Chapter 1 - BUSINESS DRIVEN TECHNOLOGY

Knowledge worker

Individual valued for their ability to interpret and analyze information

Business intelligence

Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making

Unstructured data

Not defined and does not follow a specified format. - Machine-generated data: includes satellite images, social media data, and radar data. - Human-generated data: includes text messages, social media data, and emails.

Data

Raw facts that describe the characteristics of an event or object

Knowledge

Skills, experience, and expertise coupled with information and intelligence that creates a person's intellectual resources

Structured data

Stored in a traditional system such as a relational database or spreadsheet. - Machine-generated data: Created by a machine without human intervention. - Human-generated data: Data that humans, in interaction with computers, generate

Fact

The confirmation or validation of an event or object

Information age

The present time, during which infinite quantities of facts are widely available to anyone who can use a computer

Analytics

The science of fact-based decision making

Behavioral analytics

Uses data about people's behaviors to understand intent and predict future actions

Management Information Systems (MIS)

A business function, like accounting and human resources, which moves information about people, products, and processes across the company to facilitate decision-making and problem-solving

Big data

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

Variable

A data characteristic that stands for a value that changes or varies over time.

Snapshot

A view of data at a particular point in time

Systems thinking

A way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part.

Dynamic Report

Changes automatically during creation. Dynamic reports can include updating daily stock market prices or the calculation of available inventory.

Static Report

Created once based on data that does not change.

Information

Data converted into a meaningful and useful context

Drivers of information age

Data, Information, Business intelligence, Knowledge

Report

Document containing data organized in a table, matrix, or graphical format allowing users to easily comprehend and understand information.

Predictive analytics

Extracts information from data and uses it to predict future trends and identify behavioral patterns