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A data warehouse constructed from integrated data source systems does not require ETL, staging databases, or operational data store databases. The integrated data source systems may be considered to be a part of a distributed operational data store layer. Data federation methods or data virtualization methods may be used to access the distributed integrated source data systems to consolidate and aggregate data directly into the data warehouse database tables. Unlike the ETL-based data warehouse, the integrated source data systems and the data warehouse are all integrated since there is no transformation of dimensional or reference data. This integrated data warehouse architecture supports the drill down from the aggregate data of the data warehouse to the transactional data of the integrated source data systems.
The official definition provided by DAMA International, the professional organization for those in the data management profession, is: "Data Resource Management is the development and execution of architectures, policies, practices and procedures that properly manage the full data lifecycle needs of an enterprise." {{DAMA International}} This definition is fairly broad and encompasses a number of professions which may not have direct technical contact with lower-level aspects of data management, such as relational database management.
In modern management usage, one can easily discern a trend away from the term 'data' in composite expressions to the term information or even knowledge when talking in non-technical context. Thus there exists not only data management, but also information management and knowledge management. This is a misleading trend as it obscures that traditional data are managed or somehow processed on second looks. The distinction between data and derived values can be seen in the information ladder. While data can exist as such, 'information' and 'knowledge' are always in the "eye" (or rather the brain) of the beholder and can only be measured in relative units.
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Business intelligence (BI) is a set of theories, methodologies, architectures, and technologies that transform raw data into meaningful and useful information for business purposes. BI can handle enormous amounts of unstructured data to help identify, develop and otherwise create new opportunities. BI, in simple words, makes interpreting voluminous data friendly. Making use of new opportunities and implementing an effective strategy can provide a competitive market advantage and long-term stability.
BI technologies provide historical, current and predictive views of business operations. Common functions of business intelligence technologies are reporting, online analytical processing, analytics, data mining, process mining, complex event processing, business performance management, benchmarking, text mining, predictive analytics and prescriptive analytics.
The actual data mining task is the automatic or semi-automatic analysis of large quantities of data to extract previously unknown interesting patterns such as groups of data records (cluster analysis), unusual records (anomaly detection) and dependencies (association rule mining).
This usually involves using database techniques such as spatial indices. These patterns can then be seen as a kind of summary of the input data, and may be used in further analysis or, for example, in machine learning and predictive analytics. For example, the data mining step might identify multiple groups in the data, which can then be used to obtain more accurate prediction results by a decision support system. Neither the data collection, data preparation, nor result interpretation and reporting are part of the data mining step, but do belong to the overall KDD process as additional steps.
GNOSIS Management Ltd. has been founded in order to provide Data & Information Management Services and Business Solutions mainly for the Banking and Insurance Sectors.
info [at] gnosis-management [dot] com
+357 22 011 149
+357 22 768 405
36, Stasinou Street, Strovolos, Cyprus
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Important Events in Cyprus and Greece for Insurance Information Systems
Last Week Gnosis Management and Asseco Group conducted...
- Bank Of Piraeus Greece
- Bank of Piraeus Cyprus
