MIS 301 Chapter Notes - Chapter 15: Demand Forecasting, Relational Database Management System, Itunes
Document Summary
The data asset: databases, business intelligence, analytics, big data, and competitive advantage. Amount of data on corporate hard drives doubles every six months. Collective number of those bits already exceeds the number of stars in the universe sophisticated data modeling & analysis. Term used to describe massive amounts of data available to managers. Business intelligence (bi) = combines reporting, data exploration & ad hoc queries, Analytics = using data for better decision making. Machine learning = ai that uses big data to improve accuracy & create predictions. Data can be a true strategic asset when rare, valuable, imperfectly imitable, and lacking in substitutes. Sports teams use analytics from (austin-based) qcue to fill seats/max. The amount of data being created doubles every two years. 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.