Advanced analytics Definitions

Search Definitions
  • A

    A/B testing (split testing)

    A/B testing, sometimes called split testing, is an assessment tool for identifying which version of something helps an individual or organization meet a business goal more effectively.

  • advanced analytics

    Advanced analytics is a broad category of inquiry that can be used to help drive changes and improvements in business practices.

  • B

    big data analytics

    Big data analytics is the often complex process of examining large and varied data sets, or big data, to uncover information -- such as hidden patterns, unknown correlations, market trends and customer preferences -- that can help organizations make informed business decisions.

  • business analytics (BA)

    Business analytics (BA) is the iterative, methodical exploration of an organization's data, with an emphasis on statistical analysis. Business analytics is used by companies that are committed to making data-driven decisions.

  • 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 gathering, combining, structuring and organizing data so it can be analyzed as part of data visualization, analytics and machine learning applications.

  • data sampling

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

  • data science as a service (DSaaS)

    Data science as a service (DSaaS) is a form of outsourcing that involves the delivery of information gleaned from advanced analytics applications run by data scientists at an outside company to corporate clients for their business use.

  • 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.

  • L

    location intelligence (LI)

    Location intelligence (LI) is a business analysis tool capability that enables companies to gather geographic- and location-related data to better understand global, regional and local business trends.

  • logistic regression

    Logistic regression is a statistical analysis method used to predict a data value based on prior observations of a data set.

  • M

    MapR

    MapR Technologies is a distributed data platform for AI and analytics provider that enables enterprises to apply data modeling to their business processes with the goal of increasing revenue, reducing costs and mitigating risks.

  • mobile location analytics (MLA)

    Mobile location analytics is a method used by retailers to track the movements of shoppers throughout their stores.

  • N

    natural language processing (NLP)

    Natural language processing (NLP) is the ability of a computer program to understand human language as it is spoken.

  • P

    predictive analytics

    Predictive analytics is a form of advanced analytics that uses both new and historical data to forecast activity, behavior and trends.

  • R

    R programming language

    The R programming language is an open source scripting language for predictive analytics and data visualization.

  • S

    SAS Institute Inc.

    SAS Institute Inc. is a software vendor that specializes in advanced and predictive analytics applications, as well as business intelligence and data visualization tools.

  • social media analytics

    Social media analytics is the practice of gathering data from social media websites and analyzing that data using social media analytics tools to make business decisions.

  • T

    text mining (text analytics)

    Text mining is the process of exploring and analyzing large amounts of unstructured text data aided by software that can identify concepts, patterns, topics, keywords and other attributes in the data.

  • V

    visual analytics

    Visual analytics is a form of inquiry in which data that provides insight into solving a problem is displayed in an interactive, graphical manner.

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