Text mining or textual data mining, is a bundle of algorithm-based analysis methods for the discovery of meaning structures from unstructured or weakly structured text data. Using statistical means, text mining software opens up structures from texts that are intended to enable users to quickly recognize core information of the processed texts. Ideally, text mining systems provide information that … [Read more...]
What is SWOT Analysis?
SWOT analysis is a strategic planning and strategic management technique used to help a person or organization identify strengths, weaknesses, opportunities, and threats related to business competition or project planning. It is sometimes called situational assessment or situational analysis. Additional acronyms using the same components include TOWS and WOTS-UP. This technique is designed for … [Read more...]
5 Ways To Use Machine Learning In Digital Marketing
Internet-enabled devices have been a part of our lives. One can’t even leave the house without their cellphones in their bags or on their hands. As you’d expect, tech giants have found a way to take advantage of this by continuously analyzing people’s behavior and making decisions based on how they use the internet through their devices. Business owners, big and small, have benefited from machine … [Read more...]
What is Business Informatics (BI)
Business informatics deals with digitization in business, administration and society. Business informatics is a science that deals with the development and application of information and communication systems in business enterprises. From the point of view of computer science, business informatics is applied computer science. Due to its interdisciplinary nature, it has its roots in economics, … [Read more...]
What is Transaction Processing Monitor (TPM)?
A transaction processing monitor (TP monitor) is one of the oldest and best-known forms of middleware whose main task is to support and handle interactions between applications on different, even heterogeneous computer platforms. A transaction monitor provides functionality for developing, leveraging, managing, and maintaining transactional distributed information systems; its most important task … [Read more...]
MLOps Lifecycle and Evaluation of Model Performance
Data science, machine learning (ML) and artificial intelligence have triggered a real hype in recent years and received a lot of attention in the industry. Machine learning methods are used to increase either the productivity of the users or the interactivity of the application. Numerous data science teams spend their time training machine learning models. However, we observe two types of … [Read more...]
What is Database Normalization?
Normalization of a relational data schema (table structure) is the division of attributes (table columns) into several relations (tables) according to the normalization rules (see below) so that a form is created that no longer contains redundancies. A conceptual schema that contains data redundancies can result in changes to the database; it realizes not to change the multiple data contained … [Read more...]
What is a Snowflake Schema?
The snowflake scheme is a continuation of the star scheme used in OLAP and data warehousing. With the star schema, the dimension tables are denormalized, which results in better processing speed at the expense of data integrity and storage space. In contrast, the snowflake scheme refines the individual dimension tables by classifying or normalizing them. This branching of the data model creates … [Read more...]
What is Star Schema?
A star schema is a special form of a data model whose goal is not normalization, but optimization for efficient read operations. The main field of application is a data warehouse and OLAP applications. The term star schema comes from the fact that the tables are arranged in a star shape: at the centre is a fact table around which several dimension tables are grouped. A star scheme is usually … [Read more...]
What is Object-Relational Mapping?
Object-relational mapping (ORM) is a software development technique that allows an application program written in an object-oriented programming language to store its objects in a relational database. The database then appears to the program as an object-oriented database, which facilitates programming. This technique is usually implemented with class libraries, such as Entity Framework for .NET … [Read more...]
The Critical Role of Big Data in Current Decision-Making Processes
In the digital world, where automation and advanced technologies are the new norms, a lot of data is generated. Internet of Things (IoT) devices and smart machines generate industry-specific and real-time data sets that were untapped a decade ago. Forward-looking organizations and businesses are now leveraging these data sets to derive insights and a new form of knowledge that can aid … [Read more...]
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