BUS 1000 Lecture Notes - Lecture 6: Predictive Analytics, Descriptive Statistics, Data Mining

• School: University of Denver
• Department: Business Core
• Course: BUS 1000
• Professor: Haag Stephen

Document Summary

Why are we talking about big data, big data is large and complex, combination of structured and unstructured data, a collection of data sets that are so large and complex that they become awkward to. Involves volume, veracity, variety, and velocity work with using traditional database management tools: when is data structured/unstructured, structured stored in a database small amounts fit on spreadsheet. Its understood what should be stored and where. Think a few words or numbers in each storage location: unstructured, naturally gathered, unpredictable as to what is stored where. Internal to company or hosted remotely (cloud: what kinds of systems are in use for big data, databases, data warehouses, network software internet, what is a database, organized, efficient storage of data. Inferential statistics: descriptive statistics, optimization, simulation, data mining, predictive analytics, text analytics, what is data mining, two critical conditions must be present, organization must have clean, consistent data.