Business Analytics
The process of using statistical analysis and modeling to explore and interpret business data to make informed decisions.
63 topics found for
“accurate data analysis”
Cost-Benefit
An analysis comparing the costs and benefits of a decision or project to determine its feasibility and value.
Inductive Research
A research approach that starts with observations and develops broader generalizations or theories from them.
RFM
Recency, Frequency, Monetary (RFM) analysis is a marketing technique used to evaluate and segment customers based on their purchasing behavior.
Demand Forecasting
The process of predicting future customer demand using historical data and other information.
Central Limit Theorem
A statistical theory that states that the distribution of sample means approximates a normal distribution as the sample size becomes larger, regardless of the population's distribution.
Repeated Measures Design
A research design where the same participants are used in all conditions of an experiment, allowing for the comparison of different conditions within the same group.
Sentiment Analysis
The use of natural language processing to identify and extract subjective information from text, determining the sentiment expressed.
Illusory Correlation
The perception of a relationship between two variables when no such relationship exists.