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Data Concepts
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- 1Data Architecture is a set of rules, policies, standards and models that govern and define the type of data collected and how it is used, stored, managed and integrated within an organisation and its database systems.Data policies are a collection of statements that describe the rules controlling the integrity, security, quality, and use of data during its lifecycle and state change. It ensures proper management of an organization’s information.
- 2Data standards are more detailed rules on how to follow the rules. In order to share, exchange and understand data, it must be standardised.Models look at the eventual interactions between systems. There are different types of models that relate to this.
- 3Canonical – this is a design pattern used to communicate between different data formats. Its intention is to reduce costs and standardise on agreed data definitions for integrating business systems.Flat design – All the properties of the entity are modelled as different attributes. This consists mainly of stable attributes, with no frequent modifications.
- 4Attribute-value pairs – This uses three relations, the stable relation with the stable attributes, the master relation in which each category of properties is modelled as an attribute, and finally a lookup relation where the description of the properties is maintained.Models look at the eventual interactions between systems. There are different types of models that relate to this.
- 5Forms of analytics which are crucial to businesses these are: • Decision analytics; • Descriptive analytics; • Predictive analytics; • Prescriptive analytics.Descriptive analytics describes the past using a range of data to draw comparisons. Most commonly reported financial metrics are a product of descriptive analytics e.g. year-over-year pricing changes, he number of users, or the total revenue per subscriber.
- 6Prescriptive analytics; This is the area of business analytics (BA) dedicated to finding the best course of action for a given situation. Prescriptive analytics is related to both descriptive and predictivePredictive analytics encompasses a variety of statistical techniques from predictive modelling, machine learning, and data mining that analyse current and historical facts to make predictions about future or otherwise unknown events.
- 7Decision analytics; This is the discipline comprising the philosophy, theory, methodology, and professional practice necessary to address important decisions in a formal manner.Decision analysis includes many methods for identifying important aspects of a decision, for picking a recommended course of action and for translating the formal representation of a decision and its corresponding recommendation into insight for the decision maker and other stakeholders.
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- Fichas sobre Data Concepts, creado por Millie Sutherland el 23/05/2018.
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- Millie Sutherland
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