What is the Federal Open Market Committee (FOMC)? The Federal Open Market Committee (FOMC) is responsible for the monetary policy of the United States by overseeing the open market operations of the country. The FOMC is a part of the Federal Reserve System. Headed by the chair, Jerome H. Powell, the committee comprises twelve total…
What is a Data Mart? A data mart is an access layer of a data warehouse focused on a specific line of business, function, or department. It is used for retrieving client-facing data. A data mart contains a subset of the data that is stored in a data warehouse. Data warehouses are enterprise-wide data storage…
What is Data Analysis? Data analysis is the process of examining, cleansing, transforming, and modeling data with the objective of extracting useful information for decision-making. It is often used in different domains, such as business, science, and the humanities. Types of Data Analysis While many types of data analysis can be used, the following are…
What is a Data Warehouse? A data warehouse (often abbreviated as DW or DWH) is a central data repository used for reporting and data analysis. It can connect to and integrate multiple data sources to provide a common area to generate business insights. History of Data Warehouses The concept of data warehouses first came into…
What is Data Governance? Data governance is the process of managing the availability, usability, integrity, and security of the data in enterprise systems. It is “governed” through internal data standards and policies that control data usage, and effective governance ensures that data is trustworthy, consistent, and does not get misused. Role of Data Governance The…
What is a Database? A database refers to a collection of logically related information organized so that it can be easily accessible, managed, and updated. Databases are generally accessed electronically from a computer system and are usually controlled by a database management system (DBMS). The database administrator (DBA) is the individual responsible for managing the…
What is a Data Engineer? A data engineer is an individual responsible for managing, optimizing, overseeing, and monitoring data retrieval, storage, and distribution. Roles of Data Engineers The roles of data engineers will usually vary depending on the type of company that they work for and the specific industry. However, they can broadly be categorized…
What is Data Security? Data security is a practice that involves the protection of digital information from unauthorized access, corruption, destruction, modification, theft, or disclosure. The data security process encompasses techniques and technologies such as security of physical hardware (e.g., storage devices), logical security of software applications, administrative and access controls, organizational policy standards, and…
What are Federal Agencies? Federal agencies are government departments, corporations, or establishments that are a branch of the federal government. They are formed to tackle a specific purpose, task, or issue – for example, regulation of industries, markets, and education. Federal agencies in the U.S. are created by legislation or presidential order for the purpose…
What is Insurance Coverage? Insurance coverage is the amount of risk, liability, or potential loss that is protected by insurance. It helps individuals recover from financial losses as a result of incidents, such as car accidents, damaged property, or unexpected health issues. In order to be covered for their losses, individuals pay an insurance premium….
