Business Analytics/Business Intelligence Definitions
This glossary explains the meaning of key words and phrases that information technology (IT) and business professionals use when discussing business analytics and related software products. You can find additional definitions by visiting WhatIs.com or using the search box below.
-
D
decision-making process
The decision-making process, in a business context, is a set of steps taken by managers in an enterprise to determine the planned path for business initiatives and to set specific actions in motion.
-
deep analytics
Deep analytics is the application of sophisticated data processing techniques to yield information from large and typically multi-source data sets comprised of both unstructured and semi-structured data.
-
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.
-
embedded BI (embedded business intelligence)
Embedded BI (business intelligence) is the integration of self-service BI tools into commonly used business applications.
-
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.
-
enterprise mashup (or data mashup)
An enterprise mashup is the integration of heterogeneous digital data and applications from multiple sources for business purposes. An enterprise mashup is also sometimes known as a business mashup or, less precisely, as a data mashup.
-
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.
-
Google Analytics
Google Analytics is a free Web analytics service that provides statistics and basic analytical tools for search engine optimization (SEO) and marketing purposes. The service is available to anyone with a Google account.
-
Google Analytics dashboard
The Google Analytics dashboard is a user interface to the company’s Web analytics product. Google Analytics is a free service that provides statistics and basic analytical tools for marketing and search engine optimization (SEO) purposes.
-
H
Hadoop cluster
A Hadoop cluster is a special type of computational cluster designed specifically for storing and analyzing huge amounts of unstructured data in a distributed computing environment.
-
heat map (heatmap)
A heat map is a two-dimensional representation of data in which values are represented by colors. Heat maps allow users to understand and analyze complex data sets.
-
I
in-database analytics
In-database analytics is a scheme for processing data within the database, avoiding the data movement that slows response time.
-
in-memory analytics
In-memory analytics queries data residing in a computer’s random access memory (RAM) rather than data stored on physical disks. This results in vastly shortened query response times.
-
K
key performance indicators (KPIs)
Key performance indicators (KPIs) are business metrics used by corporate executives and other managers to track and analyze factors deemed crucial to the success of an organization.