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A data processing system is a combination of machines, people, and processes that for a set of inputs produces a defined set of outputs. The inputs and outputs are interpreted as data , facts , information etc. depending on the interpreter's relation to the system.
In the first commercial electronic data processing Hollerith machines were used to compile the data accumulated in the 1890 U.S. Census of population. [4] Hollerith's Tabulating Machine Company merged with two other firms to form the Computing-Tabulating-Recording Company, later renamed IBM. The punch-card and tabulation machine business ...
Event processing is a method of tracking and analyzing (processing) streams of information (data) about things that happen (events), [1] and deriving a conclusion from them. Complex event processing ( CEP ) consists of a set of concepts and techniques developed in the early 1990s for processing real-time events and extracting information from ...
When combined, external and internal data can provide a complete picture which, in effect, creates an "intelligence" that cannot be derived from any singular set of data. [3] Among their many uses, business intelligence tools empower organizations to gain insight into new markets, to assess demand and suitability of products and services for ...
Data analysis focuses on the process of examining past data through business understanding, data understanding, data preparation, modeling and evaluation, and deployment. [8] It is a subset of data analytics, which takes multiple data analysis processes to focus on why an event happened and what may happen in the future based on the previous data.
However, data has staged a comeback with the popularisation of the term big data, which refers to the collection and analyses of massive sets of data. While big data is a recent phenomenon, the requirement for data to aid decision-making traces back to the early 1970s with the emergence of decision support systems (DSS).
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Data as a service as a business model is a concept when two or more organizations buy, sell, or trade machine-readable data in exchange for something of value. Data as a service is a general term that encompasses data-related services.