Download DATA IS THE NEW CURRENCY DATA IS THE NEW CURRENCY

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DATA IS THE NEW CURRENCY
Prepared by Ohida Sultana
Report Distributed May 21, 2015
Kaplan University
Prepared for the CEO
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DATA IS THE NEW CURRENCY
Abstract
Data is the new currency of the 21st Century Enterprise. Web user could buy and sell
own data. You’ll find the stories for the big data as the new currency for the Technology. Also,
you can find the stories on stolen data as a currency. For those reasons, big data can make and
break a company. Businesses are looking for a technology-based competitive advantage. Big
data is about massive amounts of observational data. It is supporting different types of decisions
and decision time frames. Large-scale network analysis is extremely important in the big data
environment. Knowledge, Information, and Data are key words. Those are also fundamental
concepts in organizational learning, knowledge management, and intellectual capital.
Many large organization use business intelligence systems to monitor a wide range of
key business performance indicators at corporate, departmental, division and business unite
level. Successful business continuously looks for areas where they could improve performance
by monitoring, reviewing and analyzing the information extracted from the data produced
through their day-to-day operation. Most modern businesses have data warehouses and reporting
systems. Also, a content specific data mining technology to support comprehensive loss
prevention within a large retail environment.
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Introduction
We live in data driven world. The Information and Communication technologies
revolution brought a digital world with huge amounts of data available. To understand how data
fits into this evolution, we need to think our conception of the currencies. Currency is how we
create and exchange economic value across geography and through time. It is anything that can
serve as a medium of exchange, something that can be “cash out” for good and service, or used
to pay debt or store value for future use. Data has each of these essential characteristics, because
many business transactions involve selling and buying data. When we use services such as
Facebook, Twitter, or Google, we pay for their service. The debate about whether the data that is
being stored, collected and analyzed could act as a new form of currency.
The relationship between Data Warehousing and Business Intelligence
A data warehouse is a relational database that is designed for query and analysis rather
than for transaction processing. It usually contains historical data derived from transaction data.
Its environment includes transportation, an extraction, transformation, and loading (ELT)
solution, Oracle Warehouse Builder, an online analytical processing (OLAP) engine, client
analysis tools, and other application that manage the process of gathering and delivering it to
business users.
Data warehouse are designed to help you analyze data. Data sources can be operational
databases, historical data, and external data for example, from market research companies or
from the Internet, or information from the already existing data warehouse environment. The
data sources can be relational databases or any other data structure that supports the line of
business applications. They must resolve problems such as naming conflicts and inconsistencies
among unite of measure. Data should not change when it entered into the warehouse. This is
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logical because the purpose of a warehouse is to enable you to analyze has occurred. In the same
operation system or applications apply business intelligence. It must apply business logic to
enrich the data with analytical insights for business users.
The relationship between Data Mining and Business Intelligence
In Business Intelligence context, Data mining is used for finding and extracting
meaningful knowledge in corporate data warehouse that can support business decision. It is a
complementary tool to other data analysis techniques such as statistics, OLAP, spreadsheets,
neural network, decision trees, genetic algorithms, and data visualization to handle huge
quantities of data. Data mining output is generally categorized as association, clustering,
classification, and prediction. Web mining technology is an important branch of data mining.
The web server as a huge, wide, distributed, global information service center for news,
advertisements, education, government, e-commerce, and other service. The Web mining has
gradually become more and more important in data mining.
Definition
Data Science
Data Science combines the allure of Big Data, the fascination of Unstructured Data, the
precision of advanced mathematics and statistics, the innovation of social media, the creativity of
story telling, the investigation and inquiry of forensics, and the ability to use all of those skills
together while still being able to demonstrate the results to non-technical audiences.
Data
A set of discrete object facts about an event or processes that have little use by
themselves unless converted into information. Data for example are numerical quantities or other
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attributes derived from observation, experiment, or calculation, cost, speed, time and capacity are
quantitative data.
Information
Data endowed with relevant and purpose. It has meaning and it is organized for some
purpose. Information for example, is a collection of data and associated explanations,
interpretations, and other textual material concerning a particular object, event, or process.
Knowledge
A fluid mix of framed experience, value, contextual information, expert insight and
grounded intuition that provides an environment and framework for evaluation and incorporating
new experiences and information. It originates and is applied in the minds of people. In
organizations, it often becomes embedded not only documents or repositories but also in
organizational routing, processes, practices, and norms.
Information System (IS)
An Information System (IS) is a system composed of people and computers that processes
or interprets information. The term is also sometimes used in more restricted senses to refer to
only the software used to run a computerized database or to refer to only a computer system.
Business Intelligence
A set of methodologies, processes, architectures, and technologies that leverage the output
of information management processes for analysis, reporting, performance management, and
information delivery. Research coverage includes executive dashboards as well as query and
reporting tools.
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Distinguishes between data, information, and knowledge
Data
Computers need data.
Information
Human needs Information
Knowledge
Knowledge is the application
of information.
Data is a building block
Information
gives
and context
meaning The knowledge links all the
information
together
produce
comprehensive
a
to
policy, Process or Procedure.
Data is raw. It has no shaped,
Once data has been processed Knowledge
processed or interpreted. It is a and turned into information, it management
allows
to
gain
an
series of 1s and zeros that becomes palatable to human accurate and complete picture
humans would not be able to readers. It takes on context of the enterprise Policies,
read. It is disorganized and and structure. Its becomes Process, and Procedures that
unfriendly.
useful for businesses to make become transformed into an
decisions, and it forms the enterprise asset.
basis of progress.
The Information Systems can be used to support business
The three fundamental roles of Information System in business information storage and
analysis, assist with marking decisions and assist with business processes. The Information
systems (IS) that exit across the enterprise such as supply chain man- agreement, customer
relationship management and enterprise resource planning. Information System refers to a
DATA IS THE NEW CURRENCY
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system of people, data, and actions that process the information in an organization. A functional
business information system support is the business function of marketing, production,
accounting, finance, and human resource management through a variety business operational and
management practices.
Identifies three different information system products benefits and drawbacks
HP software is the enterprise software segment of the information technology company.
HP sells Information Management software that is used to organize, protect, retrieve, acquire,
manage and maintain information. HP software upgrade their products of its HP information
management software portfolio, HP data protector, integrated archiving, database archiving, HP
storage Essentials, and a number of IT consulting and professional services designed to help
customers integrate and deploy information management solutions across the lifecycle, including
capture, monitor, retain, protect, and find.
HP Information Management Services provide

A sound data foundation for business intelligence and information management initiatives

Transformation of BI environments from multiple disconnected systems into a single
consolidated program

A roadmap and robust data model for all your business intelligence initiatives

An extensible framework that adapts to changing business environments

Flexible structures based on industry trends and best practices

Improved data sharing and collaboration among customer, employees and partners
(HP Information Management Services | HP® Official Site)
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IBM are transforming and placing new demands on enterprise IT infrastructure for
cloud, big data, analytics, mobile solution and social business. Power servers offer an ideal
architecture to deliver superior security and stronger business demands, uncover new value in
your data to drive innovation, and securely and efficiently deliver business services to help
reduce costs . The Power system is designed for big data. The Power server is optimized for the
compute intensive performance demands of database and analytics applications. Power systems’
open data – centric design with computing power, memory bandwidth, bog memory, and broad
data pathway to process and move data through applications in way that are easier to consume
and manage. It is resolve the security and privacy with highly network and data intensive
applications.
Oracle Corporation develops and markets an integrated line of software products for
database management, applications development, office automation, and decision support as well
as Oracle Applications. Oracle Corporation is the world’s second largest software company.
Oracle Application provides the E-business suite, the business intelligence, supply chain
management. It is also provides a full integrated suite more than 70 software modules for
financial management, manufacturing, project systems, human resource, sales and service
management. Oracle offers its database, tools, and application products, education and support
services, in over 145 countries around in the world. The Business Intelligence System is a prepackaged decision support solution that is integrated with Oracle application. User access the
Business Intelligence System thought a customizable web page for easy access for vital
information. “Oracle Business Intelligence System provides a powerful corporate management
framework for enhanced and timely decision making by enabling managers to proactively
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measure and analyze corporate performance (September 2001)”. The Business Intelligence
System also provides business view and analysis workbook.
Recommends
It appears that a combination of steps can be used to Information System greater
performance for Oracle. Most important you get everything what is need to keep your
Oracle servers running at peak performance with one standard price. Oracle system
software including Oracle Linux, Oracle VM, and embedded server and storage software
can stay up-to-date without separate fees. Only Oracle provides a complete, integrated
server system coupled with complete and integrated support. Oracle Premier support for
systems goes beyond break- fix assistance to provide powerful maintenance and
management tools without additional cost. “Oracle has earned seventeen awards from the
Technology Service Industry Association (TSIA) for service excellence (The Oracle
System Support Advantage)”.
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Reference

Data: the new currency? Retrieved from
http://blog.digital.telefonica.com/wp-content/uploads/2014/06/Data-the-newcurrency.pdf

Effects of Business Intelligence Techniques on Enterprise Productivity. Retrieved from
http://www.academia.edu/.../Effects_of_Business_Intelligence_T...

Data Mining: What is Data Mining? Retrieved from
http://www.anderson.ucla.edu/.../data

The Three Fundamental Roles of Information Systems in Business. Retrieved from
http://www.smallbusiness.chron.com

DeBroux, Amber; Reed, Chris. (2015). How to Build Trust in Your Data warehouse
Business Intelligence Journal.

HP Information Management Services | HP® Official Site
http://www8.hp.com/us/en/business.../it-services.html?

IBM Power Systems advantages
http://www-03.ibm.com/systems/power/advantages/

The Oracle System Support Advantage
http://www.oracle.com/us/support/library/system-support-advantage-ds-1914402.pdf

Introduction to Oracle Business Intelligence System ...
http://ww.oracle.com/.../ebusiness/ebs-engineered-systems

(September 2001). Oracle E-Business Intelligence Performance
Framework and Performance Management Viewer. Retrieved from
https://docs.oracle.com/cd/A91568_01/acrobat/115ebipmfug.pdf
Management