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Analytics

This glossary contains definitions related to customer data analytics, predictive analytics, data visualization and operational business intelligence. Some definitions explain the meaning of words used to Hadoop and other software tools used in big data analytics. Other definitions are related to the strategies that business intelligence professionals, data scientists, statisticians and data analysts use to make data-driven decisions.

INF - RAN

  • infographics - An infographic (information graphic) is a representation of information in a graphic format designed to make the data easily understandable at a glance.
  • information - Information is stimuli that has meaning in some context for its receiver.
  • Information and Content Exchange (ICE) - Information and Content Exchange (ICE) is an XML-based standard protocol for electronic business-to-business (B2B) asset management.
  • information arbitrage - Information arbitrage is an instrument for creating opportunities in the marketplace by identifying trends ahead of others and acting on them.
  • Information Commissioner's Office (ICO) - The Information Commissioner's Office (ICO) is an independent authority in the UK that promotes openness of public information and protection of private information.
  • information life cycle management (ILM) - Information life cycle management (ILM) is a comprehensive approach to managing the flow of an information system's data and associated metadata from creation and initial storage to the time when it becomes obsolete and is deleted.
  • intellectual property (IP) - Intellectual property (IP) is a term for any intangible asset -- something proprietary that doesn't exist as a physical object but has value.
  • intelligence (intel) - According to the FBI, intelligence is both the information itself and the processes used to collect and analyze it.
  • intelligent content - Intelligent content is an adaptation of digital text, image, video, audio or multimedia data with coding added that allows it to be automatically processed.
  • intelligent process automation (IPA) - Intelligent process automation (IPA) is a combination of technologies used to manage and automate digital processes.
  • IoT analytics (Internet of Things analytics) - IoT analytics is the application of data analysis tools and procedures to realize value from the huge volumes of data generated by connected Internet of Things devices.
  • IT consultant - A consultant is an experienced individual in a given field who provides expert advice for a fee.
  • IT incident management - IT incident management is an area of IT service management (ITSM) wherein the IT team returns a service to normal as quickly as possible after a disruption, in a way that aims to create as little negative impact on the business as possible.
  • IT solution - An information technology (IT) solution is a set of related software programs and/or services that are sold as a single package.
  • IT systems management - Systems management is the administration of the information technology systems in an enterprise data center.
  • ITSM (IT Service Management) - IT service management (ITSM) is a general term that describes a strategic approach to design, deliver, manage and improve the way businesses use information technology (IT).
  • JAQL (json query language) - JAQL is a query language for the JavaScript Object Notation (JSON) data interchange format.
  • Java Business Integration (JBI) - Java Business Integration (JBI) is a specification that defines an approach to implementing a service-oriented architecture (SOA), the underlying structure supporting Web service communications on behalf of computing entities such as application programs or human users.
  • key results indicator (KRI) - A key result indicator (KRI) is a metric that measures the quantitative results of business actions to help companies track progress and reach organizational goals.
  • Kibana - Kibana is an open source data visualization and exploration platform from Elastic that is specialized for large volumes of streaming and real-time data.
  • knowledge management (KM) - Knowledge management is the process by which an enterprise gathers, organizes, shares and analyzes its knowledge in a way that is easily accessible to employees.
  • knowledge process outsourcing (KPO) - Knowledge process outsourcing (KPO) is the allocation of relatively high-level tasks to an outside organization or a different group within the same organization.
  • law of averages - The law of averages is an erroneous generalization of the law of large numbers, which states that the frequencies of events with the same likelihood of occurrence even out, given enough trials or instances.
  • law of large numbers - The law of large numbers is a principle of probability according to which the frequencies of events with the same likelihood of occurrence even out, given enough trials or instances.
  • lead generator - A lead generator is any marketing-related activity intended to publicize the availability of a vendor's product or service.
  • learning management system (LMS) - A learning management system (LMS) is a software application or web-based technology used to plan, implement and assess a specific learning process.
  • legal analytics - Legal analytics is the application of data analysis methods and technologies within the field of law to improve efficiency, gain insight and realize greater value from available data.
  • lights-out management (LOM) - Lights-out management (LOM) is the ability for a system administrator to monitor and manage servers by remote control.
  • Likert scale - The Likert scale is a commonly used survey tool that requests a quantification of some variable from a range of responses.
  • LOB (line of business) - An LOB (line-of-business) application is one of the set of critical computer applications that are vital to running an enterprise, such as accounting, supply chain management, and resource planning applications.
  • logistic regression - Logistic regression is a statistical analysis method used to predict a data value based on prior observations of a data set.
  • longitudinal study - A longitudinal study is an observational research method in which data is gathered for the same subjects repeatedly over a period of time.
  • macrotrend - A macro trend is a persistent shift in the direction of some phenomenon on a global level.
  • managed file transfer (MFT) - Managed file transfer (MFT) is a type of software used to provide secure internal, external and ad-hoc data transfers through a network.
  • management information base (MIB) - A management information base (MIB) is a formal description of a set of network objects that can be managed using the Simple Network Management Protocol (SNMP).
  • Manufacturing 2.0 - Manufacturing 2.
  • manufacturing intelligence software - Enterprise manufacturing intelligence software is a suite of software applications that integrates a company's manufacturing data from multiple sources to aid in reporting, analysis, visual summaries and passing data between enterprise-level and plant-floor systems.
  • MapReduce - MapReduce is a core component of the Apache Hadoop software framework.
  • market basket analysis - Market basket analysis is a data mining technique used by retailers to increase sales by better understanding customer purchasing patterns.
  • marketecture (or marchitecture) - A marketecture (or marchitecture) is a high-level representation of software or hardware architecture designed with marketing requirements as a primary consideration.
  • mathematical induction - Mathematical induction is a a specialized form of deductive reasoning used to prove a fact about all the elements in an infinite set by performing a finite number of steps.
  • media access management - In the Open Systems Interconnection (OSI) communication reference model, media access management is performed by the Media Access Control (MAC) sublayer of the Data-Link Layer.
  • metadata management - Metadata management is the oversight of data associated with data assets to ensure that information can be integrated, accessed, shared, linked, analyzed and maintained to best effect across an organization.
  • metainformation - Metainformation is information about information.
  • Microsoft GeoFlow - Microsoft GeoFlow is a three-dimensional data visualization mapping tool for Microsoft Excel.
  • Microsoft Operations Framework (MOF) - Microsoft Operations Framework (MOF) is a series of 23 documents that guide IT professionals through the processes of creating, implementing and managing efficient and cost-effective services.
  • Microsoft Power BI - Microsoft Power BI is a business intelligence platform that provides nontechnical business users with tools for aggregating, analyzing, visualizing and sharing data.
  • Microsoft Power Platform - Microsoft Power Platform is a term used as a collective for three Microsoft applications.
  • Microsoft System Center - Microsoft System Center is a suite of individually sold systems management products.
  • MicroStrategy - MicroStrategy is an enterprise business intelligence (BI) application software vendor.
  • microtrend - A microtrend is a tendency in the direction of some phenomenon that is fairly pervasive within a given sphere of influence and lasts for a few years.
  • MiFID (Markets in Financial Instruments Directive) - MiFID (the Markets in Financial Instruments Directive) is legislation for the regulation of investment services within the European Economic Area.
  • mobile business intelligence - Mobile business intelligence is an extension of business intelligence (BI) from desktops and laptops to mobile devices such as Blackberry, iPhone, and iPad.
  • mobile expense management - Mobile expense management is the processes, assisted by specialized software, that an organization uses to manage the costs of its mobile communications network.
  • ModelOps (model operations) - ModelOps (model operations) is a holistic approach to building analytics models that can quickly progress from the lab to production.
  • named entity - A named entity is a term or phrase that identifies an object from a set of other objects with similar attributes.
  • narrow AI (weak AI) - Narrow AI is an application of artificial intelligence technologies to enable a high-functioning system that replicates -- and perhaps surpasses -- human intelligence for a dedicated purpose.
  • NASSCOM (National Association of Software and Services Companies) - The National Association of Software and Services Companies (NASSCOM) is a not-for-profit Indian consortium created to promote the development of the country's IT (information technology) and business process outsourcing (BPO) industries.
  • natural language understanding (NLU) - Natural language understanding (NLU) is a branch of artificial intelligence (AI) that uses computer software to understand input in the form of sentences using text or speech.
  • negative correlation - A negative correlation is a relationship between two variables such that as the value of one variable increases, the other decreases.
  • negativity bias - Negativity bias is the tendency of humans to place more significance on negative events than neutral or positive ones.
  • noisy data - Noisy data is meaningless data.
  • noisy text - Noisy text is an electronically-stored communication that cannot be categorized properly by a text mining software program.
  • normal distribution - A normal distribution is an arrangement of a data set in which most values cluster in the middle of the range and the rest taper off symmetrically toward either end.
  • OLAP dashboard - The “OLAP” designation indicates that one or more of the graphs or reports (sometimes referred to as “panes,” in the dashboard) are based on an OLAP (Online Analytical Processing) data source.
  • onboard intelligence - Onboard intelligence is the use of artificial intelligence (AI) that is housed locally in the device it operates.
  • ONC (Office of the National Coordinator for Health Information Technology) - The Office of the National Coordinator for Health Information Technology, abbreviated ONC, is an entity within the U.
  • open source business intelligence (OSBI) - Open source business intelligence (BI) is, technically, free BI.
  • operational excellence - Operational excellence is a methodology of striving for efficacy throughout an organization’s processes.
  • operational intelligence (OI) - Operational intelligence (OI) is an approach to data analysis that enables decisions and actions in business operations to be based on real-time data as it's generated or collected by companies.
  • operational performance management (OPM) - Operational performance management (OPM) is the alignment of all business units within an organization to ensure that they are working together to achieve core business goals.
  • Oracle Big Data Appliance - Oracle Big Data Appliance is a converged hardware and software platform for big data that can be used to capture and analyze data from a wide variety of sources.
  • order management - Order management is the administration of business processes related to orders for goods or services.
  • organizational network analysis (ONA) - Organizational network analysis (ONA) is a quantitative method for modeling and analyzing how communications, information, decisions and resources flow through an organization.
  • over sampling and under sampling - Over sampling and under sampling are techniques used in data mining and data analytics to modify unequal data classes to create balanced data sets.
  • PaaS (platform as a service) - PaaS (platform as a service) is a cloud computing model where a third-party provider delivers hardware and software tools to users over the internet.
  • pandemic plan - A pandemic plan is a documented strategy for business continuity in the event of a widespread outbreak of a dangerous infectious disease.
  • partner relationship management (PRM) - Partner relationship management (PRM) is a combination of the software, processes and strategies companies use to streamline business processes with partners who sell their products.
  • patch management - Patch management is an area of systems management that involves acquiring, testing and installing multiple patches, or code changes, to an administered computer system.
  • performance and accountability reporting (PAR) - Performance and accountability reporting (PAR) is the process of compiling and documenting factors that quantify an institution's profitability, efficiency and adherence to budget, comparing actual results against original targets.
  • performance scorecard - A performance scorecard is a graphic or an application that depicts the progress over time of some entity, such as an enterprise, an employee or a business unit, toward some type of goal.
  • perishable data - Perishable data is the specific bits of data within large volumes gathered that must be quickly acted upon to realize any benefit to a business.
  • Plutchik's wheel of emotions - Plutchik's wheel of emotions is a model of human emotions that uses overlaying colors to portray combinations of affect.
  • policy-based management - Policy-based management is an administrative approach that is used to simplify the management of a given endeavor by establishing policies to deal with situations that are likely to occur.
  • polynomial interpolation - Polynomial interpolation is a method of estimating values between known data points.
  • population - In statistics and other areas of mathematics, a population is a complete collection of entities or items that has at least one characteristic in common.
  • positive correlation - A positive correlation is a relationship between two variables such that their values increase or decrease together.
  • precision agriculture - Precision agriculture is an approach to farm management that uses information technology (IT) to ensure that plants, animals and the soil receive exactly what they need for optimum health and productivity.
  • prediction error - A prediction error is the failure of some expected event to occur.
  • predictive coding - Predictive coding software can be used to automate portions of an e-discovery document review.
  • Presto - Presto is a free and open source distributed SQL query engine designed for the demands of big data.
  • processing in memory (PIM) - Processing in memory (PIM, sometimes called processor in memory) is the integration of a processor with RAM (usually DRAM or SRAM) on a single chip.
  • product analytics - Product analytics is the process of gathering and transforming user-level data into insights that reveal how customers interact with specific products.
  • profitability analysis - Profitability analysis is a component of enterprise resource planning (ERP) that allows administrators to forecast the profitability of a proposal or optimize the profitability of an existing project.
  • project management - Project management is the discipline of using established principles, procedures and policies to successfully guide a project from conception through completion.
  • proprietary solution - A proprietary solution is a hardware or software product or combination of products and services that is tied to a specific vendor, to the exclusion of all other vendors.
  • pseudoscience - Pseudoscience is a proposition, a finding or a system of explanation that is presented as science but that lacks the essential rigor of the scientific method.
  • Qlik - Qlik is a software vendor specializing in data visualization, executive dashboards and self-service business intelligence products.
  • Qualified Security Assessor (QSA) - A Qualified Security Assessor (QSA) is a person who has been certified by the PCI Security Standards Council to audit merchants for Payment Card Industry Data Security Standard (PCI DSS) compliance.
  • qualitative data - Qualitative data is information that cannot be counted, measured or easily expressed using numbers.
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