Ch1_Introduction_to_SW

Data Warehouse (DW)

A centralized repository for storing and analyzing data to support business intelligence and decision-making.

ETL

Extract, Transform, Load process; a data integration process that involves extracting data from various sources, transforming it into a suitable format, and loading it into a data warehouse.

OLAP

Online Analytical Processing; a category of software technology that enables analysts, managers, and executives to gain insight into data through fast, consistent, interactive access in a variety of ways.

DSS (Decision Support System)

A computer-based information system that supports business or organizational decision-making activities.

Non-volatile

A characteristic of data in a data warehouse where data once written is not changed or deleted but treated as static and read-only.

Subject oriented

A characteristic of data warehousing where data is organized around subjects, making it easier to understand and analyze data related to specific business domains like customers or products.

Integrated

Refers to the consistency of data from different sources in a data warehouse, ensuring all data is standardized and aligned.

Time-variant

A feature of data in a warehouse indicating that data is stored in a way that changes over time can be tracked and analyzed.

Operational Data Store (ODS)

A database designed to integrate data from multiple sources for additional operations on the data, typically with operational reporting.

Data Visualization

The graphical representation of information and data, used to communicate insights derived from the data analyses.

Business Intelligence (BI)

The strategies and technologies used by enterprises for data analysis of business information, aimed at supporting better business decision-making.

Real-time Data Feeds

Continuous input of data that is processed immediately, providing up-to-date information for timely decision-making.

Market Forecasting

The process of predicting future trends in a market based on available information and historical data.

Data Cleansing

The process of detecting and correcting (or removing) corrupt or inaccurate records from a dataset.

Data Warehouse Toolkit

A widely recognized reference book by Ralph Kimball and Margy Ross that provides methodologies for building data warehouses.

Complex Query

A request for data that involves multiple steps, such as joins, aggregations, and other operations that require significant computing power.

Snapshot of Operational Data

A stable view of operational data at a specific point in time, maintained in a data warehouse to support historical analysis.

Data Patterns

Trends or structures within datasets that can be analyzed to derive meaningful insights for decision-making.

Data Retention

The policies and practices that govern how long data is stored and maintained within a data warehouse.

Data Governance

The overall management and control of data assets within an organization to ensure data quality, consistency, and visibility.

Metadata

Data that provides information about other data, helping to organize, understand, and manage data resources effectively.

Data Mart

A subset of a data warehouse that is focused on a specific business line or team, making it easier to access and analyze relevant data.

Data Lake

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

Predictive Analytics

The field of analytics that uses statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data.

Time Series Analysis

A statistical technique used to analyze time-ordered data points to identify trends, seasonal patterns, and cycles.

Demand Forecasting

The process of estimating the future demand for a product or service based on historical sales data and market analysis.

Regression Analysis

A statistical method that examines the relationship between variables to understand how the typical value of the dependent variable changes when any one of the independent variables is varied.

Scenario Planning

A strategic planning method used to make flexible long-term plans by exploring and analyzing different possible future scenarios.

Market Segmentation

The process of dividing a broad market into subsets of consumers with common needs or characteristics to target them more effectively.

Qualitative Forecasting

Forecasting methods that rely on expert judgment, intuition, and subjective analysis rather than on statistical data.

Quantitative Forecasting

Forecasting methods that rely on numerical data and statistical techniques to predict future outcomes.

Leading Indicators

Economic factors that change before the economy starts to follow a certain trend, helping in predicting future market conditions.

Lagging Indicators

Economic factors that follow an event, used to confirm what has already happened in the economy.

Market Dynamics

Forces that impact the supply and demand of goods in a given market, including competition, price changes, and consumer preferences.