ISYS ch 6 – Flashcards
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Information Type: Transactional
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Information that encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support daily operational tasks
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Information Type: Analytical
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Information that encompasses all organizational information, and its primary purpose is to support the performing of managerial analysis tasks
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Transactional Information
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Organizations need to capture and store transactional information to perform operational tasks and repetitive decisions such as analyzing daily sales reports and production schedules to determine how much inventory to carry
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Every time a cash register rings up a sale, a deposit or withdrawal is made from an ATM, or a receipt is given at a gas pump, capturing and storing of TRANSACTION information are required.
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Transactional
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Information is useful when making important decisions such as whether the organization should build a new manufacturing plant or hire additional sales personnel
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Analytical
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Analytical Information
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makes it possible to do many things that previously were difficult to accomplish, such as spot business trends, prevent diseases, and fight crime
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Walmart was able to use its massive amount of ANALYTICAL information to identify many unusual trends, such as a correlation between storms and pop-tarts.
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Analytical
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Airline Ticket, Packing Slip, Sales Receipt --> Database
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Transactional Information
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Product Statistics, Sales Projections, Future Growth, Trends --> Database
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Analytical Information
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Information Timeliness
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an aspect of information that depends on the situation
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Real-time Information
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immediate, up-to-date information
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Information Quality: Accuracy
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Is there an incorrect value in the information?
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Information Quality: Completeness
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Is a value missing from the information?
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Information Quality: Consistency
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Is aggregate or summary information in agreement with detailed information?
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Information Quality: Timeliness
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Is the information current with respect to business needs?
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Information Quality: Uniqueness
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Is each transaction and event represented only once in the information?
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Costs of using low quality information
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Inability to accurately track customers, Difficulty identifying the organization's most valuable customers, Inability to identify selling opportunities, Lost revenue opportunities from marketing to nonexistent customers, The Cost of sending nondelivable mail, Difficulty tracking revenue because of inaccurate invoices, Inability to build strong relationships with customers
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Information Governance: Data Governance
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Refers to the overall management of the availability, usability, integrity, and security of company data
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Relational Database Management Systems (RBMS)
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allows users to create, read, update, delete data in a relational database
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Database
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maintains information about various types of objects (inventory), events (transactions), people (employees) and places (warehouses)
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Structured Query Language (SQL)
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asks users to write lines of code to answer questions against a database
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Entity
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(also referred to as a table) stores information about a person, place, thing, transaction, or event
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Attributes
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(also called columns or fields) the data elements associated with an entity
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Relationships
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To manage and organize various entities within the relational database model, you use primary keys and foreign keys to create logical relationships
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Primary Key
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a field that uniquely identifies a given record in a table
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RBMS Advantages
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Increased flexibility, Increased scalability and performance, Increased information integrity, Increased information security, Reduced information redundance
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Foreign Key
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a primary key of one table that appears as an attribute in another table and acts to provide a logical relationship between the two tables
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Data Warehouse
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a logical collection of information, gathered from many different operational databases, that supports business analysis activities and decision-making tasks
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Developing customer profiles, identifying new-product opportunities, improving business operations, identifying financial issues, analyzing trends, understanding competitors, understanding product performance
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data warehouse is simply a tool that enables business users, typically managers, to be more effective in many ways
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Data Mart
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contains a subset of data warehouse information
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Extractions, Transformation, and Loading (ETL)
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a process that extracts information from internal and external databases, transforms it using a common set of enterprise definitions, and loads it into a data warehouse
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Multidimensional Analysis
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A relationship database that contains information in a series of two dimensional tables. It contains layers of columns and rows, often referred to as a cube.
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Information Cleansing
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a process that weeds out and fixes or discards inconsistent, incorrect, or incomplete information
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Data Mining
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the process of analyzing data to extract information not offered by the raw data alone
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Cluster Analysis
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a technique used to divide information sets into mutually exclusive groups such that the members of each group are as close together as possible to line another and the different groups are as far apart as possible
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Cleansing activities
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Missing records or attributes, redundant records, missing keys or other required data, erroneous relationships or references, inaccurate or incomplete data
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Association Detection
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reveals the relationship between variables along with the nature and frequency of the relationships
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Market Basket Analysis
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analyzes 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
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Statistical Analysis
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performs such functions as information correlations, distributions, calculations, and variance analysis
