Business Analytics Strategy

Cube

The fundamental structure for data in a multidimensional (OLAP) system. May contain dimensions, hierarchies, level and measures.

Text mining (text analytics)

Text mining is the analysis of data contained in natural language text. Text mining works by transposing words and phrases in unstructured data into numerical values which can then be linked with structured data in a database and analyzed with traditional data mining techniques.
 

Role-based security

A role-based security is a user-level security feature that allows you to restrict access to a certain feature in the system based on the user role.

In a reporting system, a role-based security layer will enable you to assign roles for each user by allowing or restricting them from performing certain tasks.
 

Ranking

Ranking is the process of positioning items such as individuals, groups or items on an ordinal scale in relation to others.

A ranking can be obtained by evaluating each item in the collection in such a way that any two items can then be compared to see which should come higher in the ranking. Obviously, two different objects can have the same ranking.
 

Radio frequency identification (RFID)

Transponder technology for the contactless recognition of objects. The heart of this technology is the so-called RFID tag, a small computer chip with a miniature antenna. 

It can be used on transport and goods packages as well as sales units and products. When the chip receives the radio signal from a reading device, it automatically transmits the stored data wirelessly. Transmission is based on radio frequencies. The tags are passive; they do not require any battery or maintenance.
 

Prototyping

The construction of a partial system to demonstrate some aspect or aspects of the intended system behavior in order to gain user acceptance or to establish technical feasibility.  
 

Pivot table

Pivot tables enable you to look at data from several dimensions. Such capability is provided in numerous decision support applications under various function names. For example, in a spreadsheet or database, a pivot table provides these views and enables quick switching between them.
 

Pareto filtering

The Pareto principle (also known as the 80-20 rule) states that, for many events, 80% of the effects come from 20% of the causes.

This is a useful feature when a dimension, like customer, has a large number of categories and you want to identify the 20% of your clients who brings 80% of your sales. Filtering based on this principle automatically groups the categories that amount to less than 20% of a row or column total into ‘other’ category.
 

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