Summary: Bia

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  • 1 Week 1

  • 1.1 Lecture 01: Setting the Stage

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  • What is clickstream data?

    The "journey" you follow when browsing through the internet, and clicking from page to page.
  • What is descriptive analytics?

    Focus on 'What happend'
    Dashboards, excel sheets, past data.
  • What are examples of predictive analytics?

    Describing trends
    Regression Analysis
  • What does a Business Analyst typically do?

    Uses BI tools and applications to understand and improve business conditions and business processes.
    • Descriptive analytics
  • What does a Data Scientist typically do?

    Use advanced algorithms and interactive exploration tools to uncover non-obvious patterns in data.
    • Predictive and Prescriptive analytics
    • Has a multidisciplinary background
  • What is the role of a Data Architect?

    • IT specialists that design and manage data systems.
    • Sets policies for how data is stored and accessed
    • Coordinates various data sources
    • Integrates new data technologies into existing IT infrastructure   
  • What is the role of a Data Engineer?

    • Build system that collect, manage and convert raw data into usable information
    • Make data accessible so that it can be used to evaluate and optimize organizational performance.
  • How do organisations use big data in practice?

    Improving existing business models by using
    • New data (sensors, social media)
    • New insight (outlier detection, big data techniques)
    • New action (faster response to change in sentiments)

    Innovate the business model
    • Data monetization by wrapping: (enriching core products with data)
    • Data monetization by selling (offering info for sale)
    • Data monetization by bartering ( trading info)
    • Digital Transformation (becoming active in new industries)
  • 1.2.1 Data Driven Business Models - Hartmann et al.

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  • What are data driven business models?

    Business Models supporting data related-ventures to capture value.
  • What are the six clusters of Data Driven Business Models?

      1. Free data collector and aggregator
      2. Analytics as a service
      3. Data generation and analysis
      4. Free data knowledge and discovery
      5. Data aggregation as a service
      6. Multi-source data mash up and analysis

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