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16 terms

BIS Chapter 9.2

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business intelligence (BI)
refers to applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts
data latency
the time duration to make data ready for analyis (the time for extracting, transforming, and cleansing the data, and loading it into the database)
analysis latency
the time from which data is made available to the time when analysis is complete
decision latency
the time it takes a human to comprehend the analytic result and determine an appropriate action
data mining
the process of analyzing data to extract information not offered by the raw data alone
data-mining tool
uses a variety of techniques to find patterns and relationships in large volumes of information and infer rules from them that predict future behavior and guide decision making
classification
the assignment of records to one of a pre-defined set of classes
estimation
determines values for an unknown continuous variable behavior or estimated future value
affinity grouping
determination of which things go together
clustering
segmentation of a heterogeneous population of records into a number of more homogeneous subgroups
cluster analysis
a technique used to divide an information set into mutually exclusive groups such that the members of each group are as close together as possible to one another and the different groups are as far apart as possible
association detection
reveals the degree to which variables are related and the nature and frequency of these relationships in the information
market basket analysis
analyzes such items as websites and checkout scanner information to detect customers' buying behavior and predict future bhavior by identifying affinities among customers' choices of products and services
statistical analysis
performs such functions as information correlations, distributions, calculations, and variance analysis
forecasts
predictions made on the basis of time-series information
time-series information
time-stamped information collected at a particular frequency