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LN5_Data_Management

LN5_Data_Management - F ile or Table MGCR 331 Information...

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File or Table MGCR 331 – Information Systems (“IT Impacts on Organizations”) Data Management Lecture Note 5 LEARNING OBJECTIVES 1. Understand the importance of data and difficulties in managing data 2. Understand what relational databases are 3. Identify and distinguish between the following parts of a relational database: tables, records, fields, field values 4. Understand what are primary keys and foreign keys and their role in relational database 5. Components of Database: DDL, data dictionary, and DML. Summary 1 The planet is awash in data. Cash registers ring up transactions worldwide. Web browsers leave a trail of cookie crumbs nearly everywhere they go. And with RFID, inventory can literally announce its presence so that firms can precisely journal every hop their products make along the value chain: “I’m arriving in the warehouse”, “I’m on the store shelf”, “I’m leaving out the front door”. And with this flood of data comes a tidal wave of opportunity. Increasingly standardized corporate data, and access to rich, third party datasets; all leveraged by cheap, fast computing and easier-to-use software; are collectively enabling a new age of data-driven, fact-based decision making. The benefits of all this data and number crunching are very real, indeed. Data leverage lies at the center of competitive advantage we’ve studied in the Zara, Netflix, and Google cases. Data mastery has helped vault Wal-Mart to the top of the Fortune 500 list. It helped Harrah’s Casino Hotels grow to be twice as profitable as similarly-sized Caesar’s, and rich enough to acquire this rival. And data helped Capital One find valuable customers that competitors were ignoring, delivering ten-year financial performance a full 10 times greater than 1 1 Excerpt from Gallaugher textbook (http://www.gallaugher.com/The%20Data%20Asset.pdf) 1
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the S&P 500. Data-driven decision making is even credited with helping the Red Sox win their first World Series in 83 years, and with helping the New England Patriots win three Super Bowls in four years. This lecture note explains concepts that most of the business managers should be aware of to build and/or understand the data management systems within their organizations. Introduction A study by Gartner Research claims that the amount of data on corporate hard drives doubles every six months, while IDC states that the collective number of those bits already exceeds the number of stars in the universe. Wal-Mart alone boasts a data volume nearly 30 times as large as the entire print collection of the U.S. Library of Congress 2 . Businesses are recognizing the importance of data and data management since new types of data enable more detailed analysis of customer, competition, as well as other critical information. Further, more frequent, and current data collection is required to enable a business to respond quickly to changing business environment. However, the process of managing data (acquiring, keeping, and updating to ensure high data quality) is becoming increasingly difficult.
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