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Digital business Digital business refers to digital technologies to transform tranditional business processes, operations and customer interactions. Key characteristics: • Leverage digital platforms • data-driven decision making • personalised customer experiences, products or services (Netflix, Amazon, Google) • agile and innovative business moodels and revenue streams Increasingly vital due to rapid advancements of technology and changing consumer behaviors. Digital business models often disrupt traditional industries and challenge existing players (e.g. Webjet, Uber, AirBnB) What are Digital Technologies? • Electrical equipment and devices • Applications • Infrastructure • Networks Digital Techologies store, generate, process and transport data across interconnected networks. Digitisation Is the process of converting information from a physical form into a digital one. For example: Scanning a paper document to turn it into a digital file or converting old photos into digital images. It helps store, share and use information more easily on computoers and other devices. Digitalisation Means using technology to improve how business works. Its not just about turning paper files into digital one, its about using new techonologies to make things faster, efficient, and better for customers. Companies change the way they operate, find new ways to work, and use digital tools to stay competitive in todays world. Digital Tranformation Is when businesses use technology to completely change how they work and serve customers. It is more than just using digital tools, its about improving proceeses, creating new ways to operate, and staying competitive in a fast-changing digital world. For example, a store moving from physical shops to an online business or bank using mobile apps instead of only in-person services. Digital Transformation Is about leveraging digitalisation to improve business operations and gain competitive advantage. Example: An ERP System is an ecosystem of interconnected business applications and Data. ERP helps organisations manage and automate core businesses processors across departments, such as supply chain, HR, finance and manufacturing. All aspects of business are internally intergrated. Answering Questions • Define the concept involved • Describe how the concept occurs in the case • Explain the evidance thhat supports the answer • Answer: Have you answered the question proberly? • Everything must be in your own words, anything else is plagiarism Big Data Definition "Big Data is high volume, high velocity and high variety information assets that demand cost-effective, innovaive forms of information processing that enable enhanced insight, decision making, and process automation" (Gartner, 2017) "Data is BIG, when the size of data becomes part of the problem" (Magoulas, 2019) Volume- Amount of Data, Scale Variety- Range of data types and sources Velocity- Speed of the generation of new data and... Analysis- big data requires cost-effective, innovative forms of information processing to enable insight and decision making. Charateristics of Big Data: Variety Structure data- can include: numbers, labels, formulae. Typically it fits neatly into a spreadsheet. Unstructured data- Can include: SMS, MMS, audio, video, radio waves, GPS, anything that doesnt fit neatly into a spreadsheet. Typically, big data is Semi-structured data as it is a combination of structures and unstructured. Velocity Relates to speed, data is being generated quickly and needs to be processed in real-time to useful. Real-time analytics is required, new tools, skills and methods. Late decisions means missing opportunities. E.g. Streaming data, data such as digitised maps, weather, patterns, GPS locations, customer history, reviews, and other data is being analysed using algorithms to give uber drivers real-timeinformation such as length of drive, proximity to passengers, and to calculate the fare. Volume- Data Volume is increasing exponentially Velocity- Data needs to be analysed quickly Variety- Different types of structured and unstructured data. Where does data come from? Big Data in Healthcare Benefits • Preventitive vs reactive • Reduced healthcare infrastructure costs • Reduced death, longer life expectancy • fewer cases of preentable diseases • Less strain on emergency services Challenges • Privacy issues • Digital divide: technology accessibility • Data security issues • Less responsibility for health • Increased popultion/ life expectancy • Ethical challenges • Descriptive Analytics • Explains what has happened (historic) • using data agregation and data mining to provide insight into the past. • Describe and summarise raw data to make it interpretable by humans • Decriptive analytics are useful because they allow us to learn from past behaviors and understand how they might influence future outcomes. Diagnostic Analytics • Explains why something happened (historic) • E.g. for social media marketing campaign, you can use diagnostic analytics to access sudden changes to site visitor activity. • takes the insights found from what descriptive analytics and drills down to find the causes of those outcomes. Predictive Analytics • Explains what might happen in the future • use statistical models and forcast technique to understand the future based on probabilities. • combined transactional and historical data such as ERP, CRM,HR and POS systems to identify patterns in the data and apply statistical models and algorithms to capture relationsips between various data sets. • Use predic likely outcomes Prescriptive Analytics • Recommends an action based on the forecast (future) • use optinisation and simulation algorithms to advice on possible outcomes and recommend best outcomes. • attempt to quantify the effect of the future decisions in order to advise on possible outcomes before the decisions are made. • links with autonomous decision making, artificial intelligence, automation and robotics. By allowing machines to make decisions and take actions. Defining Cloud Computing • The practice of using a network of remote servers hosted on the internet to store, manage, and process data, rather than a local server or a personal computer. • computing processing power • data storage • networking • development platforms • deployment platforms • business processors • Cloud computing is the enabling technology of all digital business. Key Features • On-demand access to recourses • scalability- easily scale up or down based on needs • Cost efficiency- pay only for what you use • Accessibility- access from anywhere with internet connection Why it matters: • Cloud computing enables businesses and individuals to be more flexible, efficient and collaborative while reducing infrastructure costs. • The basic idea is that businesses rent IT services instead of owning the hardware or software. • Key"as a service" models: • Iaas- Infrustructure as a service Rent servers, storage, networking, security (AWS, Microsoft Azure) • PaaS- Platform as a service Rent tools to build and run apps (Google App Engine) • SaaS- Software as a service Use ready-made apps deployed over the internet(Gmail, Microsoft 365) • AlaaS- Artificial Intelligence as a service Access AI tools and models (like image recognition, chatbots, or language processing) • BaaS- Blockchain as a Service Use blockchain infrastructure and development tools through cloud provider. • AaaS- Analytics as a Service Perform data analytics and visualisation in cloud, without needing your own data infrastructure • IoTaaS- Internet of Things as a Service Access IoT capabilities such as sensors and connected devices through cloud provider. What is IoT? The Internet of Things (IoT) is a network of single-task physical objects embedded with software, sensors and network connectivity that enables these objects to collect and exchange data autonomously

History exam 3: 1920s america the Roaring twenties: Prosperity, culture, change, and contradiction (1920s-1929) Nicknamed: Roaring twenties/ jazz age Post ww1 boom after war and flu pandemic recovery Shift: Rural tradition to urban modern consumer society Key themes: optimism, excess, hidden cracks Republican dominance “Return to normalcy” President: Harding (1921-23, scandals) Coolidge (1923-29, pro- business) Hoover (1929, crash) Laissez fair: low taxes, limited regulation Isolationism: rejected league of nations “ Age of prosperity”: rising wages, low unemployment (for many) Mass production: Assembly line, electricity, consumer goods Key industries: Autos, radio, appliances Rise of credit and advertising - mass consumption Uneven: Farmers struggled Automobile explosion: Model T - suburbs, roads Aviation milestone: Lindbergh’s 1927 solo Atlantic flight Radio: national culture and entertainment Household tech: Refrigerators, vacuums 19th amendment (1920): women vote Flappers: Short hair/ skirts, smoking, dancing, independence More women working, challenge norms New freedom in dating and social life Jazz age: Born in New Orleans Louis armstrong, duke ellington Hollywood boom: silent films- talkies (1927) Sports heroes: Babe ruth, Jack dempsy Dances And fads: Charleston, dance marathons Great migration: Black to northern cities Harlem explosion: Art literature, music Key figures: WRiter and poet langston hughes, writer zora neale hurston, jazz duke ellington Celebration of black identity 18th amendment (1919-33) banned alcohol Results: Speakeasies, bootlegging, organized crime Gangster: AL Capone and rise of mafia Widespread hypocrisy and corruption Roaring twenties: KKK resurgence: anti- immigrants black catholic Nativism: 1924 immigration quotas- new law restricting immigrants - target eastern and southern europeans Radical violence: Tulsa massacre (1921) Scope trial (1925): evolution vs religion Stock market Bull market Stock prices steadily climbed throughout the 1920s Margin buying Middle class investing Economy roaring Frantic buying in 1920s Stock prices separate from the value of company Economy begins to weaken Before the stock crash when did the American economy begin to cool off? 1928 According to a top investor when a shoe shine boy is giving stock picks its time to do what? Sell out When do most stock market crashes occur? september/ october In the worst single day how much did the stock market lose in value? 14 billion Who was worse in the short run? Small investor Stock prices begin to fall in september1929 Crash in october 1929 Black tuesday october 29,1929 Great depression Unemployment skyrockets Thousands of banks collapsed Individual; saving gone Cause; Abundance ‘Great glut” too much production Overexpansion of credit High tariff- trade dried up Effects High employment Homes and farms lost to foreclosure Homelessness and hunger Bread and soup lines “Hoovervilles” Makeshift towns of homeless people Hoover and depression What happened to local government and local charities relief efforts? They were overwhelmed Hoover reluctant to use federal government Reconstruction Finance corporation Government loans to big business and some state governments Hoover In 1924 congress voted a bonus payment to world war 1 veterans To be paid in 1945 Bonus army In 1932 around 20,000 veterans converge on WAshington during the depression Camped out and demand full bonus immediately Vote failed in congress Hoover ordered removal of those who refused to leave Bloody confrontation- hoover hurt politically in election year Election of 1932 Herbert hoover (r.) Franklin roosevelt (d) Roosevelt offers new deal Roosevelt wins in landslide Lame duck period between election and inauguration economy worsened Banking catastrophe loomed Roosevelt and the new deal “ only thing we have to fear is fear itself’ First hundred days Intense burst of legislation New deal ‘ Three R- relief, recovery, reform Fireside chats Emergency banking act 1933 Aimed to restore public confidence Banks shut down for a weeklong bank holiday Only solvent bank reopen Firesides chats Regular radio broadcast by Roosevelt Roosevelt's way of going directly to the public Built support for new deal legislation New deal Banking crisis dealt with first Bank examiners determined bank health Glass steagall banking reform act 1933 Banks prohibited from using depositors funds for risky investments Federal deposit insurance corporation Created by glass steagall Independent agency of federal government Insures bank deposits Prevents bank panics Securities exchange act 1934 Securities and exchange commission created Stop fraudulent stock market practices Greater transparency in market Regulation and enforcement to determine stock manipulation Example: trading laws established The great depression Noble experiment ends 3.2% wine and beer legalized first 21st Amendment 1933 Proposed in feb. and ratified dec. 1933 Only constitutional amendment ratified by special state conventions Prohibition ended “Alphabet soup” new deal programs Three- or four lettered acronyms describe most new deal programs Civilian conservation corps FDR created by executive order For unemployed unmarried men between 17-28 years old Helped shaped modern national and state park system Federal emergency relief act 1933 Federally funded jobs for state and local government work Civilian works administration Emergency employment Provided temporary jobs and paycheck Tennessee valley authority Massive federal project Construction of dams and reservoirs on Tennessee river Flood control and navigation improvements Creation of cheap hydroelectric power Covers parts of seven states Over 2.5 million people living at the time Provided jobs and creation of long term project $13b Works progress administration Largest most ambitious new deal agency Nearly every community in united states impacted by building projects WPA included federal arts projects Strawberry stadium WPA project #3014 Dust bowl Drought and wind = dust storms Powdery topsoil in arid regions of the plains blown away Large areas of the plains became uninhabitable Caused by nature and manmechanized farming Tens of thousands forced out Steinbeck's grapes of wrath Huey Long Senator and former governor of Louisiana Built thousands of miles roads in louisiana Free textbooks and school lunches Charity hospital established National radio show “share our wealth” program reached millions “Every man a king” 5k for each family by taxing the rich Proposed free college Proposed old age pensions Long: FDR new deal was not bold enough Roosevelt worried long could be third party candidate Long assassinated at age 42 in state capital sept. 1935 Long help inspired social security Social security act 1935 One of the most far reaching laws ever Retirement pension regular payments Provided for federal- state unemployment insurance Disability payments Financed by payroll tax paid by employees and employers Over 70 million people receive social security payments today Wagner act 1935 National labor relations act 1935 Aimed to balance power between labor and management Workers rights Labor has right to organize and collective bargaining Strike without employer retaliation Government board established labor secretary Oversees workplace rights Election 1936 Franklin roosevelt vs alf landon Moderate republican who accepted some new deal reforms Republicans - franklin “Deficit “ roosevelt Republicans carried only two states Landslide win for roosevelt Democrats controlled both houses of congress Twentieth amendment Ratified in 1933 changed inauguration date to january 20 shorten lame duck period by 6 weeks Roosevelt sworn in on jan. 20 1937 Supreme court a road block for new deal Six of nine justices over the age of seventy Roosevelt second term Court packing plan Supreme court ruled some new deal laws unconstitutional Roosevelt implied justices were far behind on work Proposed to add six new justices to supreme court All new judges to be appointed by roosevelt Roosevelt hurt politically Court packing failed in congress However the supreme court began to be more sympathetic to new deal Fair labor standards act 1938 (wage and hours) Minimum wage established 40 hour work week Labor under 16 years old restricted “Roosevelt recession” sharp downtown in economy in 1937 Became a little more difficult to pass new deal legislation Mid-term election 1938 Republicans cut into large democratic majorities National attention turned to internal affairs Germany and japan New deal momentum slows Government soon transformed because of World war 2 World War 2 Neutrality Acts Passed by congress in 1935,1936,1937,1939 Because of the rise of fascism in Europe and possibility of another war Isolationist view still prevailed Four laws in all temporary at first, later made permanent Restricted trade with warning nations Embargo of arms Banned loans from U.S banks “Cash and carry” provision Causes of ww2 Problems with treaty of versallies Germany left out of treaty negotiations Everything on Germany War guilt cause Reparations payments Restriction on military Loss of territory Economic problems and general dissatisfaction allows for the rise of fascism Fascism Benito mussolini Gained power in italy 1922 Led the fascist party Rise of Fascist Nationalistic and Militaristic Dictators Difficult Life in post-world war 1 Radical extremism and the Nazi party Born out of post ww1 conditions Weimar republic German government after WW1 Weimar republic failed Nazi party slowly gained seats in German Parliament Adolph Hitler Leader of nazi party Gained power in Germany 1933 German problems blamed on Treaty of Versailles and Jewish population Mein kampf Published 1925 Autobiography antisemitic manifesto of hitler Wrote while in prison Plans for german future Labensraum Living space needed for the aaryn race Nuremberg laws 1935 Race laws against the german jews Restriction on jewish population citizenship denied intermarriage denied Hitler Hitler embarked on remilitarization of germany Remilitarization was violation of treaty of versailles Rhineland Area along french border Hilter placed troops 1936 German troops in Finland a violation of treaty of Versailles Austria German speaking Hitler born in austria Annexed 1938 making austria part of germany Sudetenland Area of czechoslovakia A few million german speaking residents Hitler demanded sudetenland Munich conference September 1938 Hilter invited british P.M neville chamberlain and french president Appeasement french and british give hitler what he wants Hitler takes all of Czechoslovakia within six months Nazi soviet nonaggressionpact Aug he