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t. e. In common usage, data ( / ˈdeɪtə /, also US: / ˈdætə /; ) is a collection of discrete or continuous values that convey information, describing the quantity, quality, fact, statistics, other basic units of meaning, or simply sequences of symbols that may be further interpreted formally. A datum is an individual value in a collection ...
Business analytics. Business analytics ( BA) refers to the skills, technologies, and practices for iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods.
Big data vs. business intelligence. The growing maturity of the concept more starkly delineates the difference between "big data" and "business intelligence": Business intelligence uses applied mathematics tools and descriptive statistics with data with high information density to measure things, detect trends, etc.
Master data represents "data about the business entities that provide context for business transactions". The most commonly found categories of master data are parties (individuals and organisations, and their roles, such as customers, suppliers, employees), products, financial structures (such as ledgers and cost centres) and locational concepts.
Data analysis is the process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making. [1] Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, and is used in different business, science ...
Under this definition, business intelligence encompasses information management (data integration, data quality, data warehousing, master-data management, text- and content-analytics, et al.). Therefore, Forrester refers to data preparation and data usage as two separate but closely linked segments of the business-intelligence architectural stack.
Data Warehouse and Data mart overview, with Data Marts shown in the top right. In computing, a data warehouse ( DW or DWH ), also known as an enterprise data warehouse ( EDW ), is a system used for reporting and data analysis and is considered a core component of business intelligence. [1] Data warehouses are central repositories of integrated ...
Data science is "a concept to unify statistics, data analysis, informatics, and their related methods " to "understand and analyze actual phenomena " with data. [5] It uses techniques and theories drawn from many fields within the context of mathematics, statistics, computer science, information science, and domain knowledge. [6]