BMGT 230 Chapter Notes - Chapter 2: Database Administrator, Data Warehouse, Predictive Analytics

• School: University of Maryland
• Department: Business and Management
• Course: BMGT 230
• Professor: Lazar

Document Summary

Businesses rely on the information in data to compete in the global marketplace. Most modern businesses collect information on virtually every transaction performed by the organization, including every item bought or sold. Business analytics (analytics)- any use of statistical analysis to drive business decisions from data whether the purpose is predictive or descriptive. Data mining (predictive analytics)- process of using data to make other. Transactional data- data collected for recording the companies". The five w"s provide context for data values and make them meaningful decisions and predictions transactions. Variable- the aspect/characteristic that differs from subject to subject, individual to individual. Cases- entity about whom or what we have data. A scatter plot shows the relationship between two quantitative variables measured on the same case. Participants- people on whom we experiment in an attempt to acknowledge the importance of their role in the experiment. Experimental units- animals, plants, websites, other inanimate subjects.