IDSC 3001 Quiz C

data management

set of processes established by a company that includes acquiring, validating, storing, protecting, and processing

data management is used to ensure data is:

accessible, reliable, timely

master data management

process used to manage, centralize, organize, synchronize and share data according to the business rules/strategy of the company

relational database

simple, fast, and designed to handle vast amounts of data by enterprise applications

dominant database

relational and object-oriented

object oriented database

handle videos, music, pictures, drawings, images, etc.

data challenges

- data volumes are doubling in size about every two years

- organizations struggle to keep pace with their data

- data must be used to be valuable and that depends on clean data

essential part of master data management

data quality

entity one

person/consumer

- attributes: identifcation number, address, credit card number

entity two

product/item

- attributes: item number, item description, price, quantity on-hand

cardinality

defines the nature (degree) of relationships between entities

cardinality: one-to-one

each instance in the relationship will have exactly one related instance

cardinality: one-to-many

an instance on one side of the relationship can have many

cardinality: many-to-many

instances on both sides of the relationship can have many related instances on the other side

Database Management System (DBMS)

software for creating and managing databases

objectives of DBMS

- data independence

- data integrity

- capable of changes

- data sharing

- security

data independence

the database is protected from changes in the hardware, operating system, data storage

data integrity

hardware and software defects will not make the database inconsistent

capable of changes

to the data for new application and devices

- e.g. cars, homes, devices, wearables

data sharing

all the applications use on copy of the database

secuirty

only authorized individuals and programs can perform specific tasks and functions

object database

is a system in which data is represented in the form of objects (not table oriented)

Search Engine Optimization (SEO)

a systematic process of ensuring that your firm comes up at or near the top of lists of typical search phrases related to your business

three elements of SEO

- indexability: how open the design of a website is to search engine spiders and the potential for the content to be crawled and indexed

- relevance: requires targeting the most appropriate keywords and content

- authoritativeness: rewards populairty and industry visibility meaning that you need to have many links to your page

volume

large amount of data

velocity

speed of change

variety

different forms of data sources

veracity

uncertainty of data

value

added value for organization

big data

a broad term for datasets so large or complex that traditional data processing applications are inadequate.

- high volume, velocity, variety, veracity, and value of the data

why do people buy online

- lower prices

- accessibility and convenience

wider choice

why do businesses sell online

- higher margins

- scalability

- consumer insight/technology

e-commerce

the buying and selling of goods over the internet

advantages of e-commerce for business

- lower business costs

- more potential customers

- customer

disadvantages e-commerce

- privacy and security concerns

- slow website

- customer preferences

online marketing

any web-based strategy, method, or tool used to increase the awareness of a company's brand and its products/services

goal of online marketing

reach potential customers by targeting the places where they spend the most time online

online marketing characteristics

- strives to provide value to its viewers

- allows business to accurately track their results as well as provides detailed analysis to improve marketing strategies

traditional marketing characteristics

- seeks to increase sales

- provides little or no feedback on your results and rarely offers ways to track how well an ad or other traditional marketing strategy works

content marketing

- using content on internet to increase brand awareness, provide valuable information to custoemrs, generate leads, increase traffic

- primary goal: create and distribute relevant content that attracts a target demographic

Pay Per Click (PPC)

A concept where advertisers don't pay unless someone clicks on their ad

- charge company every time someone clicks on an ad

affiliate marketing

- provides a marketer with a commission for advertising its products or services

common way is PPC, pay per lead, pay per sale

how to get started with online marketing

- create a user friendly website

- research and incorporate keywords

- start a blog

- use email marketing tactics

- develop your social media

disadvantages of relational databases

- structure

- maintenance issues

- inflexibility

- lack of scalability

examples of big data

- New York stock exchange

- social media

advantages of big data processing

- businesses can utilize outside intelligence while taking decisions

- improved customer service

- early identification of risk to the product/service

- better operational efficiency

big data: structured

- data that can be stored, accessed, and processed in the form of fixed format

- e.g. employees table in a database

big data: unstructured

- any data with unknown form or the structure is classified as unstructured data

- poses multiple challenges in terms of its processing for deriving value out of it

- e.g. output returned by google search

big data: semi-structured

- contains both forms of data

- e.g. XML file

advantages of relational databases

- categorizing data

- accuracy

- ease of use

- collaboration

- security

how does a relational database work?

- each row holds a record with a unquie identifier known as a key and each column contains the attributes of the data

- used to organize and identify relationships between key data 9points