Module Review Questions

Module Review Questions

Companies create business records of many types and store the electronic files using an electronic records management (ERM) system. Explain why an ERM is a senior management issue and not simply an IT issue.

The process of electronic records management (ERM) is the use of automated methods/ techniques in managing different types of records, not considering their formats. ERM has been found to be among the safest methods of keeping records for any business entity. Electronic records management has been found to be a senior management issue and not just a simple IT issue. ERM helps in making sure all sensitive records of a given business are kept safe, and confidentiality is attained. The process of data recovery can be very expensive, and this explains why ERM has been viewed as a senior issue in business. It helps business entities avoid cases of incurring data recovery costs. In addition, business entities will work hard to attain a competitive advantage scenario, and this will be possible by keeping sensitive records away from competitors (Pollard, 2018). Besides, this can be attained through ERM. Hence, ERM is a senior management issue and not just a simple IT issue. ERM has been found to promote data privacy and security, and this explains why the system cannot be left in the hands of the IT department; rather, it has to be handled by the management of the company.

Describe each of the four V’s of data analytics: variety, volume, velocity, and veracity.

The four V’s of data analytics comprise volume, velocity, variety, and veracity. The volume based value explains more on how comprehensive and historical data gathered about given customer(s) helps one in having a clear insight about the provided data. Velocity-based value is used to explain more quickly how one can process information in data analytics and platforms. Velocity-based value has been found to help make timely decisions. The variety-based value will be used to examine more about the varied data one has from customers. Besides, the variety base value helps business entities in coming with goods and services tailored to meet their taste and preferences. Veracity-based value is the idea that explains that amassing a lot of data does not promise data cleanliness and accuracy. Besides, data about customers should be cleansed to help in having the best conclusive report. This will be attained through the veracity data analytic process.

Identify the primary functions of a database and a data warehouse. Explain why enterprises need both of these data management technologies.

            A database is defined as a collection of interrelated data with a set of programs that will allow users to access and modify the available data (Watt, 2014). The database is the tool that has been found to provide any user with an abstract view of all the available data. Business entities benefit a lot from a well-defined database because it simplifies data sampling, facilitating the decision-making process. It becomes easy to access information like sales transactions through the use of a business database, among others. The data warehouse is an entity that creates a backup of all data functions (Pollard, 2018). Data warehouses play the roles of data cleaning and data extraction. Through data cleaning, it becomes possible for business entities to have well-defined data with a lot of clarity, a process that will facilitate the decision-making process.

References

Pollard, C., Turba, E., and Wood, G., (2018). Information Technology for Management. New York City: John Wiley & Sons,.

Watt, A., 2014. Database Design. [Place of publication not identified]: BCcampus, BC Open Textbook Project.

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This Module Review assignment requires you to answer complex questions that are related to the topics presented in the module readings, which have been designed to develop your critical thinking skills.

Module Review Questions

Use the course textbook AND outside primary sources to obtain data that support your answers. Follow the guidelines in the Requirements section, including using the current APA style and pasting the questions in bold before each answer.

Questions

Companies create business records of many types and store the electronic files using an electronic records management (ERM) system. Explain why an ERM is a senior management issue and not simply an IT issue.
Describe each of the four V’s of data analytics: variety, volume, velocity, and veracity.
Identify the primary functions of a database and a data warehouse. Explain why enterprises need both of these data management technologies.