BCOR 2205 Topic 1 Questions And Answers!!

Facts - Answer-confirmation or validation of an event or object Information Age - Answer-the present time, during which infinite quantities of facts are widely available to anyone who can use a computer Internet of Things (IoT) - Answer-a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention Machine-to-Machine (M2M) - Answer-refers to devices that connect directly to other devices Data - Answer-Raw facts that describe the characteristics of an event or object Structured Data - Answer-has a defined length, type, and format and includes numbers, dates, or strings; stored in a traditional system such as a relational database or spreadsheet Machine-generated data - Answer-created by a machine without human intervention Human-generated data - Answer-data that humans, in interaction with computers, generate Big Data - Answer-a collection of large, complex datasets, which cannot be analyzed using traditional database methods and tools (common characteristics: large data volumes, high velocity, wide variety, and veracity) Volume - Answer-scale of data Variety - Answer-different forms of data Velocity - Answer-analysis of streaming dataVeracity - Answer-uncertainty of data Unstructured Data - Answer-not defined and does not follow a specified format and is typically free from text Snapshot - Answer-a view of data at a particular moment in time Information - Answer-data converted into a meaningful and useful context Report - Answer-a document containing data organized in a table, matrix, or graphical format allowing users to easily comprehend and understand information Static Report - Answer-created once based on data that does not change Dynamic Report - Answer-changes automatically during creation Variable - Answer-a data characteristic that stands for a value that changes or varies over time Business Intelligence (BI) - Answer-information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends and relationships for strategic decision making Analytics - Answer-the science of fact-based decision making Business Analytics - Answer-the scientific process of transforming data into insight for making better decisions Data Scientist - Answer-extracts knowledge from data by performing statistical analysis, data mining, and advanced analytics on big data to identify trends, market changes, and other relevant informationDescriptive Analytics - Answer-use techniques that describe past performance and history Predictive Analytics - Answer-use techniques that extract information from data to predict future trends and identify behavioral patterns Prescriptive Analytics - Answer-use techniques that create models indicating the best decision to make or course of action to take Algorithms - Answer-mathematical formulas placed in software that performs an analysis on a dataset Anomaly Detection - Answer-the process of identifying rare or unexpected items or events in a dataset that do not conform to other items in the dataset Outlier - Answer-data value that is numerically distant from most of the other data points in a set of data Knowledge - Answer-Skills, experience, and expertise coupled with information and intelligence that creates a person's intellectual resources Knowledge Workers - Answer-individuals valued for their ability to interpret and analyze information Knowledge Facilitators - Answer-help harness the wealth of knowledge in the organization Knowledge Assets - Answer-the human, structural, and recorded resources available to the organization Business Unit - Answer-a segment of a company (such as accounting, production, marketing) representing a specific business function Data Democratization - Answer-the ability for data to be collected, analyzed, and accessible to all users System - Answer-a collection of parts that link to achieve a common purposeGoods - Answer-material items or products that customers will buy to satisfy a want or need Services - Answer-tasks people perform that customers will buy to satisfy a want or need Production - Answer-the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services Productivity - Answer-the rate at which goods and services are produced based on total output given total inputs Management Information Systems (MIS) - Answer-A business function, like accounting and human resources, which moves information about people, products, and processes across the company to facilitate decision-making and problem-solving Chief Information Officer (CIO) - Answer-responsible for 1) overseeing all uses of MIS and 2) ensuring that MIS strategically aligns with business goals and objectives Chief Data Officer (CDO) - Answer-responsible for determining the types of information the enterprise will capture, retain, analyze, and share Chief Technology Officer (CTO) - Answer-Responsible for ensuring the throughput, speed, accuracy, availability, and reliability of an organization's information technology