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