ISM 3541 Exam 3
business analytics Analytical mindset Barbara Bush
pulling info from different sources, modeling it, and presenting it read-->write-->comprehend (viewed as analytics)
Reimaging Analytics and Engagement with Blockchain
1) "This is called analytics, and it's close to the heart (and bottom line) of any serious enterprise. A company that can find the right analytical balance can invest in mining data insights - whether in-house or by paying a big data firm - and produce returns that eclipse their sunk costs." 2) Classical process --->gather individual data points --->load into data lake --->assign relevance to analytical campaign --is an uphill battle. --only around 38% of executives trust the customer insights delivered by their analytics departments. 3) Blockchain's distributed database behaves like an open ledger to record and analyze transactions. --Blockchain turns this notion on its head. Its distributed database behaves like an open ledger to record and organize transactions, displaying the timestamp and other critical details of all exchanges of data taking place on the chain. The system will not process transactions that aren't verified, meaning that analysis of blockchain data is more accurate and transparent than alternatives. Though this notion is impressive, the young ledger technology also helps to produce new monetization models for the data analysis industry
questions that identify potential situations where ethics should be applied
1) Is there a law outlining my responsibilities with managing this data/information? 2) Is there a moral obligation to secure this data/information? 3) Will exposing this data/information cause unintended harm to someone else? 4) Am I asking myself questions around legality for what I'm about to do? 5)Is this data 100% verified as correct?
History of currency in the United States
1775: Continental Currency 4/2/1792: US Dollar is set as country's standard unit of money Gold Standard Silver Standard 1781-1836: The Bank of North America (First and Second Banks) 1837-1862: "Free Banking" Era National Banking Act (1863) 1907-1913: Creation of Federal Reserve System
History of social and ethical issues over the past 20 years
1998: 1) 20 years ago...Music started it all -What did the world look like? --Network/Internet; Computers; Information .com bubble -Web 1.0 -The state of information access -Napster (sharing music); Digital media -Email on the rise 1998-2005: 2) Access to Internet Increases -Broadband into the home -MySpace is one of the first attempts at social media platform -Blackberries were the tool of the c-level executive 2006-2010: 2) Mobile Devices, Web 2.0, FaceBook -Online education on the rise -Mobile devices changing the way people interact Technology
Bitcoin Blockchain
2008: Satoshi Nakamoto white paper (visionary) --->Bitcoin a peer-to-peer electronic cash system 2009: software shows up as invention, Blockchain --->Bitcoin is the usage of the Blockchain Trend Internet going from information to value (Web 1.0, 2.0, Internet of Things...) Blockchain = --->new form of data storage with certain attributes (security) --->works as a distributed ledger while being a single source of truth **Think about CRISP-DM processes and they are actually covered in the blockchain architecture** 160 gigabytes of data In 1873, a ledger in a business was a book where transactions were recorded by hand and in theory could erase a transaction and commit fraud Without data analytics, the theft of bitcoins or even fraudulent use of currencies, could become possible. This is going to be important, as despite the digital currency currently having strong security, the increasing use of quantum computing and data-driven hacking means that there is a strong potential for leaks. Being able to identify those who are likely to have committed these is going to be key to making sure that transactions are safe, secure and most importantly, legal
Social and ethical issues
2011-2018: *Data Mining Frontier* --The drive to Web 3.0 (Semantic Web + Artificial Intelligence) --Facebook and other social media apps gathering data --Digital footprint --Texting and Pictures --The "Internet of Things" 1) Framework: *Ethical and Legal Issues* --Privacy, security --Discrimination, stigmatization, polarization --Consent, autonomy, self-determination --Transparency, integrity, trust Rapid technological developments may cause ethical issues --Violations of moral principles (e.g., human dignity) --Conflicting moral principles (e.g., privacy vs. security) --New moral principles? (e.g. right to be forgotten, right not to know)
Bitcoin Ethereum
Bitcoin: --a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. Ethereum: --open-source, public, blockchain-based distributed computing platform and operation system featuring smart contract (scripting) functionality.
Chapter 6 Putting people in position for success
Characteristics of successful people: 1) integrity 2) the need to belong 3) the need to feel valued 4)the need to be successful 5) the need for fulfillment 6) the need for growth Must communicate problems Productivity? context in critical in "seeking to understand"
Storytelling and CRISP-DM process
DM PROCESS 1) business understanding 2) data understanding 3) data preparation 4) modeling 5) evaluation 6) deployment Apply results to influence and/or inform PROCESS proposals: --define approaches --define methodologies --define framework ----> how and why? ----> what model?
Data visualization
Data visualization ---> Business intelligence (what are we doing with the goal/new information/intelligence) ---> Business analytics (what to do with business intelligence)
Key points presenting information
Give thought to how you decompose your information. What are the highlights? Is there a way to deliver the information with minimal context? Where is context of the highest value? contextual questions = unique, where you need drill downs
Proof of work proof of state
In fact, programming an attack to a PoW network is very expensive, and you would need more money than you can be able to steal. Instead, the underlying PoS algorithm must be as bulletproof as possible because, without especially penalties, proof of stake-based network could be cheaper to attack
Chapter 16 Keys to success
Success = a product of multiple things such as experience, motivation, and knowledge key to success = communication human traits: self confidence, leadership, enthusiasm towards the goal, and taking initiative 16 Principles: definite purpose, self confidence, initiative and leadership, imagination, action, enthusiasm, self control, over performance, attractive personality, accurate thoughts, tolerance, failure, cooperation, habit of saving, and the golden rule. Success comes when you end up in a place you've always envisioned ****useless without proper communication and proper actions Communication: how we tell a story which implies that the author/professional needs to know their audience
IBM Think 2018
What is it? Think 2018 is a conference for IBM customers to learn about their latest innovations. What is their hook? (??) "Think 2018, March 19-22". Tagged interests: social media, analytics, watson. https://www.ibm.com/blogs/business-analytics/business-analytics-finance-professionals-think-2018/
blockchain
a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly. --new form of data storage with certain attributes (security) goal = get calculation first by processing transactions
block
a series of transactions. Blocks are completed through mathematical formulas across a peer-to-peer network
Gritt & co
analytics: the term given to the gathering and interpretation of digital marketing data. What do they do? offer online marketing and other digital services like website design and branding. http://www.gritt.com/what-we-do/online-marketing/analytics
story telling and data visualization
classical method who? what? where? when? why? how? DATA visualization who? ---> client/employer what? ---> scope/task/goal where? ---> CONTEXT when? ---> CONTEXT why? vision/destination how? ---> CONTEXT most humans can process between 3-7 pieces of information. How we present information is a key decision in designing (e.g. data models), producing, and storytelling (e.g. the Headlines). comprehension = thinking (biggest impact)
Blockchain applications
https://blockgeeks.com/guides/blockchain-applications/ Blockchain Internet-of-Things (IoT) Any material object is a 'thing.' It becomes an internet of things (IoT) when it has an on/ off switch that connects it to the internet and to each other. By being connected to a computer network, the object, such as a car, become more than just an object. It is now people-people, people-things, and things-things. The analyst firm Gartner says that by 2020 there will be over 26 billion connected devices. Others raise that number to over 100! How does the IoT affect you? Your printer can automatically order cartridges from Amazon when it runs low. Your alarm clock will change your time for brewing coffee, while your oven will produce an immaculately timed turkey for Thanksgiving. These are just some examples. On a larger scale, cities and governments can use IoT to develop cleaner environments, more efficient energy use and so-called 'smart cities,' to improve how we live and work
Twitter analytics video
https://www.ibm.com/blogs/business-analytics/business-analytics-finance-professionals-think-2018/ impressions: --my tweets being shown in other people's news feeds --(its just there doesn't mean somebody saw it) --(there's the opportunity to be seen _____ times) profile visits: --people that have gone to my profile page and looked at it --importance for pining important tweet at top of profile ---> gives impression of type of content i share Mentions: --how many times people mentioned me -- " the ats" new tweets = influence to the number of new followers -- more you tweet the more people will follow you Tweets linking to you: --tweets that are linking to your website, brand, cards, etc. --direct people to your sites top mention = top influencer About engaging and working with people Demographics --type of interest with the people that follow --gender, income, education, occupation, buyers, consumer behavior, mobile payment, etc. Twitter cards: --full on expansions (with photos and information from your website) --how often people are sharing your twitter cards 1) tweets 2) impressions 3) URL clicks Events: --related globally --different sizes Front page helps: --gauge what you are doing right --what's working/is not working twitter = great traffic driver
Twitter analytics link
https://www.quora.com/What-is-the-meaning-of-impressions-as-defined-by-Twitter-analytics-Where-does-this-number-come-from-Is-it-simply-a-reflection-of-how-many-followers-are-logged-into-Twitter-at-the-time-of-one%E2%80%99s-tweet impression = --a post or a tweet delivered to a Twitter account --interaction or engagement after the tweet has been delivered --the tweets sent that actually generate interaction or replies from others on Twitter tweet count = --the total number of tweets sent by an account profile click = --when a user clicks on your name, @name, or profile picture --leading them to profile page
TED Talk Big data and dangerous ideas Questions
https://www.youtube.com/watch?v=tLQoncvCKxs 1) About data more transparency of data / public knowledge = better behavior towards ourselves What can companies do with data? Who are firms selling data to? Should all information be made public? 2) About inferences; Who owns these inferences? Who is responsible for these inferences? What if we create algorithms that are prejudiced? --> who is responsible? 3) About decision making Have to be careful about how much power we give machines --> they can't contextualize things like humans -----> i.e. constraints Big data = catalyst for AI
TED Talk Big data and dangerous ideas Framework
https://www.youtube.com/watch?v=tLQoncvCKxs Framework for data driven decision making: 1) data --"given lings" (latin) --stuff: letters, pictures, on the internet. 2) information --data in context 3) knowledge --the organization of information --->identify patterns/trends 4) understaning 5) wisdom --the utilization of understanding --using understanding to make better decisions Data is not useful without context big data: --lots of symbols --more things (data) than you can process on a single machine link data --empowering machines to give meaning to data --will change the world --once we link data together and give meaning, we can start to organize it and ask very important questions to understand = use intelligence Computers find it hard to understand and interpret knowledge Artificial intelligence: --gather data, build and execute models, and make decisions in a computer intelligence = --goal-directed adaptive behavior
Ethics
moral principles that govern a person's behavior or the conducting of an activity
Big data on the blockchain means
more quality information for everyone
Chapter 14 Humanware
people are a part of all systems system influenced by environment rigidity in a system can be hurtful especially if the practices put into place are complex and leave no room to account for changes in the environment Human ware: --hard to change location --emotions can make processes harder People are important components of any system
Chapter 10 Political game
politics can: -- be a root problem for disarray in the workplace Aligning points of view and trying to get to consensus
Blockchain enough to turn the tide?
provides transparency and integrity for the ledger and the processes that build its blocks --not for the analysis of all the data role goes to creative blockchain firms who: 1) find ways to incentivize users to share their personal data with retailers 2) find strategies for retailers to harness an advantage greater than the one they currently employ in the centralized paradigm this is blockchain's modus operandi
Analytics
random math calculations to get the right answer first by processing transactions. Every 10 minutes a computer solves a block and all the transactions are in a ledger, recorded, and distributed to all the other nodes.
Internet of things
the network of physical devices, home appliances, and other items embedded with electronics, software, sensors, actuators, and connectivity which enables theses objects to connect and exchange data Changes world: - driving, purchasing, energy for homes Devices -Sensors and chips in objects around us -transmits valuable data to network -to better understand how they work and how they work together Share data and put it into work: -internet of things --> applies analytics -->historical DB, industry specific standards, rules/logic
Big data's real purpose
to derive value through organizing information and creating an actionable story
intelligence
(a.) the ability to acquire and apply knowledge and skills (b.) a person or being with the ability to acquire and apply knowledge (c.) the collection of information of military or political value
Analytics
(a.) the systematic computational analysis of data or statistics (b.) information resulting from the systematic analysis of data or statistics
What is the Semantic Web?
where all information is categorized and stored in such a way that a computer can understand it as well as a human