Data and Competitive Advantage: Databases, Analytics, and Prepping Data for Use with AI

Flashcards highlighting key concepts related to data, analytics, and competitive advantage in business technology management.

Big Data

The collection, storage, and analysis of extremely large, complex, and often unstructured data sets used by organizations to generate insights.

Business Intelligence (BI)

A term combining aspects of reporting, data exploration, ad hoc queries, and sophisticated data modeling and analysis.

Analytics

Extensive use of data, statistical and quantitative analysis to drive decisions and actions.

Machine Learning (ML)

A type of artificial intelligence that leverages massive amounts of data so that computers can improve accuracy without additional programming.

Dynamic Pricing

Setting prices in real or near-real time to maximize sales and profits.

Data Warehouse

A set of databases to support decision-making in an organization, structured for fast online queries and exploration.

Data Mining

The process of using computers to identify hidden patterns and build models from large datasets.

Blockchain

A distributed, peer-to-peer system that creates a secure digital ledger of transactions using cryptographically linked chains of blocks.

ETL

Extract, Transform, Load; the process of copying data from multiple sources, transforming it into a common format, and loading into a usable format.

Query Tools

Tools that interrogate a data source to return data subsets based on criteria.