OMIS 3710 Chapter 15: The Data Asset: Databases, Business Intelligence, Analytics, Big Data, and Competitive Advantage

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York University
Operations Management and Information System
OMIS 3710
Henry Kim

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 o Micro (e.g. data aggregators) o Macro (e.g. Stats Canada, Gartner Group report) 15.4 Data Rich, Information Poor  A major factor limiting business intelligence initiatives is getting data into a form where
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