SPB 4304 Lecture Notes - Lecture 1: Big Data, Unstructured Data, Data Management
Document Summary
On theory of using analytics but not statistical analysis. Statistical data is becoming more and more relevant. Data crunchers are now the cool kids on campus article. Big data- collection of complex, large data sets that make it difficult to capture process, store search and analyze information using conventional database system. Need to sort to make information useful. 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. Allows for more improved and more informed decision making. Big data refers to - more of everything. Speed at which data is created, processed, stored and analyzed. Different forms of structured or unstructured data. Predictive- using existing data sets to determine patterns/ predict patterns. Prescriptive - recommendation of one or more courses of action as well as likely outcomes.
