AnalyticsAnalytics 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.
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.
Online analytical processingOnline analytical processing, or OLAP (ˈoʊlæp), is an approach to answer multi-dimensional analytical (MDA) queries swiftly in computing. OLAP is part of the broader category of business intelligence, which also encompasses relational databases, report writing and data mining. Typical applications of OLAP include business reporting for sales, marketing, management reporting, business process management (BPM), budgeting and forecasting, financial reporting and similar areas, with new applications emerging, such as agriculture.
Column (database)In a relational database, a column is a set of data values of a particular type, one value for each row of the database. A column may contain text values, numbers, or even pointers to files in the operating system. Columns typically contain simple types, though some relational database systems allow columns to contain more complex data types, such as whole documents, images, or even video clips. A column can also be called an attribute. Each row would provide a data value for each column and would then be understood as a single structured data value.
Object storageObject storage (also known as object-based storage) is a computer data storage that manages data as objects, as opposed to other storage architectures like which manages data as a file hierarchy, and block storage which manages data as blocks within sectors and tracks. Each object typically includes the data itself, a variable amount of metadata, and a globally unique identifier. Object storage can be implemented at multiple levels, including the device level (object-storage device), the system level, and the interface level.
Cloud storageCloud storage is a model of computer data storage in which the digital data is stored in logical pools, said to be on "the cloud". The physical storage spans multiple servers (sometimes in multiple locations), and the physical environment is typically owned and managed by a hosting company. These cloud storage providers are responsible for keeping the data available and accessible, and the physical environment secured, protected, and running. People and organizations buy or lease storage capacity from the providers to store user, organization, or application data.
Hard disk drive performance characteristicsHigher performance in hard disk drives comes from devices which have better performance characteristics. These performance characteristics can be grouped into two categories: access time and data transfer time (or rate). The access time or response time of a rotating drive is a measure of the time it takes before the drive can actually transfer data. The factors that control this time on a rotating drive are mostly related to the mechanical nature of the rotating disks and moving heads.
Price elasticity of demandA good's price elasticity of demand (, PED) is a measure of how sensitive the quantity demanded is to its price. When the price rises, quantity demanded falls for almost any good, but it falls more for some than for others. The price elasticity gives the percentage change in quantity demanded when there is a one percent increase in price, holding everything else constant. If the elasticity is −2, that means a one percent price rise leads to a two percent decline in quantity demanded.
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.
Business analyticsBusiness 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. In contrast, business intelligence traditionally focuses on using a consistent set of metrics to both measure past performance and guide business planning.
