Business Analytics/Business Intelligence Definitions

This glossary explains the meaning of key words and phrases that information technology (IT) and business professionals use when discussing business analytics and related software products. You can find additional definitions by visiting WhatIs.com or using the search box below.

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  • A

    analytic database

    An analytic database, also called an analytical database, is a read-only system that stores historical data on business metrics such as sales performance and inventory levels.

  • association rules

    Association rules are if-then statements that show the probability of relationships between data items within large data sets in various types of databases.

  • What is ad hoc analysis?

    Ad hoc analysis is a business intelligence (BI) process designed to answer a specific business question by using company data from various sources.

  • B

    What is a business intelligence dashboard (BI dashboard)?

    A business intelligence dashboard, or BI dashboard, is a data visualization and analysis tool that displays on one screen the status of key performance indicators (KPIs) and other important business metrics and data points for an organization, department, team or process.

  • What is business intelligence (BI)? A detailed guide

    Business intelligence (BI) is a technology-driven process for analyzing data and delivering actionable information that helps executives, managers and workers make informed business decisions.

  • What is business intelligence architecture (BI architecture)?

    A business intelligence architecture is a framework for the various technologies an organization deploys to run business intelligence and analytics applications.

  • C

    citizen data scientist

    A citizen data scientist is an individual who does some data science work for an organization but doesn't hold the title of data scientist or have a formal background in advanced analytics, statistics or related disciplines.

  • customer analytics (customer data analytics)

    Customer analytics, also called customer data analytics, is the systematic examination of a company's customer information and behavior to identify, attract and retain the most profitable customers.

  • D

    data curation

    Data curation is the process of creating, organizing and maintaining data sets so they can be accessed and used by people looking for information.

  • data mining

    Data mining is the process of sorting through large data sets to identify patterns and relationships that can help solve business problems through data analysis.

  • data sampling

    Data sampling is a statistical analysis technique used to select, manipulate and analyze a representative subset of data points to identify patterns and trends in the larger data set being examined.

  • decision-making process

    A decision-making process is a series of steps one or more individuals take to determine the best option or course of action to address a specific problem or situation.

  • What is data preparation? An in-depth guide

    Data preparation is the process of gathering, combining, structuring and organizing data for use in business intelligence, analytics and data science applications, as explained in this guide.

  • What is days sales outstanding (DSO)?

    Days sales outstanding (DSO) measures the average time it takes a business to collect payments after a sale.

  • E

    edge analytics

    Edge analytics is an approach to data collection and analysis in which an automated analytical computation is performed on data at a sensor, network switch or other device instead of waiting for the data to be sent back to a centralized data store.

  • K

    What is a key performance indicator (KPI)? Strategy and guide

    Key performance indicators (KPIs) are quantifiable business metrics that corporate executives, managers and other stakeholders use to track and analyze factors deemed crucial to meeting the organization's stated objectives.

  • O

    operational efficiency

    Operational efficiency refers to an organization's ability to reduce waste of time, effort and material while still producing a high-quality service or product.

  • R

    What is real-time business intelligence (RTBI)?

    Real-time business intelligence (RTBI) combines data analytics and various data processing tools to enable access to the most relevant, up-to-the-minute data and visualizations.

  • S

    self-service analytics

    Self-service analytics is a type of business intelligence (BI) that enables business users to access, manipulate, analyze and visualize data, as well as generate reports based on their discoveries.

  • standard operating procedure (SOP)

    A standard operating procedure is a set of step-by-step instructions for performing a routine activity.

  • What is self-service business intelligence (self-service BI)?

    Self-service business intelligence (BI) is an approach to data analytics that enables nontechnical business users to access and explore data sets.

  • What is sentiment analysis?

    Sentiment analysis, also referred to as 'opinion mining,' is an approach to natural language processing (NLP) that identifies the emotional tone behind a body of text.