Business Intelligence: Big Data & Analytics

These flashcards cover key vocabulary and concepts related to Business Intelligence, Big Data, and Analytics as discussed in the lecture notes.

Business Intelligence (BI)

A set of technological processes for collecting, managing, and analyzing organizational data to yield insights that inform business strategies and operations.

Big Data

Enormous amounts of data that traditional processes are incapable of handling, characterized by its volume, velocity, variety, and veracity.

Data Warehouse

A large database that holds business information from many sources in the enterprise, covering all aspects of a company's processes, products, and customers.

Data Mart

A subset of a data warehouse used by specific departments within a company to support decision making.

Data Lake

A storage repository that holds a vast amount of raw data in its native format until it is needed.

NoSQL Databases

Databases that differ from relational databases, allowing for more flexible data models, not requiring a predefined schema, and using horizontal scaling.

Hadoop

An open-source software framework used to store and process extremely large data sets across clusters of computers.

MapReduce

A programming model for processing large data sets with a distributed algorithm on a cluster.

In-Memory Database (IMDB)

A database that stores data in the main memory (RAM) for faster access compared to traditional databases.

Predictive Analytics

Techniques for analyzing current data to identify future probabilities and trends.

Descriptive Analysis

The preliminary processing stage involving identification of data patterns and answering key questions about the data.

Data Mining

A BI analytics tool that explores large sets of data for hidden patterns, predicting future trends and behaviors.

Optimization

The allocation of scarce resources to minimize costs or maximize profits through various methods like genetic algorithms and linear programming.

Self-Service Analytics

Processes and tools that empower end users to independently access and analyze data.