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Understanding Big Data, Analytics, and AI in Business
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An acronym standing for completely automated public Turing test to tell
computers and humans apart.
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1 big data 2 CAPTCHAs
, 3 database administrator (DBA) 4 data leverage
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big data The collections, storage, and analysis of extremely
large, complex, and often unstructured data sets
that can be used by organizations to generate
insights that would otherwise be impossible.
business intelligence (BI) A term combining aspects of reporting, data
exploration and ad hoc queries, and sophisticated
data modeling and analysis.
analytics A term describing the extensive use of data,
statistical and quantitative analysis, explanatory and
predictive models, and fact-based management to
drive decisions and actions.
machine learning A type of artificial intelligence that leverages
massive amounts of data so that computers can act
and improve on their own without additional
programming.
data leverage Data leverage is at the center of competitive
advantage in firms such as Amazon, Netflix, and
Zara.
dynamic pricing Changing pricing based on demand conditions.
data Raw facts and figures.