Summary Data Mining for Business Analytics Concepts, Techniques, and Applications with XLMiner

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ISBN-10 1118729242 ISBN-13 9781118729243
131 Flashcards & Notes
1 Students
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This is the summary of the book "Data Mining for Business Analytics Concepts, Techniques, and Applications with XLMiner". The author(s) of the book is/are Galit Shmueli Peter C Bruce Nitin R Patel. The ISBN of the book is 9781118729243 or 1118729242. This summary is written by students who study efficient with the Study Tool of Study Smart With Chris.

Summary - Data Mining for Business Analytics Concepts, Techniques, and Applications with XLMiner

  • 1 Introduction to BI & BM

  • What is Data management
    managing data as a valuable resource (mostly backend).
  • What is Business Intelligence
    transforming data into meaningful information/knowledge to support business decision-making (a.k.a. datadriven decision-making). Mostly the front end side.
  • What is data
    items that are the most elementary descriptions of things, events, activities and transactions. Can be internal or external, structured or unstructured. - (Un)structured data: Most data is unstructured. During the data preparation, you make unstructured data structured. More and more unstructured data is becoming available over time.
  • What is information
    organized data that had meaning and value. Suppose you buy something online at Amazon or Bol.com. When you but something a certain event is triggered in the backend information system where the raw data is stored. When this data is used in a management report, we can call it information.
  • What is knowledge
    processed data or information that is applicable to a business decision problem. It is possible that some companies see certain data as information where other companies see it as knowledge.
  • Picture about data, information and knowledge
    .
  • Which analytics methods are there
    1. Descriptive analytics: use data to understand past and present (SQL, OLAP)
    2. Predictive analytics: predict future behavior based on past behavior (Time series, clustering, decision trees, NN)
    3. Prescriptive analytics: make decisions or recommendation to achieve the best performance (simulation, optimization, AI)
  • What is the BI process?
    The objective of the BI product is to provide historical, current and predictive views of business operations. Information/knowledge that could relate to: - Understanding customer preferences - Coping with competition - Identifying with opportunities - Enhancing internal efficiency BI solutions support the BI process by utilizing BI tools.
  • Which BI tools and techniques do we know
    - Data warehousing
    - Knowledge management
    - Query and reporting
    - Online analytical processing
    -Digital dashboards
    - Data, process, and text mining
    - Statistics
    - Visualization
  • What is Business Intelligence Architecture
    The idea: data flows through the veins of the organization. For example: a customer buys something, than a certain event is created in the sales database. All the different databases have a ‘local’ view on the business. Some parts of the data are interesting for decision making. To use the data, ETL is used. After the ETL the clean data is stored in a data warehouse. After that, a large set of techniques is available to provide insights for the decision maker.
  • What is OLAP
    Online Analytical processing

    You have numeric (measures) data which can be put in different dimensions, namely product, time and location.
  • What is a database?
    Database = a collections of related tables, designed, maintained and utilized by multiple users, with software to update and query the data. So, it’s not comparable with multiple excel tables, because database tables are related to each other.

    A database is also an environment to Manipulate data using a query language (e.g. SQL), and it is often an client/server architecture. The clients are active (low processing and very thin) and the database server is relatively passive (but does a lot of processing, is thick).
  • A database system consists of:
    - Data - Software - Hardware - Users
  • What is a DBMS
    is the software that controls the data (Oracle, DB2, MySQL, MS Access) Internal memory is very important for a database
  • A database systems allows users to:
    - Organize (CREATE) - Store (INSERT) - Update (UPDATE) - Delete (DELETE) - Retrieve their data (SELECT)
  • What is a table?
    structured list of data of a specific type. Each table has a name, and is divided into fields (columns) and records (rows)
  • What is a relational database?
    -Data to be grouped into tables
    - Sets relationships between tables
  • What is join
    relationship between two tables using a common field. This is done with a primary key and a foreign key.
  • What is a primary key?
    fields that uniquely identifies each record in a table. Null value is not allowed. It consists of 1 or more attributes that determine other attributes. When a primary key contains multiple values, it is called a composite primary key. Key’s role is based on determinations: A  B, C, D o If you know A, you can lookup B, C, D o B, C, D are functionally dependent on A Textual representation of the database tables. Primary keys are underlined
  • What is a composite primary key
    If a primary key contains multiple values
  • What is a superkey?
    any key that uniquely identifies each row (potential primary key)
  • What is a candidate key?
    super key without unnecessary attributes
  • What is a foreign key?
    attribute whose value matched the primary key values in the related table
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