the form of logically related two dimensional tables o Primary Key Key that uniquely identifies a row record o Foreign key A non key attribute in one table that is a primary key in another table o Simple Attributes Can t be broken down into subparts Ex student s major o Composite Attribute Can be broken down into subparts Ex Address can be broken o Single Values Attributes Attribute can have only ONE value Ex customer can have down into Street City State Zip code only ONE date or birth o Multi Valued Attributes Attribute can have several values Ex
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