Info Systems Terms

Data Mining

Discovering novel and interesting patterns in large amounts of data

Operational database

collects operational information

Online Transaction Processing (OLTP)

updating (i.e. inserting, modifying and deleting) and retrieving data from databases for operation purposes

Predictive Analytics

using past data to predict future events

Slice and Dice

- Adds, replaces, or eliminates specified attributes (or particular values) from the already displayed result - Not deleting from database, but eliminating from query

Customer Relationship Management (CRM)

- Leverages existing customer data - Drive loyalty and engagement - Maximize profitability from lapsed, existing and potential customer -CRM entails integration of: sales management, marketing, customer service

data warehouse

A typical organization maintains and utilizes a number of operational data sources (i.e. operational databases)

Drill Down

Makes the granularity of the data in the query result finer

Big Data

Massive volumes of diverse and rapidly growing data that are not formally modeled for efficient retrieval

Pivot (Rotate)

Reorganizes the values displayed in the original query results by moving values of a dimension column from one axis to another

Online Analytical Processing (OLAP)

Retrieving data from data warehouses and/or data marts for analytical purposes

Reasons for the creation of a data warehouse as a separate analytical database

Time Horizon Difference Performance Reasons Difference in Structuring of Data

market basket analysis

evaluates 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

Market Basket Analysis (aka association rule mining)

finds groups of items that tend to appear together in transactions

operational example

information reflecting withdrawing cash from an ATM, making an airline reservation, purchasing stocks

Drill Up

makes the granularity of the data in the query result coarser

analytical examples

reflecting trends, sales, product statistics, and future growth projections

OLAP/BI Tools

slice and dice, pivot, drill down/drill up

Analytical information

the information collected and used in support of analytical tasks

Operational information (transactional information)

the information collected and used in support of day to day operational needs in business and other organizations