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Chapter 15

OMIS 3710 Chapter Notes - Chapter 15: Affinity Analysis, Data Lake, Fraud


Department
Operations Management and Information System
Course Code
OMIS 3710
Professor
Henry Kim
Chapter
15

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Chapter 15: The Data Asset: Databases, Business Intelligence, Analytics, Big Data, and
Competitive Advantage
15.1 Introduction
In many organizations, available data is not exploited to advantage. However new tools
supporting big data, business intelligence, and analytics are helping managers make
sense of this data torrent.
Data is oftentimes considered a defensible source of competitive advantage; however,
advantages based on capabilities and data that others can acquire will be short-lived.
Data Asset Definitions
Big Data is a general term used to describe the massive amount of data available to
today’s managers.
Big data are often unstructured and are too big and costly to easily work through use of
conventional databases, but new tools are making these massive datasets available for
analysis and insight.
Business Intelligence (BI): A term combining aspects of reporting, data exploration and
ad hoc queries, and sophisticated data modeling and analysis.
Analytics: A term describing the extensive use of data, statistical and quantitative
analysis, explanatory and predictive models, and fact-based management to drive
decisions and actions.
Unstructured: voice, images, audio, free text
15.2 Data, Information, and Knowledge
Data-Driven Decision-Making
o Data raw facts
o Information data presented in context to support decision-making
o Knowledge insights gained from experience and expertise
Database: a collection of related tables
o Database Management Systems (DBMS): software for creating, maintaining, and
manipulating data
o SQL (Structured Query Language): a language used to create and manipulate
databases
15.3 Where Does Data Come From?
From Transactional Processing Systems (TPS): Systems that record a transaction (some
form of business-related exchange), such as a cash register sale, ATM withdrawal, or
product return.
From Enterprise Software (ERP, SCM, CRM)
From external sources
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