Data Analytics And Knowledge Management

International Management School

• Publisher: Youcanprint
• Year: 2021
• ISBN:
  9791220318266
• Topic: Computer Science
• Subtopic: Data Processing
• Index: Computer Science

Explosion of the economic relevance of data is related to: first, technological progress that has drastically reduced the costs of collecting and storing data; second, the advances in analytic techniques that have allowed for more advanced processing to extract greater value from available data. So, more value is extracted from exhausted data.
Information generated for one purpose can and should be reused for another one, which means that data moves from primary to secondary uses. data are more valuable over time.
Data's true value is like an iceberg floating in the ocean: only a tiny part is visible, while much of it is hidden.
Innovative companies that understand this, can extract that hidden value and reap huge benefits.
Data's worth is its unlimited potential for reuse: the option value. What really matter for the value of data is its use and not its possession.
Data science can have incredible benefits for your business. With data science and predictive analytics, in particular, you can predict useful metrics and trends for your business. Such an approach can help you improve your ability to serve your customers or otherwise compete in the market.

1. INFORMATION SYSTEM AND KNOWLEDGE MANAGEMENT

Knowledge management (KM) is the process of creating, sharing, using and managing the knowledge and information of an organisation. It refers to a multidisciplinary approach to achieving organisational objectives by making the best use of knowledge.

Knowledge management efforts typically focus on organisational objectives such as improved performance, competitive advantage, innovation, the sharing of lessons learned, integration and continuous improvement of the organisation. These efforts overlap with organisational learning and may be distinguished from that by a greater focus on the management of knowledge as a strategic asset and on encouraging the sharing of knowledge.

KM is an enabler of organisational learning.

Information systems (IS) are formal, sociotechnical, organizational systems designed to collect, process, store, and distribute information. In a sociotechnical perspective, information systems are composed by four components: task, people, structure (or roles), and technology (that fits with the other 3 elements).

Any specific information system aims to support operations, management and decision-making. An information system is the information and communication technology (ICT) that an organization uses, and also the way in which people interact with this technology in support of business processes.

Types of information systems:

The "classic" view of Information systems found in textbooks in the 1980s was a pyramid of systems that reflected the hierarchy of the organization, usually transaction processing systems at the bottom of the pyramid, followed by management information systems, decision support systems, and ending with executive information systems at the top.

The Anthony triangle is a Convenient way to categorize and understand the purpose of different information systems in organization. It is a piramid that represents the strategy translated in simple goal.

information systems can be classified by the nature of activities they support.

1) Operational activities are tasks, duties, daily routine and practical goals. you can measure everything through the control system. The deal with day to day operation, are short term in nature, used by supervisors, operators and clerical employees, interaction with customers.

Decisions are structured, recurring and can often be automated using IS.

IS used to optimize processes, understand causes of performance problems.

2) Managerial activities: deal with the middle management activities (short term planning, organizing) Control of operational level activities: focus effectively use of resources and goal achieving strategic objectives.

Decisions are semi-structured, moderately complex, time horizon of few days to few months.

These are tactical decisions from management, in which occurs the aggregation of data from different part of the firm is important! They pass info from the operational level to the top management.

they work as “translator”, their tactical is key role to translate between operational and top management, they know both languages and have tools to elaborate data.

IS helps in performance analytics (dashboard), predictive analysis, KPI.

3) Strategic activities: the president, CEO, board of directors, deal with situation that can change the way business is done (long term planning). Eith digital economy it has been shortened

Decisions: unstructured long-term strategic issues, complex and non-routine problems with long-term ramification. Strategic decisions are not shared with all the company. top management utilize the internal info but also the external ones.

IS used to obtain summary of trends and projections, provide KPIs, Internet information extraction.

There are some New laws to classify information systems and knowledge and it’s important to know them because ignoring these postulates bring to misunderstanding and errors in our society and in policies associated.

• MOORE’S LAW:

Taken from an empirical observation by the cofounder of Intel.

“The performance of the processors, and the number of transistors available for it, is doubling every 18 months”

The limits of the first law of Moore would be only in reaching the physical limits imposed for the reduction of the size of the transistors, and therefore the scale of integration. This integration capacity and the processing make possible the use of ICT applications increasingly complex, at costs equal with the doubling of computing power.

Moore's Law refers to Moore's perception that the number of transistors on a microchip doubles every two years, though the cost of computers is halved. Moore's Law states that we can expect the speed and capability of our computers to increase every couple of years, and we will pay less for them.

• Laws of Sarnoff, MetCalfe and Reed: laws that define the value of a network respect to the number of participants/connections.
  

Sarnoff’s law: related to TV and radio.

“The value of a broadcasting network is directly proportional to the number of users.”

Value network increases when more people are connected.

Metcalfe’s law: “The value of a communication system grows with the square of the number of people connected”

Another formulation/ implication: the connection between independent networks creates a higher value than the sum of the values of individual networks. (Law linked to the spread and success of the Internet.)

Reed’s law: “the value of a network, the internet in particular, grows exponentially when combined in groups with common interests, sharing ideas, interest, goals and a sense of belonging”.

The value of a network can be:

- Linear (Sarnoff): distributing only content

- Quadratic (Metcalfe): enabling transactions for electronic commerce

- Exponential (Reed): community, social networks

• HYPE CYCLE DI GARTNER

It’s about Visibility, meaning how many times/how much people talk about it. We have 5 distinct phases:

1)trigger: A potential technology breakthrough kicks things off. Early proof-of-concept stories and media interest trigger significant publicity. Often no usable products exist a...

Table of contents

• 1. INFORMATION SYSTEM AND KNOWLEDGE MANAGEMENT
• 3. DATA ANALYSIS AND DATA SCIENCE
• 4. HUMAN COMPUTATION
• 6. STATISTICS AND DATA SCIENCE