BADM 350 Lecture 13Outline of Current Lecture I. Chapter 12 Summary: Databases, Business Intelligence, and Competitive Advantagea. Datab. Analyticsc. Database Management SystemsChapter 12 SummaryA study by Gartner Research claims that the amount of data on corporate hard drives doubles every 6 monthsBig Data- massive amounts of data available to today’s managers- Unstructured and costly to work through conventional databasesBusiness Intelligence- combines aspects of reporting, data exploration, modeling, and analysisAnalytics- statistical and quantitative analysis- Includes explanatory and predictive modelsMany companies have benefited from mastering how to deal with data: Walmart is the largest retailer in the world, Harrah’s grew twice as profitable as Caesars and then was able to acquire it, and Capital One found valuable customers that competitors were ignoringInventory Turnover ratio- Annual Sales/ InventoryData- raw facts and figures- Data can be leveraged if it’s rare, valuable, imperfectly imitable, and lacking substitutesThe goal is to turn data into information by presenting it in context so it can support decision makingDatatbase- a list/ several lists of data- Firms might have hundreds or thousands of different databases organized by functional area, geographical region, or business unitDatabase Management Systems (DBMS)- software that creates, maintains, and manipulates data- The most common language is SQLRelational databases- databases organized in multiple tables based on common keys- Most popularThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Transaction Processing Systems- records every time a consumer uses a point of sale system, an ATM, or aservice deskLoyalty cards allow companies to track your transactionsSometimes firms supplement operational data with surveys and focus groupsPresident Obama believes technology initiatives can save health care as much as $120 billion a yearMany major tech companies are competing to build a health solutions group including Microsoft, Google, and AppleData Aggregators- firms that trawl for data and package them for resale- Have committed errors beforeLegacy systems- outdated information systems that were not designed to share data, aren’t compatible with new technologies, and aren’t aligned with the firm’s current business needs. - This is a major concern during mergers and acquisitionsData Warehouse- a set of databases designed to support decision making- Structured for fast online questions about specific problems- can store enormous amounts of data from many different operational systemsThings that need to be addressed when designing, developing, deploying, and maintaining a database system: data relevance, data sourcing, data quantity, data quality, data hosting, data governanceHadoop- made up of many separate software pieces that requires integration to work- It is flexible, scalable, cost effective, and fault tolerant - An open source project overseen by Apache Software FoundationE-Discovery- identifying and retrieving relevant electronic information to support litigation effortsCanned Reports- provide regular summaries of information in a predetermined formatAd Hoc Reporting Tools- allows users to create their own reportsDashboards- provides a display of critical indicators letting managers get a graphical glance at key performance metricsOnline Analytical Processing (OLAP)- a subcategory of reporting tools sourced from standard relational databases- Calculated and summarized in advanceData Cube- a database where data from OLAP is