UGA MIST 2090 Quiz 5 – Flashcards
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Uni-Directional Marketing Message
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company can control the message
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*4 P's*
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*product, price, place, promotion*
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majority fallacy
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assuming the majority is the target market
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Multi-directional conversation
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Company does not control the message - people do
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*4 C's*
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*customer, cost, convenience, communication*
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Bidirectional conversation
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users are actively involved
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Customer Relationship Management (CRM)
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a philosophy and a strategy supported by a system and a technology, designed to improve human interactions In a business environment
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Business intelligence
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computer-based techniques used in identifying, extracting, and analyzing business data for decision making
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*Data mining*
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*discovering new patterns from large data sets*
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*3 V's*
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characterizes big data *Volume, Variety, Velocity*
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Volume
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The amount of data available is greater than firms' ability to process it—and it is growing
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Variety
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Big data is often "messy." It doesn't fit neatly into a database and may require pre-processing to extract structure
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Velocity
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Data "arrives" rapidly and continuously
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*Instrumented*
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-Sensors on oil rigs, digital meters for energy use, etc. -These sensors generate data for storage and analysis
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*Interconnected*
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-Instrumented devices have to talk to each other -A trillion intelligent objects: bridges, cars, appliances, smartphones, roadways, pipelines, livestock, etc.
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*Intelligent*
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-New computer models can handle the deluge of data and turn it into intelligence that can be translated into business strategy
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Examples of Big Data in use
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1. Credit card fraud detection using realtime consumer purchase data 2. Using GPS records for traffic forecasting; flow IBM Smarter Cities initiative makes public transportation even more efficient 3. Netflix producing original media content based on viewer data to ensure an audience House of Cards
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data structure
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the sum of rules concerning different forms of data and their associations to each other
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*three basic elements of a data model*
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*entities, attributes, primary key*
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entities
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"recognizable objects" (think: person, place or thing) that you need to store data about - an entity might be a "student"
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attributes
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the categories of description for an entity - what you are interested in about the entity? - attributes of the student include last name, first name, date of birth, gender, etc.
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primary key
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is a type of attribute, but it is the type of attribute that uniquely identifies the entity. So for a student the primary key is the 810/811 number
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relationships
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entities are related to each other. For example a "student" entity may be related to a "course" entity. Students take courses.
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Cardinality
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describes that relationship. If a student can take one or more classes, we refer to this as one-to-many cardinality and represent it by 1:N.
