MIS 301 Lecture Notes - Lecture 19: Data Mining, Acxiom, Lexisnexis

• School: UT-Austin
• Department: Management Information Systems
• Course: MIS 301
• Professor: Professor Choi

Document Summary

Mis 301 lecture 3. 3 - business intelligence and data mining. Cash register systems: online search history i. e. amazon tracks what you look up, order, what pages you looked at, etc, surveys (i. e. zara"s fashion store does it, enterprise software (crm, scm, erp, external sources. Data aggregators i. e. lexisnexis, acxiom these are firms that collect and resell data: data scraping. What can be done with collected data: after analyzing data, firms can. Discover what types of changes we should make to the layout of webpage. Tracked transactions increased insight increased sales. Bi systems: uses data from other systems to make reports, model data, conduct analysis, helps with organizational decision making, more data and information is available to businesses because: Computing costs are declining: more information leads to more insight that can provide competitive advantage or other benefits. Business analytics: uses data, statistical and quantitative analysis, explanatory and predictive models, and fact based management to drive decisions and actions.