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According to Forrester Research, business intelligence is "a set of methodologies, processes, architectures, and technologies that transform raw data into meaningful and useful information used to enable more effective strategic, tactical, and operational insights and decision-making." [11] Under this definition, business intelligence ...
Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods. In contrast, business intelligence traditionally focuses on using a consistent set of metrics to both measure past performance and guide business planning.
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 ...
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 from one or more disparate sources. They store current and historical data in ...
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]
A data processing system is a combination of machines, people, and processes that for a set of inputs produces a defined set of outputs. The inputs and outputs are interpreted as data, facts, information etc. depending on the interpreter's relation to the system. A term commonly used synonymously with data or storage (codes) processing system ...
The term big data has been in use since the 1990s, with some giving credit to John Mashey for popularizing the term. [23] [24] Big data usually includes data sets with sizes beyond the ability of commonly used software tools to capture, curate, manage, and process data within a tolerable elapsed time.
Customer analytics. Customer analytics is a process by which data from customer behavior is used to help make key business decisions via market segmentation and predictive analytics. This information is used by businesses for direct marketing, site selection, and customer relationship management. Marketing provides services to satisfy customers.
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