Data Driven Decision Making Assignment
Data Driven Decision Making Assignment
Assignment 1
Question 1
(a): Explain the importance of Data in 2020’s ‘Data Driven Decision Making’.
A: In 2020s the competition is really high so it is crucial for companies to attract and retain a
good customer base which is possible through proper data driven decision making. Data
driven decision making helps to make proper decisions that help benefit the business.
Improper or incomplete data could thus affect decisions and lead to losses for a business. So
in 2020 data driven decision making is of prime importance and hence recording everyday
data is important in 2020.
One can easily see an increase in revenue and reduction in costs due to data driven decision
making.
(b): Categorize Enterprise Data Types with examples.
A: Types of enterprise data are: -
Transactional Data: are the elements that support the on-going operations of an
organization and are included in the application systems that automate key business
processes. This can include areas such as sales, service, order management,
manufacturing, purchasing, billing, accounts receivable and accounts payable.
EXAMPLE: include sales orders, invoices, purchase orders, shipping documents, pass-
port applications, credit card payments, and insurance claims.
ANALYTICAL DATA- are the numerical values, metrics, and measurements that
provide business intelligence and support organizational decision making. Typically
analytical data is stored in Online Analytical Processing (OLAP) repositories optimized
for decision support, such as enterprise data warehouses and department data
marts. EXAMPLE: include grouping customers for market segmentation or changes in
purchase volume over time.
MASTER DATA- is usually considered to play a key role in the core operation of a
business. Moreover, master data refers to the key organizational entities that are
used by several functional groups and are typically stored in different data systems
across an organization. EXAMPLE: Customers, Employees, Vendors, Suppliers, Parts,
Products, Locations, Contact Mechanisms, Profiles, Accounting Items, Contracts,
Policies
(c): Discuss in brief about Structured – Semi Structured – Unstructured Data.
A: The types of data are: -
a chunk of information
the act or end result of expertise the internal nature of factors or of seeing intuitively
(referred to as noesis in Greek)
an introspection
the electricity of acute commentary and deduction, discernment, and perception,
referred to as intellection or noesis
Decimal Number System Decimal number system is a base 10 number system having
10 digits from 0 to 9. This means that any numerical quantity can be represented
using these 10 digits. Decimal number system is also a positional value system.
Octal number system has eight digits – 0, 1, 2, 3, 4, 5, 6 and 7. Octal number system
is also a positional value system with where each digit has its value expressed in
powers of 8.
Hexadecimal Number System has 16 symbols – 0 to 9 and A to F where A is equal to
10, B is equal to 11 and so on till F. Hexadecimal number system is also a positional
value system with where each digit has its value expressed in powers of 16.
Binary number system is one of the four types of number system. In computer
applications, where binary numbers are represented by only two symbols or digits,
i.e. 0 (zero) and 1(one). The binary numbers here are expressed in the base-2
numeral system. For example, (101)2 is a binary number
(b): How to convert Decimal to Binary / Octal / Hexadecimal and how to convert Binary to
Decimal, Octal to Decimal and Hexadecimal to Decimal Number Systems.
A: To convert: -
DECIMAL TO BINARY
Converting decimal to binary number equivalents is to write down the decimal
number and to continually divide-by-2 (two) to give a result and a remainder of
either a “1” or a “0” until the final result equals zero.
DECIMAL TO OCTAL
In case of decimal to octal, we divide the number by 8 and write the remainders in
the reverse order to get the equivalent octal number.
DECIMAL TO HEXADECIMAL
Divide the number by 16. Get the integer quotient for the next iteration. Get the
remainder for the hex digit. Repeat the steps until the quotient is equal to 0.
BINARY TO DECIMAL
Write down the binary number. Starting from the left, double your previous total
and add the current digit. Double your current total and add the next leftmost digit.
Repeat the previous step.
OCTAL TO DECIMAL
Start the decimal result at 0. Remove the most significant octal digit (leftmost) and
add it to the result. If all octal digits have been removed, you're done. Stop.
Otherwise, multiply the result by 8. Go to step 2.
HEXADECIMAL TO DECIMAL
Divide the number by 16. Get the integer quotient for the next iteration. Get the
remainder for the hex digit. Repeat the steps until the quotient is equal to 0.