CIS UNIT 3 MO10A

information scrubbing information cleansing

2 terms that describe process for weeding out, fixing, or discarding inconsistent, incorrect, or incomplete information

Extraction, transformation, and Loading (ETL)

Process that extracts information from internal and external databases, transforms it using a common set of enterprise definitions, and loads it into a data warehouse

cluster analysis

a technique used to divide information sets into mutually exclusive groups such that the members of each group are as close together as possible to one another and the different groups are as far apart as possible

data rich, information poor

accurately defines the problem with too much information

Velocity (big data characteristics)

analysis of streaming data as it travels around the internet; analysis necessary of social media messages spreading globally

market basket analysis

analyzes such items as websites and checkout scanner information to detect customers' buying behavior and predict future behavior by identifying affinities among customers' choices of products and services

social media analytics

analyzes text flowing across internet, including unstructured text from blogs and messages

web analytics

analyzes unstructured data associated with websites to identify consumer behavior and website navigation

text analytics

analyzes unstructured data to find trends and patterns in words and sentences

classification (data mining activity)

assigns records to one of a predefined set of classes

data artist

business analytics specialist who uses visual tools to help people understand complex data

big data

collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional databases methods and tools

information cube

common term for the representation of multidimensional information

data mart

contains a subset of data warehouse information

data visualization

describes technologies that allow users to "see" or visualize data to transform information into a business perspective

estimation (data mining activity)

determines values for an unknown continuous variable behavior or estimated future value

affinity grouping (data mining activity)

determines which things go together

variety (big data characteristics)

different forms of structured and unstructured data; data from spreadsheets and databases as well as from email, videos, photos, and PDFs, all of which must be analyzed

dirty data

erroneous or flawed data

advanced analytics

focuses on forecasting future trends and producing insights using sophisticated quantitative methods, including statistics, descriptive and predictive data mining, simulation, and optimization

true

gender, for instance can be referred to in many ways (Male ,female, M/F, 1/0) but it should be standardized on a data warehouse with one common way of referring to each data element that stores gender (M/F)

data warehouse

logical collection of information, gathered from many different operational databases, that supports business analysis activities and decision-making tasks

data quality audits

many firms complete this to determine the accuracy and completeness of its data

data visualization tools

move beyond Excel graphs and charts into sophisticated analysis techniques such as pie charts, controls, instruments, maps, time-series graphs, and more

forecasts

prediction based on time series information

infographics

present the results of data analysis, displaying the patterns, relationships, and trends in a graphical format

duplicate data non-formatted data incorrect data

problems associated with dirty data

data mining

process of analyzing data to extract information not offered by the raw data alone

speech analytics

process of analyzing recorded calls to gather information; brings structure to customer interactions and exposes information buried in customer contact center interactions with an enterprise

distributed computing

processes and manages algorithms across many machines in a computing environment

inconsistent data definitions lack of data standards poor data quality inadequate data usefulness ineffective direct data access

reasons why business analysis is difficult using operational databases

association detection

reveals the relationship between variables along with the nature and frequency of the relationships

volume(big data characteristics)

scale of data; includes enormous volumes of data generated daily; Massive volume created by machines and networks

clustering (data mining activity)

segments a heterogeneous population of records into a number of more homogeneous subgroups

business intelligence

solution to the problem of being data rich and information poor

veracity (big data characteristics)

the uncertainty of data, including biases, noise, and abnormalities; uncertainty or untrustworthiness of data; data must be meaningful to the problem being analyze

data mining information cleansing, or scrubbing data mart

three core concepts of data warehousing

data mining big data analytics data visualization

three organizational methods for analyzing big data

time-series information

timestamped information collected at a particular frequency

business intelligence dashboards

tracks corporate metrics such as critical success factors and key performance indicators and include advanced capabilities such as interactive controls allowing users to manipulate data for analysis

structured data

what has a defined length, type, and format and includes numbers, dates, or strings such as Customer Address?

unstructured data

what is not defined, does not follow a specified format, and is typically free form text such as emails?

analysis paralysis

what occurs when user goes into an emotional state of over-analysis (or over thinking) a situation so that a decision or action is never taken, in effect paralyzing the outcome. in the time of big data, analysis paralysis is a growing problem?

data mining tools

what uses a variety of techniques to find patterns and relationships in large volumes of information that predict future behavior and guide decision making?

where has the business been where is the business now where is the business going

which of the following are answers to tough business questions BI can answer?

data scientists

who extracts knowledge from data by performing statistical analysis, data mining, and advanced analytics on big data to identify trends, market changes, and other relevant information