BMGT 301 Lecture Notes - Lecture 16: Inventory Turnover, Database Design, Cardinality

• School: University of Maryland
• Department: Business and Management
• Course: BMGT 301
• Professor: Wei Chen

Document Summary

Systems database management: data- raw facts and figures. Information- when data is presented in context that can answer question or support decision making: knowledge- when info is combined with manager"s knowledge, stronger decisions can be made. Companies that benefited from data mastery: walmart, capital one. Efficiency starts with retail link proprietary system: retail link- records a sale and automatically does inventory reorders, scheduling, and delivery. Inventory turnover ratio- ratio of company"s annual sales / inventory. Exceptional data asset leverage in the service sector. Data powered competence move from a chain of cosmos to largest gaming company by revenue. Database design: conceptual model: conceptual design- abstract model of database from business perspective, er diagram- entities in the database and their relationships, entities- a person, place, object, event or concept that data can be collected about. Entity instance- person, place, object: relationships- link between entities.