Class Notes Weeks 1-6
Class Notes Weeks 1-6 INFO 1010
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This 25 page Bundle was uploaded by Alexandra Tilton on Saturday October 24, 2015. The Bundle belongs to INFO 1010 at University of Denver taught by Professor Gisella Bassani in Fall 2015. Since its upload, it has received 76 views. For similar materials see Analytics 1: Data Management and Analysis in Business at University of Denver.
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Date Created: 10/24/15
INFO 1010 Data Management and Analysis Class Notes Wed 916 Questions from last time 0 Difference between IT and IS 0 IT Information tech hardware software communication 0 IS All systems within a business includes IT 0 Questions from the Quiz 0 GPA Can be considered interval but preferably ratio because there is an idea of an absolute zero 00 equals no grade 0 Census Counts the US Population not a survey of the US Population Information Age 0 So many pieces of information are easily accessible through technology 0 Fact something that is true and or validated 0 Information age the present Infinite quantities of facts are widely available to anyone Competing in the Information Age Examples of Business 0 Amazon grew from selling just books to selling everything 0 Net ix not a tech company but tech important for renting movies 0 Zappos not a tech company but need tech for selling shoes Alexandra Tilton 1 of 4 0 Core drivers of the information age Alexandra Tilton Data raw facts that describe characteristics of an event or object Information data converted to something meaningful Business intelligence any info that pertains to anything related to the business for strategic decision making Knowledge skills experience expertise someone s intellectual resources Knowledge worker someone who s valued for their ability to work with data and information The Challenge Departmental Companies departments work independently of each other Solution management info systems help with communication among departments Systems thinking monitoring a system by viewing inputs processes and outputs and gathering feedback on everything Management Information System a system that moves info about the whole business across different departments to facilitate decision making 0 Chief Information Officer Oversees all IT 0 Chief Knowledge Officer Collects and distributes knowledge about the organisation 0 Chief Privacy Officer Responsible for ensuring ethical use of info 0 Chief Security Officer Responsible for security of IT 0 Chief Technology Officer Responsibility for reliability of IT 20f4 Identifying Competitive Advantages Business strategy 0 Leadership plan to achieve objectives such as 0 New products 0 New markets Customer loyalty New customers Sales increase 39 Competitive advantage 0 A product or service that makes an organisation more valuable to customers compared to competitors Firstmover advantage 0 When a business brings in new advantages to the market 39 Competitive intelligence 0 Gathering info about the competitive environment to improve your ability to succeed Five Forces model 0 Buyer power Buyers affect the price of an item 0 Supplier power Suppliers choose the price of supplies to businesses 0 Threat of Substitute Products ls high when there are many alternatives 0 Threat of New Entrants High when it s easier for someone to start a new business Entry barriers that are unique to certain businesses prevent new entrants 0 Rivalry Among Existing Competitors High when competition is fierce Low when competitors are stable Three Generic Strategies 0 Choose what kind of market and cost your business should be Alexandra Tilton 3 of 4 INFO 1010 Data Management and Analysis Class Notes Mon 921 Coming Up Project Phase 1 Due 9 30 Exam 1 October 5 Data Sources Spreadsheet What do you see 0 Data organised in a way that makes sense What is it good for 0 Finding large amounts of information in one place 0 Being able to come to educated conclusions 0 Good info for businesses Project Phase 1 Instructions are on Canvas 0 World database 0 15 variables 150 elements 30 year timeline Practice downloading data with different attributes countries etc not all countries will have adequate amounts of data PAY ATTENTION TO RUBRIC In Class Work Refer to discussion section in Canvas for this 0 Understanding that each department has its own specific structure for management processes and systems IT IS INFO 1010 Data Management and Analysis Class Notes Mon 928 Project Notes 0 Make sure countries are actually countries 0 30 years 15 indicators and 150 countries should download just fine as one file 0 Due Wednesday 0 Downloading Formatting data from world bank 0 Autofill years so that it is just numbers 2009 2010 etc 0 Find and replace and replace with nothing 0 Filter for series if they are unreliable 0 Create filter and uncheck series you don t like 0 Copy Paste data into another sheet Pivot Tables 0 Highlight just one cell 0 Select Pivot Table from Insert tab 0 Create pivot table in new worksheet 0 Click and drag 0 Countries to rows 0 Count of series name to E Values 0 Switch Countries with Series Names to check that all countries have the same indicators and all indicators have same countries Exam 1 October 5 Redownload test topics some were deleted Alexandra Tilton l of 3 Department Presentations 0 Check these online 0 Will be part of studying for test Descriptive Statistics in Excel 0 Should be turned on in Excel 0 Where is my data 0 Common to find 0 Populations vs Samples 0 Certain calculations are different with populations vs samples 0 Population uses Greek letters 0 Samples use Latin letters 0 Mean 0 Average 0 mu is population 0 x bar is for sample 0 Median 0 Your middle value 0 Might have to average two middle values 0 Mode 0 Most common value 0 If no number is repeated no mode 0 Exercise 0 44556667891122 0 Median 6 0 Mean 2 775 0 Mode 2 6 Alexandra Tilton 2 of 3 0 In Excel 0 Don t use anything with a warning sign 0 Mode 0 Use MODESNGL Median 0 MEDIAN Mean 0 Use AVERAGE Reference cells of data versus putting in values each time Other Tools and Functions 0 CountIF 0 Need criteria and range 0 Make sure you double check results Alexandra Tilton 3 of 3 INFO 1010 Data Management and Analysis Class Notes Wed 930 Coming Up 0 Exam 1 Monday October 5 0 Project Phase 2 Monday October 26 0 Exam 0 Half on computer half on paper Turning in Excel and paper Start with questions that are worth the most points Spend little time on definitions Calculations using Excel If you use VMware bring a network cable Select Pivot Table from Insert tab Create pivot table in new worksheet Concepts 0 Enabling 0 Beneficial to business 0 Contribute to success 0 Nice for customers 0 Separates you from your competition 0 Imperative technology 0 Major goal 0 Necessity 0 If you don t have it your business fails 0 Example Apple satellite for iPhone 0 Example UPS Trucks not technically technology Long Tail What is it 0 Tall part of diagram is all popular things blockbusters 0 Long tail part is the obscure product market where Amazon makes most of their money 0 Internet helps supply the customer base for these obscure products MicroMarkets What are they 0 Targeting very specific individuals sometimes based on geography 0 Shapes your marketing strategies 0 You do need technology ToolsFormatting Conditional Formatting 0 If something does this then format this way Pivot Table 0 For frequency remove Sum and choose Count 0 Sort ascending or descending 0 You can also show as percentages occurrences etc 0 Cumulative Frequency adds each percentage row by row Data Analysis 0 Go to Data tab and select Data Analysis Select Descriptive Statistics Enter Input Range Add Labels in first row Select Output range Click Summary Statistics INFO 1010 Data Management and Analysis Class Notes Wed 1012 Ethics Are there things that are not illegal but are unethical 0 Yes some are based on morals How do companies navigate the ethics of data 0 Abiding by ethical rules in the company s country of origin How does the government fit into this 0 They can create laws to guide ethics 0 Government rules re ect the views of the people Security Whose job is it to secure the data you provide to a company 0 The IT department CIO anyone dealing with data What risks do companies and individuals take when giving information 0 Risks of hacking data breaches etc Privacy Privacy standards violation by companies 0 They have to do a lot of damage repair because they didn t spend enough to protect their data Companies and Employee s privacy 0 Even if you bring your own computer to work that computer becomes the company s property Some ToolsFunctions 0 Data Cleansing 0 Getting rid of data that Will throw off your statistics 0 Scatter Plot 0 Insert Scatter Plot 0 Click Select Data 0 Correlation 0 Positive 0 Negative 0 No correlation Exam 0 Partial Credit 0 Go see her to go over answers and possibility of partial credit 0 Scoring 0 Maximum 2 1375 0 Average 1158 0 Median 12125 0 Approximate Grades 0 90 12375 0 80 110 0 70 9625 INFO 1010 Data Management and Analysis Class Notes Wed 1014 From Last Time Quiz You can take it again before Monday Project Phase 11 Due by 1026 Exam 2 10 28 Project Creating the histogram QONQSNEPPJNE 9 10 12 13 Select one indicator one year all your countries Copy paste to new worksheet Create a pivot table Put Year in Rows Put Country Name in Values Select Count for Country Name Right click and select Group Sturges Rule k133LOGCount of xxx 2 8 bins Starting at 0unless it doesn t make sense for your indicator Cannot have gaps in pivot table 11 If you need to add an extra bin you copy paste as values and then edit you cannot edit a pivot tablequot Insert a 2D Column Chart Add necessary titles formatting etc 14 Each column should have a boarder Page 1 of 6 15 Select Layout Number 8 so that all columns touch each other 16 Copy past as picture into powerpoint Sustainable Technology A lot of our technology is causing a ton of waste 0 Chemicals styrofoam etc Moore s Law 0 Refers to computer chip performance per dollar doubles every 18 months Sustainable or green MIS 0 Describes production management use and disposal of technology in a way that minimises damages to the environment Corporate Responsibility 0 Considering the social responsibility you have to the community and environment MIS and the Environment Three Primary Side Effects of Businesses Expanded Use of Technology 0 Increased E Waste 0 Discarded obsolete broken devices 0 Sustainable MIS disposal 0 Safe disposal of MIS assets at the end of their life cycle 0 Increased Energy Consumption 0 Amount of energy consumed by business processes and systems 0 Huge increases in technology use have greatly ampli ed energy consumption 0 Energy from computer 2 10 percent of carbon dioxide produced by a car Page 2 of 6 0 Increased Carbon Emission 0 Carbon dioxide and carbon monoxide produced by business processes and systems 0 When left on continuously desktop computer can consume at least 100 watts of power per hour Sustainable MIS Infrastructure 0 Grid Computing 0 Group of computers geographically disperse designed to solve the same problem 0 Virtualised Computing 0 Creates multiple virtual machines on a single computing device 0 Data Centre facility used to house information systems and associated components such as telecommunication storage systems etc 0 Reduces emissions space needed can choose geographic location 0 Cloud Computing 0 Enabling ondemand network access to a shared pool of con gurable computing resources requires minimal management 0 Multitenancy The cloud means that a single instance of a system serves multiple customers 0 Singletenancy Each customer or tenant must purchase and maintain an individual system 0 Cloud fabric The software that makes possible the benefits of cloud computing such as multitenancy Page 3 of 6 On Demand Self Service Users can increase storage and processing power as needed Broad Network Access All devices can access data and applications Multitenancy Customers share pooled computing resources Rapid Elasticity Storage bandwidth capacity can be increased or decreased immediately for optimal scalability Measured Service Clients can monitor and measure transactions and use of resources Infrastructure as a Service Offers computer hardware and networking equipment on a payperuse basis example Amazon EC2 Software as a Service Offers applications on a payperuse basis examplesalesforcecom Platform as a Service Offers hardware networking and applications on a payperuse basis example Google Application Engine Public Cloud Amazon Web Services Windows Azure and Google Cloud Connect hackable Private Cloud Bank or sensitive information Community Cloud For Government example all Colorado State Government organisations Hybrid Cloud Cloud bursting Page 4 of 6 Statistics Percentiles 0 Use PercentileINC 0 Example If you are in the 85th percentile of SAT scores you scored better than 85 of people who took the test Quartiles 39Osz 0 1 2 25th percentile 0 2 2 50th percentile 0 3 2 75th percentile 0 4 2 Max 0 5 Number Summary is made up of these 0 QuartileINC Variability 0 How far spread out is my data 0 Harder to generalise When you have high variable data 0 Range 0 Max value min value 0 InterQuartile Range 0 Q3Q1 Variance 0 Population Variance Sample Variance 0 How far away from the mean 0 varp 0 vars Standard Deviation 0 Units are better for interpretation 0 Just the square root of the variance 0 If you re unsure about Whether to use population or sample use sample 0 stdevp Page 5 of 6 0 stdevs 0 Coef cient of Variation 0 standard deviation over your mean times 100 0 Useful for comparing the degree of variation from one data series to another Page 6 of 6 INFO 1010 Data Management and Analysis Class Notes Mon 1019 Business Bene ts of HighQuality Information Information Levels 0 Individual more granule Departmental Enterprises Information Formats 0 Document Presentation Spreadsheet Database Information Granularities 0 Fine or course amount of detail Transactional and Analytical Transactional Information 0 All information contained within a single business process or unit of work primary purpose is to support the performing of daily operational tasks Analytical Information 0 All organisational information primary purpose to support the performing of managerial analysis tasks Information Timeliness Realtime information 0 Immediate uptodate information Realtime system 0 Provides realtime information in response to requests Information Quality Business decisions are only as good as the quality of information You never want to nd yourself using technology to help you make a bad decision faster High Quality Data Accurate Complete Consistent Unique Timely LowQuality Data Customers intentionally enter inaccurate information to protect their privacy Different entry standards and formats Operators enter abbreviated or erroneous information by accident or to save time Third party and external information contains inconsistencies inaccuracies and errors Costs of LowQuality Information 0 Customers intentionally enters bad data Costs of LowQuality Information 0 Not able to track customers 0 Not able to identify customers 0 Inability to identify selling opportunities 0 Marketing to nonexistent customers 0 Dif culty tracking revenue 0 Inability to build strong customer relationships Understanding the Bene ts of Good Information Signi cantly improve the chances of making a good decision Good decisions can directly impact an organisation s bottom line Database Why are they important 0 They process data far faster than spreadsheets How are they used 0 All databases are relational it relates the tables together Database Management System DBMS 0 Allows users to create read update and delete data in a relational database Flat Files to Relational Break at files into multiple at files 0 Match ID to different types of information Statistics Skewness 0 The direction of the skew is whatever direction the tail is pointing 0 If skewed right number is positive 0 If skewed left number is negative 39 If normal number is zero ZScore 0 Relative distance from the mean in terms of standard deviations Empirical Rule Normal Data Only 0 682 lie within u o 39 9544 lie within u 20 39 9973 lie within u 30 Chebyshev s Theorem 0 At least 11z 2 of the data values in a distribution must be within 2 standard deviations of the mean 0 That means for z 1511152 or 56 of the data should be within 15 standard deviations of the mean 0 Not as precise as Empirical Rule Outliers 0 More than 3 standard deviations away from the mean Covariance 0 Positive value means positive association 0 Negative value means negative association 0 O is no association 0 Size of value is dependant on scale of x and y Correlation Coef cient 0 Positive value means positive association 0 Negative value means negative association 0 O is no association 0 Values from 1 to 1 0 Closer to O is weaker correlation 0 Correlation does not equal causation 0 03 2 almost no correlation 0 0307 2 weak correlation 0 gt07 2 strong correlation INFO 1010 Data Management and Analysis Class Notes Wed 1020 Business Intelligence and Statistics 0 In the news 0 CIA Director s email hacked quotHacked link 0 What is Business Intelligence 0 A collection of tools allowing you to analyse your data 0 Including 0 Reporting Data Warehouse Analytics Data Mart Knowledge Management Decision Support Etc 0 Bene ts of Data Warehousing 0 Extend the transformation of data into information 0 In the 1990s executives became less concerned with the day today business operations and more concerned with overall business functions 0 The data warehouse provided the ability to support decision making without disrupting the daytoday 0 Walmart strawberry pop tart hurricane example Alexandra Tilton Page 1 of 4 0 Extraction transformation and loading ETL 0 Extracts information from internal and external databases transforms the information using a common set of enterprise de nitions and loads the information into a data warehouse 0 Data mart 0 Contains a subset of data warehouse information 0 Multidimensional Analysis 0 Looking at different variables with other variables around it 0 Ex Sale of pop tarts against weather 0 Information Cleansing Scrubbing 0 An organisation must maintain highquality data in the data warehouse 0 A process that weeds out and fixes or discards inconsistent incorrect or incomplete information 0 Primary Key The unique attribute that helps identify you in a system 0 Foreign Key A primary key showing up in a different table 0 Uncovering Trends and Patterns with Data Mining 0 Data mining analysing data to extract information not offered by the raw data alone 0 Data mining tools use a variety of techniques to nd patterns and relationships in large volumes of information 0 Structured Data Data already structured in database or spreadsheet 0 Unstructured Data Data does not exist in a fixed location and can include text documents PDFs voice messages emails 0 Text mining Analyses unstructured data to nd trends and patterns in words and sentences Alexandra Tilton Page 2 of 4 0 Web mining Analyses unstructured data associated with websites to identify consumer behaviour and website navigation 0 Common forms of datamining analysis capabilities include 0 Cluster analysis technique used to divide an information set into mutually exclusive groups such that members of each group are as close together as possible and different groups are as far apart as possible 0 Association detection reveals relationship between variables along with the nature and frequency of the relationships 0 Statistical analysis Performs such functions as information correlations distributions calculations and variance analysis 0 Forecast Predictions made on the basis of timeseries information 0 Timeseries information Timestamped information collected at a particular frequency 0 Visual Business Intelligence 0 Informing Accessing large amounts of data from different management information systems 0 Infographics displaying information graphically 0 Data visualisation Allows users to see or visualise data to transform information into a business perspective 0 Data visualisation tools Sophisticated analysis techniques such as pie charts controls instruments maps timeseries graphs and more 0 Weighted Averages 0 Different components are worth different amounts of the average 0 Average each category 0 multiply by percentage 0 add up all categories Alexandra Tilton Page 3 of 4 Grouped Data 0 Given only histogram or frequency distribution 0 Find midpoint of the group and treat that as the only value in the group 0 Multiply by how many things are in the group 0 Add up for all groups divide by overall n Tree Diagrams 0 Also called Decision Trees 0 ONo False 0 1Yes True 0 Average sale price Lookup Functions 0 Allows you to match values from one column to values from another table 0 Can vertically vlookup 0 Also horizontally hlookup Derived Variable 0 Combine two or more variables using mathematical functions 0 Creates a new variable 0 Z sores are one example of this sort of thing Alexandra Tilton Page 4 of 4
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