CIS190 Chapter 6
big data
a data set that is too large or complex to be analyzed using traditional data processing applications
satisficing
a decision-making strategy that involves searching through available alternatives until an acceptable solution is found. it is a composite of the words "satisfy" and "suffice"
self-service analytics
a form of BI that enables and encourages managers and other users to perform queries and generate reports with nominal IT support
data science
a multi-disciplinary field that uses domain expertise, scientific methods, programming skills, algorithms and statistics to extract knowledge and insights from structured, semi-structured and unstructured big data sets to predict future behavior and prescribe actions
Predective Modeling
a process that uses data mining and probabilities to forecast model to predict outcomes
business intelligence
a set of best practices, software, infrastructure and tools to acquire and transform raw highly structured data into actionable insights to help managers at all levels of the organization make informed business decisions
digital dashboard
a static or interactive electronic interface used to acquire and consolidate data across an organization
linear regression
a statistical method used to fit a linear model to a given data set
data product
a technical function that encapsulates an algorithm and is designed to integrate directly into core applications
trended time series
a time series in which the mean value of the time series can fluctuate by season
constant time series
a time series in which the mean value of the time series is constant over time
modern BI
allows users to product reports and analysis on-the-fly and share data with other users to make decisions and optimize buisness results
predictive model
based on several factors likely to influence future behavior and predicts at some confidence level the outcome of an event
geographic information system
computer-based tool that captures, stores, manipulates, analyzes, and visualizes geographic data on a map
descriptive data analytics
create a summary of historical data to yield useful information and possibly prepare the data for future more sophisticated analysis
geospatial data
data that have an explicit geographic component, ranging from vector and raster data to tabular data with site locations
rules-based decision-making
decision-making that helps novices make decisions like an expert
prescriptive data analytics
dedicated to finding the best course of action among various choices given the known parameters
resilient distributed dataset
fault-tolerant, immutable and distributed collection of objects that can be processed in parallel across a cluster
dashboard
graphical user interface that provides at-a-glance views of relevant KPIs to an organization or department
data mashup
integration of two or more data sets from various business systems and external sources without relying on the middle step of ETL (extract, transform, and load) into a data warehouse or help from IT
a time-series regression
model estimates the direction a variable is trending over time
sentiment analysis
natural language processing, text analysis, computational linguistics and biometrics to systematically identify, extract and quantify affective stages and subjective information
machine learning
scientific algorithms that identify patterns in big data to learn from the data and creation insights based on the data
unknown unknown
something we don't know, and we don't realize we don't know it
known unknown
something we don't know, and we know we don't know it
known known
something we know, and we know that we know it
advanced data analytics
the examination of data using sophisticated methods and techniques to discover deeper insights, make predictions and/or generate recommendations
bounded rationality
the idea that rationality is limited by the tractability of the decision, cognitive limitations of the mind and time available to make the decisions
embedded BI
the integration of self-service analytics tools and capabilities within commonly used business software apps
data visualization
the presentation of data in a graphical format to make it easier for decision0mkaers to grasp difficult concepts or identify new patterns in the data
decision optimization
the process of calculating values of variables that lead to an optimal value of the event under investigation
text mining
the process of deriving high quality information from text aided by software that can identify concepts, patterns, topics, keywords and other attributes in the unstructured data
optimizing
the process of dining an alternative that is most cost effective or produces best achievable performance under given constraints by maximizing desired effects and minimizing undesired effect
data analytics
the process of examining data sets to draw conclusions about the information they contain, usually with the help of computer software
geocoding
the process of reading input text such as an address and converting it to output in the form of a latitude/longitude coordinate
data visualization
the process of representing abstract buisness or scientific data as images, diagrams, graphs, or animations that cna aid in understanding the meaning of the data
predictive data analytics
the process of uisng data analytics methods and techniques to model and make predictions about unkown events from data
data discovery
the process of using BI to collect data from various databases and consolidate it into a single source that can be easily and instantly evaluated
data mining
the process of using software to analyze unstructured, semi-structured, and structured data from various perspectives, categorize them, and derive correlations or patterns among fields in the data
augmented analytics
the use of machine learning and AI in Bi tools to automate data preparation and help users discover and share insights
augmented reality
the use of more contemporary 3-D visualization methods and techniques to illustrate the relationships within data including smart mapping, smart routines, machines learning, and natural language processing
