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Analytics
Analytics is the systematic computational analysis of data or statistics. It is used for the discovery, interpretation, and communication of meaningful patterns in data. It also entails applying data patterns toward effective decision-making. It can be valuable in areas rich with recorded information; analytics relies on the simultaneous application of statistics, computer programming, and operations research to quantify performance. Organizations may apply analytics to business data to describe, predict, and improve business performance. Specifically, areas within analytics include descriptive analytics, diagnostic analytics, predictive analytics, prescriptive analytics, and cognitive analytics. Analytics may apply to a variety of fields such as marketing, management, finance, online systems, information security, and software services. Since analytics can require extensive computation (see big data), the algorithms and software used for analytics harness the most current methods ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Google Analytics
Google Analytics is a web analytics service offered by Google that tracks and reports website traffic, currently as a platform inside the Google Marketing Platform brand. Google launched the service in November 2005 after acquiring Urchin. As of 2019, Google Analytics is the most widely used web analytics service on the web. Site frequently updated. Google Analytics provides an SDK that allows gathering usage data from iOS and Android app, known as ''Google Analytics for Mobile Apps''. Google Analytics can be blocked by browsers, browser extensions, firewalls and other means. Google Analytics has undergone many updates since its inception and is currently on its 4th iteration — GA4. GA4 is the default Google Analytics installation, and is the renamed version for the (App + Web) Property that Google released in 2019 in a Beta form. GA4 has also replaced Universal Analytics (UA). One notable feature of GA4 is a natural integration with Google's BigQuery — a feature previou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prescriptive Analytics
Prescriptive analytics is a form of business analytics which suggests decision options for how to take advantage of a future opportunity or mitigate a future risk, and shows the implication of each decision option. It enables an enterprise to consider "the best course of action to take" in the light of information derived from descriptive and predictive analytics.Basu, Atanu''Five pillars of prescriptive analytics success'' ''Analytics'', March / April 2013, accessed 3 December 2022 Overview Prescriptive analytics is the third and final phase of business analytics, which also includes descriptive and predictive analytics.http://www.analytics-magazine.org/november-december-2010/54-the-analytics-journey Referred to as the "final frontier of analytic capabilities", prescriptive analytics entails the application of mathematical and computational sciences and suggests decision options for how to take advantage of the results of descriptive and predictive phases. The first stage of bus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Web Analytics
Web analytics is the measurement, data collection, collection, analysis, and reporting of web Data (computing), data to understand and optimize web usage. Web analytics is not just a process for measuring web traffic but can be used as a tool for business and market research and assess and improve website effectiveness. Web analytics applications can also help companies measure the results of traditional print or broadcast advertising campaigns. It can be used to estimate how traffic to a website changes after launching a new advertising campaign. Web analytics provides information about the number of visitors to a website and the number of page views, or create user behavior profiles. It helps gauge traffic and popularity trends, which is useful for market research. Basic steps of the web analytics process Most web analytics processes come down to four essential stages or steps, which are: * Collection of data: This stage is the collection of the basic, elementary data. Usuall ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Web Analytics
Web analytics is the measurement, data collection, collection, analysis, and reporting of web Data (computing), data to understand and optimize web usage. Web analytics is not just a process for measuring web traffic but can be used as a tool for business and market research and assess and improve website effectiveness. Web analytics applications can also help companies measure the results of traditional print or broadcast advertising campaigns. It can be used to estimate how traffic to a website changes after launching a new advertising campaign. Web analytics provides information about the number of visitors to a website and the number of page views, or create user behavior profiles. It helps gauge traffic and popularity trends, which is useful for market research. Basic steps of the web analytics process Most web analytics processes come down to four essential stages or steps, which are: * Collection of data: This stage is the collection of the basic, elementary data. Usuall ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Predictive Analytics
Predictive analytics encompasses a variety of statistical techniques from data mining, predictive modeling, and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events. In business, predictive models exploit patterns found in historical and transactional data to identify risks and opportunities. Models capture relationships among many factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision-making for candidate transactions. The defining functional effect of these technical approaches is that predictive analytics provides a predictive score (probability) for each individual (customer, employee, healthcare patient, product SKU, vehicle, component, machine, or other organizational unit) in order to determine, inform, or influence organizational processes that pertain across large numbers of individuals, such as in marketing, credit risk assessment, fraud detecti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Big Data
Though used sometimes loosely partly because of a lack of formal definition, the interpretation that seems to best describe Big data is the one associated with large body of information that we could not comprehend when used only in smaller amounts. In it primary definition though, Big data refers to data sets that are too large or complex to be dealt with by traditional data-processing application software. Data with many fields (rows) offer greater statistical power, while data with higher complexity (more attributes or columns) may lead to a higher false discovery rate. Big data analysis challenges include capturing data, data storage, data analysis, search, sharing, transfer, visualization, querying, updating, information privacy, and data source. Big data was originally associated with three key concepts: ''volume'', ''variety'', and ''velocity''. The analysis of big data presents challenges in sampling, and thus previously allowing for only observations and sampling. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Data Analysis
Data analysis is a process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, and is used in different business, science, and social science domains. In today's business world, data analysis plays a role in making decisions more scientific and helping businesses operate more effectively. Data mining is a particular data analysis technique that focuses on statistical modeling and knowledge discovery for predictive rather than purely descriptive purposes, while business intelligence covers data analysis that relies heavily on aggregation, focusing mainly on business information. In statistical applications, data analysis can be divided into descriptive statistics, exploratory data analysis (EDA), and confirmatory data analysis (CDA). EDA focuses on discovering ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sessionization
In web analytics, a session, or visit is a unit of measurement of a user's actions taken within a period of time or with regard to completion of a task. Sessions are also used in operational analytics and provision of user-specific recommendations. There are two primary methods used to define a session: time-oriented approaches based on continuity in user activity and navigation-based approaches based on continuity in a chain of requested pages. Definition The definition of "session" varies, particularly when applied to search engines. Generally, a session is understood to consist of "a sequence of requests made by a single end-user during a visit to a particular site". In the context of search engines, "sessions" and "query sessions" have at least two definitions. A session or query session may be all queries made by a user in a particular time period or it may also be a series of queries or navigations with a consistent underlying user need. Uses Sessions per user can be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Predictive Modeling
Predictive modelling uses statistics to predict outcomes. Most often the event one wants to predict is in the future, but predictive modelling can be applied to any type of unknown event, regardless of when it occurred. For example, predictive models are often used to detect crimes and identify suspects, after the crime has taken place. In many cases the model is chosen on the basis of detection theory to try to guess the probability of an outcome given a set amount of input data, for example given an email determining how likely that it is spam. Models can use one or more classifiers in trying to determine the probability of a set of data belonging to another set. For example, a model might be used to determine whether an email is spam or "ham" (non-spam). Depending on definitional boundaries, predictive modelling is synonymous with, or largely overlapping with, the field of machine learning, as it is more commonly referred to in academic or research and development contexts. W ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Machine Learning
Machine learning (ML) is a field of inquiry devoted to understanding and building methods that 'learn', that is, methods that leverage data to improve performance on some set of tasks. It is seen as a part of artificial intelligence. Machine learning algorithms build a model based on sample data, known as training data, in order to make predictions or decisions without being explicitly programmed to do so. Machine learning algorithms are used in a wide variety of applications, such as in medicine, email filtering, speech recognition, agriculture, and computer vision, where it is difficult or unfeasible to develop conventional algorithms to perform the needed tasks.Hu, J.; Niu, H.; Carrasco, J.; Lennox, B.; Arvin, F.,Voronoi-Based Multi-Robot Autonomous Exploration in Unknown Environments via Deep Reinforcement Learning IEEE Transactions on Vehicular Technology, 2020. A subset of machine learning is closely related to computational statistics, which focuses on making predicti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Operations Research
Operations research ( en-GB, operational research) (U.S. Air Force Specialty Code: Operations Analysis), often shortened to the initialism OR, is a discipline that deals with the development and application of analytical methods to improve decision-making. It is considered to be a subfield of mathematical sciences. The term management science is occasionally used as a synonym. Employing techniques from other mathematical sciences, such as modeling, statistics, and optimization, operations research arrives at optimal or near-optimal solutions to decision-making problems. Because of its emphasis on practical applications, operations research has overlap with many other disciplines, notably industrial engineering. Operations research is often concerned with determining the extreme values of some real-world objective: the maximum (of profit, performance, or yield) or minimum (of loss, risk, or cost). Originating in military efforts before World War II, its techniques have grown to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Mix Modeling
Marketing mix modeling (MMM) is statistical analysis such as multivariate regressions on sales and marketing time series data to estimate the impact of various marketing tactics (marketing mix) on sales and then forecast the impact of future sets of tactics. It is often used to optimize advertising mix and promotional tactics with respect to sales revenue or profit. The techniques were developed by econometricians and were first applied to consumer packaged goods, since manufacturers of those goods had access to accurate data on sales and marketing support. Improved availability of data, massively greater computing power, and the pressure to measure and optimize marketing spend has driven the explosion in popularity as a marketing tool. In recent times MMM has found acceptance as a trustworthy marketing tool among the major consumer marketing companies. History The term marketing mix was developed by Neil Borden who first started using the phrase in 1949. “An executive is a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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