Summary: Bia
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Read the summary and the most important questions on BIA
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1 Week 1
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1.1 Lecture 01: Setting the Stage
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What is clickstream data?
The "journey" you follow when browsing through the internet, and clicking from page to page. -
What is descriptive analytics?
Focus on 'What happend'
Dashboards, excel sheets, past data. -
What are examples of predictive analytics?
Describing trends
Regression Analysis -
What does a Business Analyst typically do?
UsesBI tools andapplications to understand and improvebusiness conditions andbusiness processes.- Descriptive analytics
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What does a Data Scientist typically do?
Use advancedalgorithms andinteractive exploration tools to uncovernon-obvious patterns in data.Predictive andPrescriptive analytics- Has a multidisciplinary background
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What is the role of a Data Architect?
- IT specialists that design and manage data systems.
- Sets policies for how data is stored and accessed
- Coordinates various data sources
- Integrates new data technologies into existing IT infrastructure
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What is the role of a Data Engineer?
- Build system that collect, manage and convert raw data into usable information
- Make data accessible so that it can be used to evaluate and optimize organizational performance.
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How do organisations use big data in practice?
Improving existing business models by using- New data (sensors, social media)
- New insight (outlier detection, big data techniques)
- New action (faster response to change in sentiments)
Innovate the business model- Data monetization by wrapping: (enriching core products with data)
- Data monetization by selling (offering info for sale)
- Data monetization by bartering ( trading info)
- Digital Transformation (becoming active in new industries)
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1.2.1 Data Driven Business Models - Hartmann et al.
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What are data driven business models?
Business Models supporting data related-ventures to capture value. -
What are the six clusters of Data Driven Business Models?
- Free data collector and aggregator
- Analytics as a service
- Data generation and analysis
- Free data knowledge and discovery
- Data aggregation as a service
- Multi-source data mash up and analysis
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
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Topics related to Summary: Bia
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Mijn lesaantekeningen - Data Driven Business Models - Hartmann et al
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Mijn lesaantekeningen - Big Data - Extending the Business Strategy - Woerner & Wixom
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Mijn lesaantekeningen - Big Data, Analytics - LaValle et al
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Mijn lesaantekeningen - The New Patterns of Innovation, HBR - Parmar et al
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Papers - Strong et al. - Data quality in context
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Papers - Weber et al. - One Size Does Not Fit All
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Papers - Tene et al. - Big Data for All_ Privacy and User Control in the Age of Analytic
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Data Architecture
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Papers - Chaudhuri - An Overview of Business Intelligence Technology
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Data Analytics - Papers - Shmueli et al. 2016 - - Association Rules and Collaborative Filtering In Data Mining for Business Analytics
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Cosic et al. (2015) A business analytics capability framework incl. appendix
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Fogarty et al. - Should You Outsource Analytics
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Wixom et al. - An Empirical Investigation of the Factors Affecting Data Warehousing Success
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Data Visualization & Reporting
