Advanced analytics Definitions

  • A

    A/B testing (split testing)

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

  • 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

  • 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.

  • 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.

  • business analytics (BA)

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

  • 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.  

  • collaborative BI (collaborative business intelligence)

    Collaborative BI (collaborative business intelligence) is the merging of business intelligence software with collaboration tools, including social and Web 2.0 technologies, to support improved data-driven decision making.

  • D

    data preparation

    Data preparation is the process of aggregating and structuring data so that it can be used in business intelligence and analytics applications.

  • data sampling

    Data sampling is a statistical analysis technique used to select, manipulate and analyze a representative subset of data points in order to identify patterns and trends in the data set being examined as a whole.

  • data science as a service (DSaaS)

    Data science as a service (DSaaS) is the delivery of analytical reports and data products with embedded analytics produced by a service provider's team of data scientists to a client enterprise.

  • E

    edge analytics

    Edge analytics applies algorithms to data at the point of collection in order to trigger actions and determine what should be sent back to a central data repository and what should be discarded.

  • ensemble modeling

    Ensemble modeling is the process of running two or more related but different analytical models and then synthesizing the results into a single score or spread in order to improve the accuracy of predictive analytics and data mining applications.

  • F

    funnel analysis

    Funnel analysis is a way to measure and improve the performance of customer interactions in a step-wise progression from the initial customer contact to a predetermined conversion metric.

  • G

    Google Advertising ID

    Google Advertising ID is a piece of universally unique identifier code that allows mobile applications running on Android devices to identify users and gather data for the purposes of building profiles.

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