{"id":4022,"date":"2023-03-02T18:15:41","date_gmt":"2023-03-02T23:15:41","guid":{"rendered":"https:\/\/community.mis.temple.edu\/mis2101sec730spring2023\/?p=4022"},"modified":"2023-03-02T18:16:48","modified_gmt":"2023-03-02T23:16:48","slug":"3b-data-as-an-asset","status":"publish","type":"post","link":"https:\/\/community.mis.temple.edu\/mis2101sec730spring2023\/2023\/03\/02\/3b-data-as-an-asset\/","title":{"rendered":"3b: Data as an Asset"},"content":{"rendered":"

 <\/p>\n

\"\"The digital revolution has made data the single most important asset to companies worldwide. Big Data refers to the massive data sets that are analyzed to predict patterns and are too large to be processed by traditional softwares. Companies rely on big data to inform business decisions and to allow them to identify trends that would otherwise be near impossible to recognize.\u00a0<\/span><\/span><\/p>\n

Transactional databases are responsible for documenting events and day to day activities within an organization, while analytical databases uses that information to draw conclusions or make predictions. The latter are explicitly designed to process large data sets.<\/span><\/p>\n

There are 3 types of data analytics:<\/span><\/p>\n

    \n
  1. Predictive \u2192 using past data to predict future trends and patterns; think the purchase suggestions advertised to you that eerily fit your interests<\/span><\/li>\n
  2. Descriptive \u2192 quantitative business information ie. sales numbers<\/span><\/li>\n
  3. Prescriptive \u2192 used to formulate options for future courses of action or how to mitigate future risks<\/span><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

      The digital revolution has made data the single most important asset to companies worldwide. Big Data refers to the massive data sets that are analyzed to predict patterns and are too large to be processed by traditional softwares. Companies rely on big data to inform business decisions and to allow them to identify trends […]<\/p>\n","protected":false},"author":29253,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[663943],"tags":[],"class_list":{"0":"post-4022","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-instructor","7":"entry"},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/community.mis.temple.edu\/mis2101sec730spring2023\/wp-json\/wp\/v2\/posts\/4022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/community.mis.temple.edu\/mis2101sec730spring2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/community.mis.temple.edu\/mis2101sec730spring2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis2101sec730spring2023\/wp-json\/wp\/v2\/users\/29253"}],"replies":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis2101sec730spring2023\/wp-json\/wp\/v2\/comments?post=4022"}],"version-history":[{"count":3,"href":"https:\/\/community.mis.temple.edu\/mis2101sec730spring2023\/wp-json\/wp\/v2\/posts\/4022\/revisions"}],"predecessor-version":[{"id":4026,"href":"https:\/\/community.mis.temple.edu\/mis2101sec730spring2023\/wp-json\/wp\/v2\/posts\/4022\/revisions\/4026"}],"wp:attachment":[{"href":"https:\/\/community.mis.temple.edu\/mis2101sec730spring2023\/wp-json\/wp\/v2\/media?parent=4022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis2101sec730spring2023\/wp-json\/wp\/v2\/categories?post=4022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis2101sec730spring2023\/wp-json\/wp\/v2\/tags?post=4022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}