Chapter 11 The Data Asset Databases Intelligence and Competitive Advantage I Introduction business intelligence BI combining aspects of reporting data exploration and ad hoc theories and sophisticated data modeling and analysis analytics describing the extensive use of data statistical and quantitative analysis explanatory and predictive models and fact based management to drive decisions and actions Data Information Knowledge data raw facts and figures information data presented in a context so that it can answer a question or support decision making knowledge insight derived from experience and expertise database single table or a collection of tables database management systems DBMS software for creating maintaining and manipulating data structured query language SQL language used to created and manipulate databases database administrator focused on directing performing or overseeing activities associated with a database of set of databases table file list of data in columns and rows column field represent each category of data contained in a record row record represent a single instance of whatever the table keeps track of key code that unlocks encryption relational database tables are related based on common keys Where Does Data Come From transactional processing systems TPS systems that record a transaction ex purchase ATM return transaction some kind of business exchange loyalty card system that provides rewards usage incentives in exchange for a method that provides a more detailed tracking of customer activity artificial intelligence software that seeks to reproduce mimic human thought decision making data aggregators firms that collect and resell data Data Rich Information Poor legacy system older IS that are often incompatible with other systems technologies and ways of conducting business incompatible legacy systems can be a major roadblock to turning data into information and they can inhibit firm agility holding back operational and strategic initiatives Data Warehouses and Data Marts data warehouse set of databases designed to support decision making in an organization data mart databases focused on addressing concerns of a specific problem or business unit e discovery process of identifying and retrieving relevant electronic info to support litigation efforts The Business Intelligence Toolkit canned reports reports that provide regular summaries of information in a predetermined format ad hoc reporting tools put users in control so that they can create custom reports on an as needed basis dashboards a heads up display of critical indicators that allow managers to get a graphical glance at key performance metrics online analytical processing OLAP method of querying and reporting that takes data from standard relational databases calculates and summarizes the data and then stores the data in a special database called a data cube data cube special database used to store data in OLAP reporting data mining process of using computers to identify hidden patterns in large data sets over engineer build a model with so many variables that the solution arrived at might only work on the subset of data you ve used to create it neutral network an AI system that examines data and hunts down patterns in order to build models to exploit findings expert systems AI systems that leverage rules or examples to perform a task in a way that mimics applied human expertise genetic algorithms model building techniques where computers examine many potential solutions to a problem iteratively modifying various mathematical models and comparing the mutated models to search for a best alternative Data Asset in Action inventory turnover ratio ratio of a company s annual sales to its inventory opt in program that requires customer consent opt out enroll all customers by default customer lifetime value CLV present value of the likely future income stream generated by an individual purchaser taken private process by which a publicly held company has its outstanding shares purchased by an individual who wish to obtain complete ownership II III IV V VI VII
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