Data Fundamentals in Business Tutorial

• BAIT Model:

  Business: requirements, products, processes, requirements, value, strategy

  Applications: user centric design, latency, functionality

  Information: master records, transactions, inventory positions, measurement readings, information flow

  Technology: foundation utilized to develop and operate the applications and information ecosystems
• DIKW Pyramid:

  Data - individual facts, figures, signals, observations

  --> context

  Information - organized, structured, categorized, useful, condensed

  --> meaning

  Knowledge - idea, learning, notion, concept, compared, discussed

  --> insight

  Wisdom - understanding, integration, decision making process
• data management: data is valuable and must be treated as an asset that has value and must be managed appropriately
• knowledge management: the process of acquiring, organizing, and using knowledge to accomplish organizational goals
• explicit knowledge - knowing what

  implicit knowledge - knowing how

  tacit knowledge - knowing why
• OODA Loop:

  • observe
  • orient
  • decide
  • Act
• Pace layer

  • provides a useful way to examine a multimodal approach originally developed to assist IT departments develop cost effective application management strategies while supporting business innovation
  • these concepts are useful when a "one size fits all" approach doesn't meet the need and applying a separation of concerns design principle is necessary