Key Concepts in Digital Business and Data Management

IPv6

128-bit address format for internet devices.

IPv4

32-bit address format for internet devices.

Impression

A metric representing the number of times an ad is displayed.

API

A set of instructions on how to ask for a resource.

Intelligent Personal Assistant (IPA)

AI systems like Alexa and Siri that assist users with various tasks.

Social search

AI-based search features on platforms like Facebook and Instagram, including image search based on content and not tags.

Artificial Intelligence

Ability of a machine to imitate intelligent human behavior.

Veracity

Accuracy and trustworthiness of data.

Centralized Database Architecture

All the data is in one spot, better security, harder to access (target example)

Cost of customer acquisition (CoCA)

Amount of money spent to attract a paying customer.

Deliverables

Any measurable outcomes of a project.

Machine learning

Application of AI that allows a system to automatically learn and improve from experience.

Project Management

Application of knowledge to conquer a project.

Deep learning

Application of machine learning that uses complex algorithms and deep neural networks.

PPC advertising campaigns

Campaigns that set an overall budget, create ads, select associated keywords, and set up billing account information.

CTR

Clicks / Impressions.

Record

Collection of related fields in a data file.

Enterprise Mashups

Combines business data and applications from multiple sources.

ERP Value-Added Reseller (VAR)

Company that sells, implements, supports, and guides companies in their ERP experience.

Proof of Work (POW)

Consensus mechanism rewarding first to solve.

Critical Path Analysis

Consists of all tasks needed to be done from start to finish.

Implementation

Conversion of the old system to the new system.

Descriptive data analytics

Creates summary of historical data to yield useful information.

Metadata

Data that describes and provides information about other data.

Packet Switching

Data transferred in packets, reassembled at destination.

RDBMS

Database management system for structured data.

Blockchain

Decentralized ledger of immutable transactions.

Functional Business Systems (FBS)

Designed to improve the efficiency and performance of a specific functional area within the organization.

Business Management System (BMS)

Designed to support planning and the implementation process across the entire organization.

Feasibility study

Determines the probability of success of a proposed system.

Modem

Device for modulating and demodulating signals.

Variety

Diverse data sources including unstructured data.

Digital Dependents

Emerging generation growing up in a world of broadband connections and constant connectivity.

Cost of Customer Acquisition (CoCA)

Equation: CPC x # of clicks = Total Ad Spend → Total Ad Spend / # customer sales.

Data Mining

Finding patterns in data using algorithms.

Digital natives

First digital generation surrounded by digital devices and Internet connectivity.

Traditional File System

Independent files causing redundancy and inconsistency.

Transaction Processing

Information processing that is divided into distinct, undividable operations called transactions.

Information System

Input -> processing -> output -> storage -> feedback (then goes back to input)

Volume

Large amounts of data analyzed for insights.

Risk Register

Lists all risks and everything that could go wrong in a project.

Predictive analytics

Makes predictions based on analytics.

Quality of Service (QoS)

Management of data traffic for performance optimization.

Bandwidth

Maximum data transmission rate in bits per second.

Semantic Web

Meaningful computing using metadata; application of natural language processing (NLP) to support information retrieval, analytics, and data integration.

Distributed Database Architecture

Multiple database spots, higher security risk, easier to access

System Development Life Cycle (SDLC)

Multiple stage approach used by IT professionals to develop high-quality information systems.

Botnet

Network of infected computers controlled remotely.

Digital Immigrants

Older consumers that fundamentally view retail channels as separate and distinct.

Circuit Switching

Older technology for establishing dedicated communication paths.

Logistics Management

Optimize transportation systems, coordinate with suppliers, integrate supply chain technologies, and manage distribution networks.

Return on advertising spend (ROAS)

Overall financial effectiveness of an advertising campaign.

Denial of Service Attack

Overloading a system to disrupt service availability.

Scope Creep

Piling up of small changes that by themselves are manageable but in aggregate are significant.

Cyberthreat

Potential malicious attempts via the internet.

Intranet

Private network for internal company use.

Semantic Search

Process of typing something into a search engine and getting more results than just those that feature the exact keyword typed.

Spiders

Programs that go out and find information about certain things.

Signal Frequency Spectrum

Range of frequencies in a signal.

Extranet

Remote access to private company networks.

Digital Dashboards

Reporting style that depicts KPIs automatically and securely.

Triple Constraint

Scope, time, cost; factors that affect project success.

Near-Field Communication (NFC)

Secure data transfer between close devices.

Virtual Private Network (VPN)

Secure network using encryption for data transmission.

Bluetooth

Short-range wireless technology for device pairing.

Truncating

Shortening or cutting off in a graph.

Keyword Conversion

Should lead to sales, not just visits.

Conversion

Should lead to sales, not just visits; measured as sales / clicks.

Declarative language

Simplifies data access by requiring that users only specify what data they want to access without defining how they will be achieved

Malware

Software designed to harm or exploit systems.

Enterprise Resource Planning (ERP)

Software used by organizations to manage and integrate various business processes across departments.

Velocity

Speed of data access and report generation.

Business Continuity Planning

Strategies to maintain operations during disruptions.

Geographic Information System (GIS)

System that uses and displays geographic data.

Mobile search

Technically configured mobile sites, content designed for mobile devices.

Project

Temporary endeavor undertaken to create something unique.

Business Intelligence (BI)

Tools for strategic decision-making using data.

Data Breach

Unauthorized access and retrieval of sensitive data.

Hacking

Unauthorized access to computer systems.

Internet Protocol (IP)

Unique address for devices on a network.

Non-Fungible Token (NFT)

Unique digital asset on a blockchain.

NFTs

Unique digital assets that can't be interchanged with other NFTs.

Click through rates (CTR)

Used to evaluate keyword selection and ad copy campaign decisions.

SQL Statement

User commands to query database information.

Prescriptive data analytics

Uses optimization technology and machine learning to find the best course of action.

Click through

When you click on one of the items you had an impression for.

Wi-Fi

Wireless networking standard for internet connectivity.

Cloud computing

a computing model where processing, storage, software, applications, and a variety of services are provided over a network, mainly access via the internet

Data Analytics

analyzing data set to reveal patterns, often relating to human behavior/interaction, or to enhance productivity

Cloud services

any computing resource provided over the Internet on demand, rather than run applications from software stored on company owned servers or computer

Customer Experience (CX)

building digital infrastructure that allows customers to do whatever they want to do, through whatever channel they choose to do it

Database

collection of tables, relationships, and metadata. DBMS helps to organize data found in database (the system)

Batch processing

collects all transactions for a time period, then processes the data and updates the data store

Machine to machine (M2M) Technology

enables sensor-embedded products to share reliable real time data via radio signals

Big Data

extremely large dataset that is too large/ complex to be analyzed using traditional data processing techniques.

SDDC (Software-Defined Data Center)

facilitates the integration of the various infrastructure silos within organizations

Mega trends

forces that shape or create the future of business, the economy, and society

On demand economy

fulfilling needs immediately

Components of an Information System

hardware, software, people, procedures, network, hardware (all leads to data)

Business model

how an enterprise generates revenue or sustains itself

Digital business model

how business makes money via digital technology

Structured Query Language (SQL)

is an example of declarative language

Key Performance Indicators (KPIs)

measure financial, social media, sales and marketing, operation and supply chain, or environmental data. KPI examples: Current ratio, accounts payable turnover, net profit margin, new followers per week, cost per lead, order status

Measuring Success: KPIs

measures that demonstrate the effectiveness of a business process at achieving organizational goals. They present data in easy-to-comprehend and comparison-ready formats. (aim for 4 in the project)

Social-mobile-analytics-cloud (SMAC)

model of the integration of cloud, mobile, and social technologies. The cloud forms the core. Mobile devices are the endpoints. Social networks create the connection.

Unstructured data

no predictable format

Digitization

process of transforming any kind of activity or information into a digital format that can be collected, stored, searched, and analyzed electronically - and efficiently

OLTP

processes each transaction as it occurs (real-time)

Relational DBMS

provides access to data using declarative language

Extract, transform, load (ETL)

putting data into the form the EDW needs

Enterprise Data Warehouses (EDW)

repository of non operational data. Extract copy of operational database. Batch over into the warehouse. Can facilitate the analysis of data from multiple sources.

Virtualization layer

responsible for how resources (storage, memory, and processors) are going to be used to store in the cloud

Internet of Things (IoT)

set of capabilities enabled when physical things are connected to the internet via sensor

DBMS

software program designed to organize and administer a database

Data mart

subsidy of whole data (finding info about Chapman students in Argyros, instead of all of Chapman)

Data silos

trapping information in stand alone data stores not accessible by other information systems

Online Analytical Processing (OLAP)

used in report creation/analysis, analytical calculations, forecasting, etc. Views from different perspectives, can be exported into more user friendly bases. Uses data cubes