Data mining or knowledge discovery is the process of analyzing data from different perspectives & summarizing it into useful information. This information can be used to increase revenue & cut cost or both. We know that data mining software is one of a number of analytical tools for analyzing data. It allows users to analyze data from many angels & categories it. It also summarizes the relationship identified. Technically speaking data mining is the process of correlations among dozens of fields in large relational database. In other words it is the process of sorting through large amount of data & picking out important information. It is often use by business intelligence organizations & financial analysts. It is also used in the sciences to extract information from the data set generated by modern experiment & observational methods. Data mining in relation to Enterprise Resource Planning(ERP) is the statistical & logical Continue reading
Information Systems Basics
What is Data-Driven Decision Making (DDDM)?
Data-driven decision making (DDDM) refers to a process of making decisions that are based on data and statistical analysis. This approach is becoming increasingly popular in various industries and organizations, as it allows leaders and managers to make informed decisions based on facts, rather than intuition or personal opinions. DDDM involves collecting and analyzing large amounts of data and using the insights generated to make decisions that are informed by evidence. In other words, DDDM is a systematic and empirical approach to decision making that uses data and statistics to support or reject hypotheses, to draw inferences and to make predictions. The goal of DDDM is to identify patterns, correlations, and trends in data and use that information to make decisions that are likely to lead to better outcomes. The benefits of Data-driven decision making are many and varied. Firstly, it provides a framework for making decisions that are informed Continue reading
Concept of Data Processing
Data is defined as any collection of facts. Thus, sales reports, inventory figures, test scores, customers’ names and addresses, and weather reports are all examples of data. Note that data may be numerical (e.g, inventory figures and test scores) or they may be numerical (e.g. , names of students and addresses, drawings). Data processing is the manipulation of data into a more useful form. It is the modern name for paperwork and involves the collecting, processing, and distributing of facts and figures to achieve a desired result. Data processing includes not only numerical calculations but also operations such as the classification of data and the transmission of data from one place to another. In general, we assume that these operations are performed by some type of machine or computer, although some of them could also be carried out manually. Data processing system refers to the equipment or devices and procedures Continue reading
Management Information and Control Systems (MICS) Installation
The decision to establish a formal Management Information and Control System (MICS) becomes almost inevitable in today’s business climate. The accelerating needs for uniform, concise and timely information by all levels of management dictates the establishment of such a system. The results can be better control of and greater profitability from the enterprise. Essentially the functioning of a MICS involves transmission of all pertinent data necessary to the conduct of a business to one or more management information centers, where it is maintained mid then disseminated in discrete form to all levels of management. This description provides no reference to computers or any other specific type of data processing equipment. This is to emphasize that possession of data processing equipment is not a pre-requisite for Management Information and Control Systems. Computers, punched card equipment, data collection and transmission equipment, etc., are excellent tools that can, if costs and volume warrant, Continue reading
An Overview of Real-Time Operating Systems (RTOS)
Real-Time Operating Systems (RTOS) are Operating Systems for systems operating in Real Time. These Operating Systems have functions dedicated to detecting and responding to tasks from the real world within their deadlines. Real-Time Operating Systems are systems that are subject to real time limitations and are expected to deliver services within strict time boundaries. The correctness of such systems depends not only on computational output, but also on the instant at which the system produces the output. Real-Time Operating Systems (RTOS) can be generally categorized into soft and hard real time systems. When a deadline is missed in a hard real time system, i.e. a service is not provided at the instant at which it is expected, the result would be catastrophic. Hence, hard real time systems are generally safety or mission critical. Examples of Hard Real Time Systems are, Air Traffic Control Systems, Pace makers for heart patients and Continue reading
Information System Activities
The major activities of an information system are; 1. Input of Data Resource Data about business transactions and other events must be captured and prepared for processing by the input activity. Input typically takes the form of data entry activities such as recording and editing. End uses typically record data about transactions on some type of physical medium such as paper form, or enter it directly into a computer system. This usually includes a variety of editing activities to ensure that they have recorded data correctly. Once entered, data may be transferred onto a machine-readable medium such as a magnetic disk until needed for processing. For example, data about sales transactions can be recorded on source documents such as paper sales order forms. (A source document is the original formal record of a transaction). Alternately, salespersons can capture sales data using computer keyboards or optical scanning devices; they are visually Continue reading