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Industry Glossary

Comprehensive dictionary of industry terms and definitions to help you understand key concepts and terminology.

Data Science

Analytics

The systematic computational analysis of data or statistics. In business, analytics typically refers to the use of data to gain insights and make informed decisions.

"Business analytics helped the company identify a 15% increase in customer engagement after implementing the new marketing strategy."
Data Management

Big Data

Extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.

"The retailer used big data techniques to analyze purchasing patterns across millions of transactions to optimize inventory management."
Technology

Cloud Computing

The delivery of computing services—including servers, storage, databases, networking, software, analytics, and intelligence—over the Internet ("the cloud") to offer faster innovation and flexible resources.

"Migrating to cloud computing reduced the company's IT infrastructure costs by 40% while improving scalability."
Data Science

Data Mining

The process of discovering patterns and knowledge from large amounts of data. Data mining uses methods from statistics, artificial intelligence, and database systems.

"Through data mining, the financial institution detected fraudulent transactions with 95% accuracy."
Artificial Intelligence

Machine Learning

A type of artificial intelligence that enables computers to learn and make decisions from data without being explicitly programmed. Algorithms improve automatically through experience.

"The recommendation engine uses machine learning to suggest products based on customer browsing and purchase history."
Data Science

Predictive Analytics

The use of data, statistical algorithms, and machine learning techniques to identify the likelihood of future outcomes based on historical data.

"Predictive analytics enabled the logistics company to reduce delivery delays by 30% by anticipating traffic patterns."