Data Management, Analytics, and Business Intelligence

IT for Management: On-Demand Strategies for Performance, Growth, and Sustainability Twelfth Edition Turban, Pollard, Wood Chapter 3 Data Management, Data Warehouses, and Data Governance Learning Objectives (1 of 5) Data Management Electronic Document, Record, and Content Management Information Management Data Warehouses and Data Marts Data Governance and Master Data Management (MDM) Copyright ©2021 John Wiley & Sons, Inc. 2 Data Management (1 of 2) • Oversees the end-to-end lifecycle of data from creation and initial storage to the time when it becomes obsolete and is deleted. • The goals of effective data management include: 1. 2. 3. 4. 5. 6. Mitigating the risks and costs of complying with regulations. Ensuring legal requirements are met. Safeguarding data security. Maintaining accuracy of data and availability. Certifying consistency in data that come from or go to multiple locations. Ensuring that data conform to organizational best practices for access, storage, backup, and disposal. Copyright ©2021 John Wiley & Sons, Inc. 3 Data Management (2 of 2) • Benefits of data management include: 1. 2. 3. 4. 5. 6. greater compliance higher security less legal liability improved sales and marketing strategies better product classification improved data governance to reduce risk. Copyright ©2021 John Wiley & Sons, Inc. 4 Data Management: Database Technologies • Database: A collection of data sets or records stored in a systematic way • Database management system: (DBMS) Software that integrates with data collection systems to store data in an organized way and provide facilities for accessing and managing data. • Data warehouse: Large data set that integrates data from multiple databases and data silos across the organization, and organizes them for complex analysis, knowledge discovery, and to support decision-making. • Data mart: A small-scale data warehouse that supports a single function or one department. Copyright ©2021 John Wiley & Sons, Inc. 5 Data Management: Databases • Transaction: a single logical unit of work that accesses and possibly modifies the contents of a database. • Centralized database: stores all data as a unified body in a single central computer such as a mainframe or server in one physical location. • Distributed database: stores portions of the database on multiple computers controlled by a database management system (DBMS) within a network in a client-server configuration. Copyright ©2021 John Wiley & Sons, Inc. 6 Copyright ©2021 John Wiley & Sons, Inc. 7 Data Management: Centralized database Benefits 1. Better control of data quality 2. Ease of use 3. Better IT security 4. Better data integrity Disadvantages 1. Transmission delay 2. Security 3. Reliability 4. Scalability Copyright ©2021 John Wiley & Sons, Inc. 8 Data Management: Distributed databases Advantages 1. Security 2. Reliability 3. Speed 4. Scalability Disadvantages 1. Availability 2. Expense 3. Security Copyright ©2021 John Wiley & Sons, Inc. 9 Copyright ©2021 John Wiley & Sons, Inc. 10 Copyright ©2021 John Wiley & Sons, Inc. 11 Database Management System (DBMS) • Online transaction processing (OLTP): a database design that breaks down complex information into simpler data tables to strike a balance between transaction processing efficiency and query efficiency. • Online analytics processing (OLAP): the analysis of complex data from a data warehouse. Copyright ©2021 John Wiley & Sons, Inc. 12 Database Management: Elements of a DBMS • Four important elements: 1. data structure 2. data modeling language 3. data query language, and 4. transaction mechanisms. Copyright ©2021 John Wiley & Sons, Inc. 13 Elements of a DBMS: Data structure • A specialized format for organizing and storing data. General data structures include, file, record, table, tree, and so on. Copyright ©2021 John Wiley & Sons, Inc. 14 Elements of a DBMS: Data modeling language •Approaches to the modeling language of the DBMS include hierarchical, network, relational, and object-oriented. Copyright ©2021 John Wiley & Sons, Inc. 15 Data modeling language: Network A data model that allows multiple records to be linked to the same parent. Copyright ©2021 John Wiley & Sons, Inc. 16 Data modeling language: Relational •An approach to managing data using a structure and language that involves the use of data tables to collect groups of elements into relations. Copyright ©2021 John Wiley & Sons, Inc. 17 Data modeling language: Object-Oriented (OO) •A data model that supports the modelling and creation of data entities as objects that contain both data and the relationships of those data. Copyright ©2021 John Wiley & Sons, Inc. 18 Data modeling language: Blockchain •A distributed ledger represented by a sequential chain of data blocks that records transactions, establishes identity of the user, and establishes contracts. Copyright ©2021 John Wiley & Sons, Inc. 19 Data modeling language: Blockchain • Blockchains are also designed to be secure and build trust. • The blocks in a blockchain are chained together using cryptographically created keys (hash). Hash: a function that takes an input value and outputs a unique fixed-size hexadecimal number that is the cryptographically created key for the data. Proof-of-work and peer-to-peer network are two other mechanisms that are used to boost the security of the blockchain. • • • In all industry sectors, the level of trust and security that currently only blockchain can offer is critical to a secure supply chain. Copyright ©2021 John Wiley & Sons, Inc. 20 Elements of a DBMS: Data Query Language •Query is an ad hoc (unplanned) user request for specific data. • Structure Query Language (SQL) is the most widely-used mainstream declarative language that works with any database to simplify data access by requiring that users only declare what data they want rather than tell the DBMS how to get it. Copyright ©2021 John Wiley & Sons, Inc. 21 • NoSQL is a non-relational database query language. Data Query Language: Not Only SQL (NoSQL) • The advantages of NoSQL include: • higher performance • easy distribution of data on different nodes, which enables scalability and fault tolerance • greater flexibility • simpler administration • NewSQL is the latest type of scalable database that supports a SQL interface. It combines the reliability of SQL and the speed and performance of NoSQL to provide better functionality and services and provide database administrators with ACID performance guarantees. Copyright ©2021 John Wiley & Sons, Inc. 22 DBMS Vendor Rankings • The top five enterprise database management systems of 2019 are: 1. Oracle’s Database 18c, 2. Microsoft SQL Server 2019, 3. IBM DB2, 4. SAP Sybase ASE, and 5. PostgreSQL Copyright ©2021 John Wiley & Sons, Inc. 23 Data Management : Questions 1. 2. 3. 4. Describe the purpose and benefits of data management. Define a database and a database management system (DBMS). What are the four elements of a DBMS? Explain what an online transaction-processing (OLAP) system does, and which database technology is most appropriate for its use. 5. Describe the functions of a DBMS. 6. What is a relational database management system? 7. What are the main elements of a block in a blockchain? 8. What are the three mechanisms that help keep a blockchain secure? Copyright ©2021 John Wiley & Sons, Inc. 24 Learning Objectives (2 of 5) Data Management Electronic Document, Record, and Content Management Information Management Data Warehouses and Data Marts Data Governance and Master Data Management (MDM) Copyright ©2021 John Wiley & Sons, Inc. 25 Data Warehouses and Data Marts • Data warehouse is a central depository of integrated data from one or more disparate sources. • Data mart is a small-scale data warehouse that supports a single function or one department. Copyright ©2021 John Wiley & Sons, Inc. 26 Moving Data from a Database to a Data Warehouse or a Data Mart • Data are moved in three main steps: 1. Extracted from designated databases. 2. Transformed by standardizing formats, cleaning the data, and integrating them. 3. Loaded into a data warehouse. Copyright ©2021 John Wiley & Sons, Inc. 27 Copyright ©2021 John Wiley & Son, Inc. 28 Building and Using a Data Warehouse Copyright ©2021 John Wiley & Son, Inc. 29 Real-Time Support from an Active Data Warehouse • Active data warehouse (ADW): the technical ability to capture transactions when they change and integrate them into the warehouse along with maintaining bath or scheduled cycle refreshes. • Companies with an ADW are able to: • Interact with a customer to provide superior customer service. • Respond to business events in near real time. • Share up-to-date status data among merchants, vendors, customers, and associates. Copyright ©2021 John Wiley & Sons, Inc. 30 Data Warehousing Supports Action as Well as Decisions • • Data warehouses are infrastructure investments that companies in a variety of industries make to support ongoing and future operations, including: Marketing, Pricing and contracts, Forecasting, Sales, and Financial Enterprise data warehouses (EDWs) are data warehouses that integrate data from many different databases across an entire enterprise. Copyright ©2021 John Wiley & Sons, Inc. 31 Data Lakes •A single store of structured, semi-structured, and unstructured enterprise data stored in its natural format. Copyright ©2021 John Wiley & Sons, Inc. 32 Data Warehouses and Data Marts: Questions 1. What are the differences between databases and data warehouses? 2. What are the differences between data warehouses and data marts? 3. Explain ETL. 4. Explain CDC. 5. What is an advantage of an enterprise data warehouse (EDW)? 6. Why might a company invest in a data mart instead of a data warehouse? 7. What levels of an organization benefit most from a data warehouse? 8. How is a data lake different from a data warehouse? Copyright ©2021 John Wiley & Sons, Inc. 33 Learning Objectives (3 of 5) Data Management Electronic Document, Record, and Content Management Information Management Data Warehouses and Data Marts Data Governance and Master Data Management (MDM) Copyright ©2021 John Wiley & Sons, Inc. 34 Data Governance and Master Data Management (MDM) • Data governance is the overall management of the availability, usability, integrity, and security of data used in an enterprise. • Three industries that rely heavily on data governance: • Food industry • Financial services industry • Health-care industry Copyright ©2021 John Wiley & Sons, Inc. 35 Copyright ©2021 John Wiley & Sons, Inc. 36 Master Data and Master Data Management (MDM) • Master data: the term used to describe businesscritical information on customers, products and services, vendors, locations, employees, and other things needed for operations and business transactions • Master data management (MDM) integrates data from various sources or enterprise applications to create a more complete (unified) view of a customer, product, or other entity. Copyright ©2021 John Wiley & Sons, Inc. 37 Copyright ©2021 John Wiley & Sons, Inc. 38 Master Reference File and Data Entities • Data entity is anything real or abstract about which a company wants to collect and store data. • Master file is a collection of records describing one of the main entities in a database, such as customers, products, employees, and vendor. It is usually periodically updated. • Customer-centric is an approach to doing business that focuses on providing a positive customer experience at and after the point of sale to drive profit and gain competitive advantage. Copyright ©2021 John Wiley & Sons, Inc. 39 Benefits of Data Governance and Master Data Management 1. Improved regulatory compliance 2. More efficient decision-making 3. Improved data understanding 4. Increased revenue Copyright ©2021 John Wiley & Sons, Inc. 40 Data Governance and Master Data Management (MDM): Questions 1. Explain why it is important to develop an effective data governance program? 2. Explain the purposes of master data management. 3. Why has interest in data governance and MDM increased? 4. What are two ways that data is used in business? 5. What are three benefits of data governance. Copyright ©2021 John Wiley & Sons, Inc. 41 Learning Objectives (4 of 5) Data Management Electronic Document, Record, and Content Management Information Management Data Warehouses and Data Marts Data Governance and Master Data Management (MDM) Copyright ©2021 John Wiley & Sons, Inc. 42 Information Management • Information management is the process of collecting, storing, managing, and maintaining data that is accurate, timely, reliable, valid, available, unique, and relevant to an organization Copyright ©2021 John Wiley & Sons, Inc. 43 Data Life Cycle and Data Principles (1 of 2) Copyright ©2021 John Wiley & Sons, Inc. 44 Data Life Cycle and Data Principles (2 of 2) • Three general data principles relate to the data life cycle perspective and help guide IT investment decisions. These are: 1. Principle of diminishing data value 2. Principle of 90/90 data use 3. Principle of data in context Copyright ©2021 John Wiley & Sons, Inc. 45 Breaking Down Data Silos • Data silo are standalone data stores. Their data are not accessible by other ISs that need it or outside that department. Copyright ©2021 John Wiley & Sons, Inc. 46 Culture Must Change • Moving from silos to collaboration requires a culture change: 1. Publicly acknowledge shared goals 2. Embrace the “why” 3. Culture comes from the top Copyright ©2021 John Wiley & Sons, Inc. 47 Garbage In, Garbage Out • Dirty data are data of such poor quality that they cannot be trusted or relied upon for decisions • Inaccurate Data • Missing Data • Poorly Designed Interfaces • Nonstandardized Data Formats • Outdated Data Copyright ©2021 John Wiley & Sons, Inc. 48 Copyright ©2021 John Wiley & Sons, Inc. 49 The Cost of Dirty Data • Lost business • Time spent preventing errors • Time spent correcting errors Copyright ©2021 John Wiley & Sons, Inc. 50 Information Management Benefits 1. Improved decision quality 2. Improved accuracy and reliability of management predictions 3. Lower time and cost 4. Better data quality Copyright ©2021 John Wiley & Sons, Inc. 51 Information Management : Questions 1. 2. 3. 4. What are the stages of the data lifecycle? What is the function of master data management (MDM)? What are the consequences of not cleaning “dirty data”? What is the “silo effect” and how does it affect business performance? 5. What three factors are driving collaboration and information sharing? 6. What are the business benefits of information management? 7. Why is it important to have good information management practices? Copyright ©2021 John Wiley & Sons, Inc. 52 Learning Objectives (4 of 5) Data Management Electronic Document, Record, and Content Management Information Management Data Warehouses and Data Marts Data Governance and Master Data Management (MDM) Copyright ©2021 John Wiley & Sons, Inc. 53 Electronic Document, Record, and Content Management • Electronic content is a collection of documents, records, and unstructured data available as a broad range of digital assets, such as audio, video, flash, multimedia files, and so on. • Electronic document is any paper, electronic form, file, email, fax, contract, lease, and so on actively being worked on. • Electronic record is any document that has been made final and is no longer meant to be altered. Copyright ©2021 John Wiley & Sons, Inc. 54 Copyright ©2021 John Wiley & Sons, Inc. 55 Electronic Document Management, EDMS, and Electronic Records Management • Electronic document management is the electronic storage, maintenance, and tracking of electronic documents and electronic images of paper-based information. • Electronic document management system is a software system for creating, organizing, storing, and retrieving different kinds of electronic documents. • Electronic record management establishes policies and standards for maintaining diverse types of records. Copyright ©2021 John Wiley & Sons, Inc. 56 Electronic Records Management Systems • ERMS is the technology tool used to electronically manage the creation and maintenance of records within classification schemes, apply retention and disposal schedules, and control access and use. • ERMS can help a business by: • Enabling the company to access and use the content contained in documents. • Cutting labor costs by automating business processes. • Reducing the time and effort required to locate information the business needs to support decision-making. • Improving the security of content, thereby reducing the risk of intellectual property theft. • Minimizing the costs associated with printing, storing, and searching for content. Copyright ©2021 John Wiley & Sons, Inc. 57 Enterprise Content Management and ECMS • Enterprise content management is the capture, storage, retrieval, and management of a diverse set of digital assets including documents, records, emails, electronic communications, images, video, flash, audio, and multimedia. • Enterprise content management system (ECMS) captures, preserves, and manages structured and unstructured a wide variety of digital assets and secures them digitally in compliance with policies. Copyright ©2021 John Wiley & Sons, Inc. 58 Choosing an EDMS, ERMS, or ECMS (1 of 2) • When choosing an EDMS, ERMS, or ECMS it is important to match the strategic needs of the company with the capabilities of the system • Critical differences between an EDMS and an ERMS: 1. 2. EDMS users need to check in and check out stored documents quickly and easily and unlock them for future revision, while maintaining version tracking and histories of access, whereas ERMS users require that records be kept in their original format for retrieval for compliance or legal reasons Software security is essential in an ERMS, but only desirable in a EDMS. Copyright ©2021 John Wiley & Sons, Inc. 59 Choosing an EDMS, ERMS, or ECMS (2 of 2) • An ECMS has a broader mission. It differs from EDMS and ERMS in that: 1. It is designed to facilitate record lifecycle management, information governance, and collaboration. 2. An ECMS also provides a single source of trusted information. It also provides version control and synchronization, along with intuitive search and discovery functions. 3. An ECMS also can integrate with other applications to deliver viewable content across multiple platforms, along with security and optimized business processes in its content storage and retrieval systems Copyright ©2021 John Wiley & Sons, Inc. 60 Electronic Document, Record, and Content Management: Questions 1. Define the term “electronic content.” 2. Describe the main differences between an electronic document and an electronic record. 3. Why do companies use an electronic records management system? 4. Names three types of lawsuits that can be brought against a company related to their electronic records. 5. What characteristic of an ERMS allows employees to access and change only the documents they are authorized to handle? 6. What is the difference between an electronic document management system (EDMS) and an electronic record management system (ERMS)? 7. What is the shared goal of EDMS, ERMS, and ECMS? Copyright ©2021 John Wiley & Sons, Inc. 61 Copyright Copyright © 2021 John Wiley & Sons, Inc. All rights reserved. Reproduction or translation of this work beyond that permitted in Section 117 of the 1976 United States Act without the express written permission of the copyright owner is unlawful. Request for further information should be addressed to the Permissions Department, John Wiley & Sons, Inc. The purchaser may make back-up copies for his/her own use only and not for distribution or resale. The Publisher assumes no responsibility for errors, omissions, or damages, caused by the use of these programs or from the use of the information contained herein. Copyright ©2021 John Wiley & Sons, Inc. 62

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