CIS Ch 7

competitive

BI can help managers with _____ monitoring where a company keeps tabs of its competitor's activities on the web using software that automatically tracks all competitor website activities such as discounts and new products

a logical collection of information-gathered from many different operational databases (often transactional D/B)

Data warehouse

analyze data and find information

Data warehouse (and data marts) are tools to

- source system dat (system of record- sor) - extract transform and load (ETL- move data into DW) - data warehouse storage and replication to data marts - analytics software (statistical analysis and visualization)

Data warehouse has multiple concepts

- good source data - well organized data sets - good quality data (clean, accurate)

Key needs for BI

False; "transactions"

T/F: data bases for transactions systems are designed to rapidly process data

False, data is read only

T/F: data warehouse info is always updated directly

True

T/F: data warehouses are exclusively for analysis, they are tuned for reporting fast

true

T/F: without a data warehouse, users have to work with multiple systems to obtain data

Business Intelligence (BI)

a broad category of applications, technologies, and processes for gathering, storing, accessing, and analyzing data to help business users make better decisions --- it's all about insight

data warehouse

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

cleansing/scrubbing

a process that evaluates date and corrects or discards inconsistent, incorrect, or incomplete information

data point

an individual item on a graph or a chart

data set

an organized collection of data

information cleansing or scrubbing

because of the need for high-quality data, organizations perform

repository

central location in which data is stored

translate into information

challenge is not lack of data, but quality of data and ability to

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

complications with transactional databases that data warehouses address

data mart

contains a subset of data warehouse information

decision

data-driven _______ management is an approach to business governance that value decisions that can be backed up with verifiable data

Data warehouses

extract data from transactional systems to support analysis

source data

identifies the primary location where data is collected

data broker

is a business that collects personal information about consumers and sells that information to other organizations

- inconsistent data definitions - lack of data standards - poor data quality (incomplete) - inadequate data usefulness - ineffective direct data access

reasons that make business analysis difficult from operational databases

data map

technique for establishing a match, or balance, between the source data and the target data warehouse

data aggregation

the collection of data from various sources for the purpose of data processing

To aggregate information throughout an organization into a single repository for decision-making purposes

the primary purpose of a data warehouse is to

business intelligence

the problem of being data rich and information poor results from an inability to turn business data into

information cleansing/ scrubbing

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

comparative analysis

what can compare two or more data sets to identify patterns and trends?

data lake

what is a storage repository that holds a vast amount of raw data in its original format until the business needs it

dirty data

what is erroneous of flawed data?

Extraction, transformation, and loading (ETL)

a 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

data rich and information poor

a statement that accurately describes a situation in which there is too much data to properly understand or make use of it