MIS ch 12 - databases
Terms in this set (53)
the extensive use of data, statistic, and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions
computer software that seeks to reproduce or mimic human thought, decision making, or brain functions
business intelligence (BI)
a term combining aspects of reporting, data exploration, and ad hoc (tools that put users in control) queries, and sophisticated data modeling and analysis
uses data created by other systems to provide reporting and analysis for business decision making
integrates data onto a unified interface (info from all areas)
helps make strategic decisions that are key to business success
the process of discovering new patterns from large data sets
The process of using computers to identify hidden patterns in, and to build models from, large data sets.
For data mining to work:
(1) the organization must have clean, consistent data, and
(2) the events in that data should reflect current and future trends. The recent financial crisis provides lessons on what can happen when either of these conditions isn't met.
a single table or a collection of related tables, lists of data (Ex. sales, product return, inventory, payroll)
Ex. Itunes, Google, Canvas
specialized databases for recording transactions
databases that aggregate data from multiple sources in order to support reporting and analysis.
Oracle is the market leader and controls MySQL, SQL server is 2nd
table or files + relationships among rows in tables + metadata = database
a collection of forms, reports, queries, and application programs that process a database
database management system (DBMS)
"database software", software for creating, maintaining and manipulating data Ex. Oracle
a computer system that emulates the decision-making ability of a human expert in their job, by learning their thought processes
AI systems that leverages rules or examples to perform a task in a way that mimics applied human expertise.
a smaller piece of data from a larger collection;
a record label
non-key column or field in one table that links to a primary key in another table
a component-based representation of a GUI window ??
older information systems that are often incompatible with other systems, technologies, and ways of conducting business.
Incompatible legacy systems can be a major roadblock to turning data into information and they can inhibit firm agility, holding back operation and strategic initiatives
a pricing strategy where a product is sold at a price below its market cost to stimulate other sales of more profitable goods or services
systems that provide rewards and usage incentives, typically in exchange for a method that provides a more detailed tracking and recording of customer activity.
In addition to enhancing data collection, loyalty cards can represent a significant switching cost
EX: Hilton reward points and membership levels
market basket analysis
retailers seek to understand the purchase behavior of customers
data that describes data
online analytical processing (OLAP)
an approach to answering multi-dimensional analytical queries swiftly,
part of business intelligence
A method of querying and reporting that takes data from standard relational databases, calculates and summarizes the data, and then stores the data in a special database called a data cube
program (typically a marketing effort) that requires customer consent.
This program is contrasted with opt-out programs, which enroll all customers by default
column or group of columns that identifies a unique row in a table
a precise request for information retrieval with database and information systems
or row, a row in a database table. Records represent a single-instance of whatever the table keeps track of
common keys or connections between sets of data
information work that relays certain information in a presentable form
"snapshot" of a specific moment in time
analyzing and ranking customers according to purchasing patterns
a way to analyze the profitability of customers (how RECENT they ordered, how FREQUENTLY they order, how much MONEY they spend)
helps firms decide who to give coupons to
Structured Query Language (SQL)
a language used to create and manipulate databases
or file: a list of data, arranged in columns (fields) and rows (records) contained in a record (first name, last name, date of birth)
some kind of business exchange
What is the relationship between a database, DBMS, and a database application?
A database is a single table or a collection of databases. These databases are created, maintained, and manipulated using DBMS. The database applications, a collection of forms, reports, queries, and application programs, are used to process the database and make it work best for you.
2. What is the strategic value of having a database?
a. Databases allow data to be organized and stored in order to be analyzed for the increase of firm business
What are three tactical advantages to using a database?
A database allows you to analyze costs and purchases, keep track of employees, and filter data.
what is a primary key?
a column or group of columns that identifies a unique row in a table
what is a foreign key?
non-key column or field in one table that links to a primary key in another table
How are keys used to connect tables in a database?
These keys make databases relational and connect data to each other in order to solve a complex task or function. They search to unlock encryptions and connect different types of data.
How is the combination of increasingly standardized data, access to third-party datasets, cheap, fast computing and easy-to-use software collectively enabling a new age of decision making?
Decision-making is different now because so many firms have access to data with partner firms are open source.
They can pay third-party sources for data and information while also gaining information from their databases.
Most firms can have high-level computing power because it is now at a lower cost with a bigger focus on software, enabling firms to know much more about consumers and industries to make better decisions and resulting in less failure.
What are the various internal and external sources for enterprise data?
The internal sources of enterprise data are the CRM, SCM, and ERP systems.
External sources of enterprise data are third-parties, partner firms, household income, info on weather, gas prices, and employment statistics.
Who is collecting data about you?
Everyone is collecting data about you. Fill out any type of information card, survey, or membership and people know basic information about you.
There are data aggregators that are firms that collect and resell data to firms.
What are the privacy implications of ubiquitous data collection?
There are many concerns about the privacy during data collection because of the increase in technology.
Through legislation, there has been laws made with health data, finance data and with young Web surfers, but we are losing more and more of our personal lives.
What are the problems with transactional (operational) data?
raw data is sometimes unsuitable for sophisticated reporting or data mining
dirty data (misspelled words)
values may be missing
data is too fine (too detailed, EX: data about every single click on a high traffic website)
data is too coarse (too high level to be useful)
What tools are available to turn data into information?
How has Wal-Mart leveraged information technology to become the world's largest retailer?
11. How has Harrah's used IT to move from an also-ran chain of casinos to become the largest gaming company based on revenue?
What are some of the technology innovations that Harrah's is using to help it gather more data, and help push service quality and marketing program success?
12. Be able to perform an RFM analysis on a small data set. Be able to interpret RFM results. (See the data mining slides for more information)
4 BI systems
3. knowledge management
4. expert systems
load (into data warehouse - where more specific Q's can be answered)
integrates data from multiple places
processes data by sorting, grouping, summing, averaging, and comparing
results are formatted into reports
processes data using statistical techniques
looks for patterns and relationships to anticipate events or predict outcomes
EX: maker basket analysis (see what items are usually bought together), predict donations
knowledge management systems (KM)
employees make contributions by sharing data and knowledge
gathering the knowledge of all employees
passes on expert knowledge to new employees
makes all employees as valuable as possible
improves decision making and diagnosis on non-experts
reasons to use database
1. data integrity (making sure data is accurate)
2. no data redundancy
3. limits access on a need to know basis
parts of a database
1. tables and files
2. relationships between rows and columns
forms - CRUD
creates, read, update, delete
EX: stores will create a bundle coupon during cold season so you will also buy tylenol, cough drops, etc
getting customer to buy more expensive items
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