CPCU 500 Ch.6

The analysis of large amounts of data to fin new realtionships and patters that will assist in developing business solutions

AI in whihc computers continually teach themselves to make better decisions based on previous results and new data

Compute processing or output that simulates human reasoning or knowledge

An interdisciplineray field involving the design and use of techniques to process very large amount of data from a variety of sources and to provide knpwledge based on data

Orgnziaiton began using the Internet to conduct business and compile data about their customers

Allow orgnziations to obtain and aggergate vast amounts of data very quickly and extract useful knowledge from it

Volume, variety, velocity, veracity, value

Dat organized into databases with defined fields includign links between dtabases

Data that is not orgnzied into predtermined formats such as databases and often consists of text images or other nontraditional media -isn't organized (ex. social media)

Data that is owned by an organization

Data that belongs to an entity other than the orgnziaton that wishes to acquire and use it

A device that is obtained from a device that is installed on a customers vehicle (is likely external)

Economic data and geodemographic data

Data regarding interest rates, asset prices, exchange rates, the CPI, and other info about the global, the national, or a regional economy

Dat regarding classifications of a population