Data Acquisition and Management assignment on data analysis and reporting techniques
Question
Task: What is the role of Data Acquisition and Management assignment analysis strategies towards data organization and reporting of trends?
Answer
Introduction
Data Acquisition and Management assignments play an immense role towards problem solving thus making data acquisition, management and analysis an important component of business operations today. Data, if represented using graph can be easy to store and interpret. Hence, researchers have provided different types of graphs such as directed, undirected, labeled, weighted, multigraphs and hypergraphs. Along with the different kinds of graphs for representation, constraints are new features that help in graph modeling. A graph database is considered as a storage system where few properties like ACID and availability are adapted from traditional databases. This Data Acquisition and Management assignment addresses the other differences between graph and traditional SQL databases in terms of format of data handled by the respective databases. Furthermore, it discusses the industry applications of graph databases. Finally, it concentrates on a limitation of graph database that is in relation to patterns and relationships.
Graph Database and Traditional SQL Database
A Data Acquisition and Management assignment graph database uses special attributes such as nodes, edges, relationships to store data. The vital component of the database is a graph. On the other hand, traditional databases store data in tables where each row is known as a recordon which transactions are handled.The major difference lies in the manner of storing relationships defined between entities involved in the system.
Graph database stores relationships at individual record level. However, traditional database makes use of tabular forms. The transactions performed on traditional databases are relatively faster when large number of records is to be processed. The reason behind is simple: the data is known before the operations. Hence, less amount of memory is required. On the contrary, graph databases do not contain any previously decided structure like tables, which results in slower parsing of each record as every record is examined differently so that the structure is determined when a query is executed (Memgraph.com, 2022).
The major elements of Data Acquisition and Management assignment graph databases are as listed below:
1. Nodes: a node is same as a row in relational database. It constitutes the main part of the graph.
2. Relationships: a relationship defines the connection between nodes. It is same as foreign key in traditional databases.
3. Labels: a label marks a group of similar nodes under one name.
4. Properties: these are key pairs stored in entities and the connections.
Industry Applications of Graph Databases
There are several applications of graph databases, two of which are discussed in this section(6point6, 2022).
Network Mapping
The case where industries need to map their infrastructure and manage inventories, a graph can be very beneficial. For an instance, if a network design where connection between hardware devices and their software components need to be mapped, a graph is used. Henceforth, a database aka configuration management database, CMDB can be used by an enterprise so that the devices, versions, service logs, etc. can be stored. The interdependencies are important to store as the essence of graph database lies in mapping correct relations between entities.
Fraud Detection
In banking transactions, fraudulent activities are arising each day. The business events and customer data if represented as graph can help in fraud detection easily. The data related to accounts, loans, credit cards and their transactions can be modeled using a graph so that activities of a customer can be traced by comparing a similar kind of fraud happened in the past. Also, by patterns marked in the past, new fraud can be prevented if it matches the same activities as the pervious fraud.
This has been observed to be especially important on this Data Acquisition and Management assignment with relation to entities from a large database are extracted and connections between them are mapped in a graph. This method is called as Entity Link Analysis that helps in spotting doubtful links between the kinds of nodes that may address the fraud.
A Challenge using Graph Databases
A graph database can fail if the system is huge and there are several relationships. This Data Acquisition and Management assignment concentrates on scalability issues related to graphs that can fail while exploring new patterns and relationships in the graph (IONOS Digitalguide).
References
Graph Database vs Relational Database. Memgraph.com. (2022). Retrieved 7 June 2022, from https://memgraph.com/blog/graph-database-vs-relational-database. Data Acquisition and Management assignment
Graph databases explained. IONOS Digitalguide. Retrieved 7 June 2022, from https://www.ionos.com/digitalguide/hosting/technical-matters/graph-database/.
Use cases for graph databases - 6point6. 6point6. (2022). Retrieved 7 June 2022, from https://6point6.co.uk/insights/use-cases-for-graph-databases/. Data Acquisition and Management assignment
