Chat with AIExam 15: The Data Asset: Databases, Business Intelligence, Analytics, Big Data, and Competitive Advantage
In database systems, a row is also known as a _____.
(37) 
VerifiedD
What are the issues to be addressed in order to design, develop, deploy, and maintain data warehouses and data marts?
(35) VerifiedOnce a firm has business goals and hoped-for payoffs clearly defined, it can address the broader issues needed to design, develop, deploy, and maintain its system:
-Data relevance: What data is needed to compete on analytics and to meet our current and future goals?
-Data sourcing: Can we even get the data we'll need? Where can this data be obtained? Is it available via our internal systems? Via third-party data aggregators? Via suppliers or sales partners? Do we need to set up new systems, surveys, and other collection efforts to acquire the data we need?
-Data quantity: How much data is needed?
-Data quality: Can our data be trusted as accurate? Is it clean, complete, and reasonably free of errors? How can the data be made more accurate and valuable for analysis? Will we need to "scrub," calculate, and consolidate data so that it can be used?
-Data governance: What rules and processes are needed to manage data from its creation through its retirement? Are there operational issues (backup, disaster recovery)? Legal issues? Privacy issues? How should the firm handle security and access?
-E-discovery refers to identifying and retrieving relevant electronic information to support litigation efforts. E-discovery is something a firm should account for in its archiving and data storage plans. Unlike analytics that promise a boost to the bottom line, there's no profit in complying with a judge's order-it's just a sunk cost. But organizations can be compelled by court order to scavenge their bits, and the cost to uncover difficult to access data can be significant, if not planned for in advance.
Why would a firm choose Hadoop for a big data project instead of using conventional relationial databases?
(39) VerifiedRoughly 80 percent of corporate data is messy and unstructured, and it is not stored in conventional, relational formats. Conventional tools often choke when trying to sift through the massive amounts of data collected by many of today's firms. The open-source project known as Hadoop was created to analyze massive amounts of raw information better than traditional, highly structured databases.
Hadoop advantages include:
-Flexibility: Hadoop can absorb any type of data, structured or not, from any type of source (geeks would say such a system is schema-less). But this disparate data can still be aggregated and analyzed.
-Scalability: Hadoop systems can start on a single PC, but thousands of machines can eventually be combined to work together for storage and analysis.
-Cost effectiveness: Since the system is open source and can be started with low-end
The San Francisco Giants leverage business analytics to price game tickets. What factors are considered? What are the risks associated with allowing prices to fluctuate?
(30) _______________ refers to type of artificial intelligence that leverages massive amounts of data so that computers can improve the accuracy of actions and predictions on their own without additional programming
(37) Any data-centric effort should involve input not only from business and technical staff, but from the firm's legal team, as well.
(30) Turning data into useable information is hindered by transactional databases set up to be simultaneously accessed for reporting and analysis.
(44) A(n) _____ is an AI system that examines data and hunts down and exposes patterns, in order to build models to exploit findings.
(26) The open-source project known as ____________ was created to analyze massive amounts of raw information better than traditional, highly structured databases.
(33) A _____ is a system that provides rewards and usage incentives, typically in exchange for a method that provides a more detailed tracking and recording of consumer activity.
(43) ??????????????Database technology known by the term __________________ is especially popular with Internet firms that rely on massive, unwieldy, and disparately structured data; and this technology is often at the heart of what are often characterized as "big data" efforts.
(38) Data obtained from outside sources, when combined with a firm's proprietary internal data assets, can give the firm a competitive edge.
(28) Data are raw facts that must be turned into information in order to be useful and valuable.
(38) Why do many organizations have data that cannot be converted to actionable information? What are the hurdles faced by firms that attempt to query transactional databases?
(40) _____ is the term used to describe some form of business exchange.
(40) Walmart uses_____ technology to sift through massive amounts of social media data.
(39) _____ refers to a job title focused on directing, performing, or overseeing activities associated with a database or set of databases.
(33) 
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