Text miningText mining, text data mining (TDM) or text analytics is the process of deriving high-quality information from text. It involves "the discovery by computer of new, previously unknown information, by automatically extracting information from different written resources." Written resources may include websites, books, emails, reviews, and articles. High-quality information is typically obtained by devising patterns and trends by means such as statistical pattern learning. According to Hotho et al.
Business performance managementBusiness performance management (BPM), also known as corporate performance management (CPM) enterprise performance management (EPM), organizational performance management, or simply performance management are a set of management and analytic processes that ensure activities and outputs meet an organization's goals in an effective and efficient manner. Business performance management is contained within approaches to business process management.
Prescriptive analyticsPrescriptive 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. Prescriptive analytics is the third and final phase of business analytics, which also includes descriptive and predictive analytics.
Operational intelligenceOperational intelligence (OI) is a category of real-time dynamic, business analytics that delivers visibility and insight into data, streaming events and business operations. OI solutions run queries against streaming data feeds and event data to deliver analytic results as operational instructions. OI provides organizations the ability to make decisions and immediately act on these analytic insights, through manual or automated actions.
Performance indicatorA performance indicator or key performance indicator (KPI) is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages. KPIs provide a focus for strategic and operational improvement, create an analytical basis for decision making and help focus attention on what matters most. Often success is simply the repeated, periodic achievement of some levels of operational goal (e.g.
Business activity monitoringBusiness activity monitoring (BAM) is software that aids the monitoring of business activities which are implemented in computer systems. The term was originally coined by analysts at Gartner, Inc. and refers to the aggregation, analysis, and presentation of real-time information about activities inside organizations, customers, and partners. A business activity can either be a business process that is orchestrated by a business process management (BPM) software, or that of a series of activities spanning across multiple systems and applications.
Data martA data mart is a structure/access pattern specific to data warehouse environments, used to retrieve client-facing data. The data mart is a subset of the data warehouse and is usually oriented to a specific business line or team. Whereas data warehouses have an enterprise-wide depth, the information in data marts pertains to a single department. In some deployments, each department or business unit is considered the owner of its data mart including all the hardware, software and data.
Executive information systemAn executive information system (EIS), also known as an executive support system (ESS), is a type of management support system that facilitates and supports senior executive information and decision-making needs. It provides easy access to internal and external information relevant to organizational goals. It is commonly considered a specialized form of decision support system (DSS). EIS emphasizes graphical displays and easy-to-use user interfaces. They offer strong reporting and drill-down capabilities.
Business process discoveryBusiness process discovery (BPD) related to business process management and process mining is a set of techniques that manually or automatically construct a representation of an organisations' current business processes and their major process variations. These techniques use data recorded in the existing organisational methods of work, documentations, and technology systems that run business processes within an organisation. The type of data required for process discovery is called an event log.
Business analystA business analyst (BA) is a person who processes, interprets and documents business processes, products, services and software through analysis of data. The role of a business analyst is to ensure business efficiency increases through their knowledge of both IT and business function. Some tasks of a business analyst include creating detailed business analysis, budgeting and forecasting, business strategising, planning and monitoring, variance analysis, pricing, reporting and defining business requirements for stakeholders.
