MIS 180 #2 Test 1 ch 1-2

(IoT) Internet of things aka Machine to Machine (M2M)

A world where interconnected Internet enabled devices or "things" can collect and share data without human intervention. Security issues consist of individuals being able to hack into these systems and control your everyday lives (turn off your water, lock your car)

Departmental Companies

Accounting: Finance:

transformation from Data to Knowledge

Data: I have one item Information: The item I have is a product that has the most sales during the month of December Business Intelligence: The month of December this year is going to see interest rates rise by 10% and snow stores are expected to cause numerous problems throughout the East coast Knowledge: Given the unexpected financial issues caused by the storms and the interest rate hike we will offer a discount on purchase in November and December to ensure sales levels increase by 10%

(M2M) Machine to Machine aka (IoT) Internet of things

Devices that connect directly to other devices Security issues consist of individuals being able to hack into these systems and control your everyday lives (turn off your water, lock your car)

big data

a collection of large, complex data sets, including both 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 ex: change in price and quantity ordered

report

a doc. containing data org. in a table, matrix, or graphical format allowing users to easily comprehend and understand information cover a wide range of subj. or specific subj. for a certain time period or event

snapshot

a view of data at a particular moment in time useful for understanding individual sales but do not provide much insight into how a company is operating as a whole

dynamic report

changes automatically during creation can include updating daily stock market prices or the calculation of available inventory

static report

created once based on data that doesn't change can include a sales report from last year or salary report from five years ago

information

data converted into a meaningful and useful context humans need information/computers and machines need data gives meaning and context to analyzed data making it insightful for humans providing context and structure thats valuable when making informed business decisions

machine-generated data

data created by a machine without human intervention Ex: sensor data, point-of-sale data, and web log data

structured data

data that has a defined length, type, and format and includes numbers, dates, or strings such as a Customer Address Typically stored in a traditional system like a relational database or spreadsheet and accounts for about 20% of the data that surrounds us. Structured data consists of: Machine Generated Data and Human Generated Data

human-generated data

data that humans, in interaction with computers, generate Ex: input data, click-stream data, or gaming data

unstructured data

data that is not defined and does not follow a specified format and is typically free-form text such as emails, Twitter tweets, and text messages. accounts for about 80% of the data that surrounds us consists of: Machine-generated unstructured data and Human-generated unstructured data

predictive analytics

extracts information from data and uses it to predict future trends and identify behavioral patterns a big part of business intelligence

knowledge worker

individuals valued for their ability to interpret and analyze information what todays workers are commonly referred to as

(BI) business intelligence

information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyze patterns, trends and relationships for strategic decision making manipulates multiple variables such as interest rates, weather conditions, and even gas prices deals with both internal and external factors

data

raw facts that describe the characteristics of an event or object. computers and machines need data/ humans need information

Machine-generated unstructured data consists of

satelliite images, scientific atmosphere data, and radar data

knowledge

skills, experience, and expertise coupled w information and intelligence that creates a persons intellectual resources.

Human-generated unstructured data consists of

text msgs, social media data, and emails

analytics

the science of fact-based decision making

behavioral analytics

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