SPB 4304 Lecture Notes - Lecture 1: Big Data, Unstructured Data, Data Management
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Sports Business Analytics
Class #1 Notes
May 16, 2017
Important Things about this class
- No computers in class unless specified
- No cell phones
- Discussion Based
- On theory of using analytics but not statistical analysis
- Buy Book on Amazon
Introduction on Big Data and Analysis
- Video on Big Data
- “Data crunchers are now the cool kids on campus” article
- Statistical data is becoming more and more relevant
Big Data- collection of complex, large data sets that make it difficult to capture process, store
search and analyze information using conventional database system
- Aggregation of information
- Too much information
- Need to sort to make information useful
- Requires more complex database systems
- This is how analytics comes into play
- Information is being taken all the time
Data- facts and/or infromation used to calculate, analyze or plan something, or if the infromation
is produce or stored by a computer
Analytics- process and insights derived from big data.
General Objective of Big Data and Analytics
- Revenue
- Improve quality/quantity of data
- Allows for more improved and more informed decision making
Big data refers to - more of everything
3 V’s of Big Data
- Increase in volume
- Scale and scope of data
- Greater velocity of data
- Speed at which data is created, processed, stored and analyzed
- Enhanced Variety of data
- Different forms of structured or unstructured data