DataIn common usage and statistics, data (USˈdætə; UKˈdeɪtə) 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 of data. Data is usually organized into structures such as tables that provide additional context and meaning, and which may themselves be used as data in larger structures.
Parametric statisticsParametric statistics is a branch of statistics which assumes that sample data comes from a population that can be adequately modeled by a probability distribution that has a fixed set of parameters. Conversely a non-parametric model does not assume an explicit (finite-parametric) mathematical form for the distribution when modeling the data. However, it may make some assumptions about that distribution, such as continuity or symmetry. Most well-known statistical methods are parametric.
Management scienceManagement science (or managerial science) is a wide and interdisciplinary study of solving complex problems and making strategic decisions as it pertains to institutions, corporations, governments and other types of organizational entities. It is closely related to management, economics, business, engineering, management consulting, and other fields.
Use caseIn software and systems engineering, the phrase use case is a polyseme with two senses: A usage scenario for a piece of software; often used in the plural to suggest situations where a piece of software may be useful. A potential scenario in which a system receives an external request (such as user input) and responds to it. This article discusses the latter sense. A use case is a list of actions or event steps typically defining the interactions between a role (known in the Unified Modeling Language (UML) as an actor) and a system to achieve a goal.
HermeneuticsHermeneutics (ˌhɜːrməˈnjuːtɪks) is the theory and methodology of interpretation, especially the interpretation of biblical texts, wisdom literature, as well as philosophical texts. As necessary, hermeneutics may include the art of understanding and communication. Modern hermeneutics includes both verbal and non-verbal communication as well as semiotics, presuppositions, and pre-understandings. Hermeneutics has been broadly applied in the humanities, especially in law, history and theology.
Architectural technologyArchitectural technology, or building technology, is the application of technology to the design of buildings. It is a component of architecture and building engineering and is sometimes viewed as a distinct discipline or sub-category. New materials and technologies generated new design challenges and construction methods throughout the evolution of building, especially since the advent of industrialisation in the 19th century. Architectural technology is related to the different elements of a building and their interactions; it is closely aligned with advances in building science.
Return on marketing investmentReturn on marketing investment (ROMI) is the contribution to profit attributable to marketing (net of marketing spending), divided by the marketing 'invested' or risked. ROMI is not like the other 'return-on-investment' (ROI) metrics because marketing is not the same kind of investment. Instead of money that is 'tied' up in plants and inventories (often considered capital expenditure or CAPEX), marketing funds are typically 'risked'. Marketing spending is typically expensed in the current period (operational expenditure or OPEX).
Marketing mix modelingMarketing 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.
