Business Analytics/Business Intelligence Definitions

  • A

    A/B testing (split testing)

    A/B testing is a statistical method used to assess proposed changes to a product or service.

  • ad hoc analysis

    Ad hoc analysis is the term commonly used in businesses to describe a product (analytical report, statistical analysis or model, or other report or summary of data) produced one time to answer a single, specific business question. 

  • advanced analytics

    While the traditional analytical tools that comprise basic business intelligence (BI) examine historical data, tools for advanced analytics focus on forecasting future events and behaviors

  • analytic database

    An analytic database is specifically designed to support business intelligence (BI) and analytic applications, typically as part of a data warehouse or data mart.

  • Apache Spark

    Apache Spark is an open source parallel processing framework for running large-scale data analytics applications across clustered computers. It can handle both batch and real-time analytics and data processing workloads.

  • association rules (in data mining)

    Association rules are if/then statements that help uncover relationships between seemingly unrelated data in a transactional database, relational database or other information repository.  

  • B

    backpropagation algorithm

    Backpropagation (backward propagation) is an important mathematical tool for improving the accuracy of predictions in data mining and machine learning. Essentially, backpropagation is an algorithm used to calculate derivatives quickly.

  • big data analytics

    Big data analytics is the process of examining large and varied data sets -- i.e., big data -- to uncover hidden patterns, unknown correlations, market trends, customer preferences and other useful information that can help organizations make more-informed business decisions.

  • BIRT (Business Intelligence and Reporting Tools)

    BIRT (Business Intelligence and Reporting Tools) is an open source technology platform sponsored by the Eclipse Foundation that consists of a visual report designer and a runtime component for Java and Java EE environments.

  • business analytics (BA)

    Business analytics (BA) is the practice of iterative, methodical exploration of an organization's data, with an emphasis on statistical analysis.

  • business intelligence (BI)

    Business intelligence (BI) is a technology-driven process for analyzing data and presenting actionable information to help executives, managers and other corporate end users make informed business decisions.

  • business intelligence architecture

    A business intelligence architecture is a framework for organizing the data, information management and technology components that are used to build business intelligence (BI) systems for reporting and data analytics.

  • business intelligence competency center (BICC)

    A business intelligence competency center (BICC) is a team of people that, in its most fully realized form, is responsible for managing all aspects of an organization's BI strategy, projects and systems.

  • business intelligence dashboard

    A business intelligence dashboard is a graphical interface that displays the current status of metrics and key performance indicators (KPIs) for an enterprise.

  • C

    Campbell's Law

    Campbell's Law is the observation that once a metric has been identified as a primary indicator for success, its ability to accurately measure success tends to be compromised.  

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