Business Intelligence and Analytics Overview

These flashcards cover key vocabulary terms related to business intelligence and analytics as discussed in the lecture.

Business Intelligence (BI)

Technologies and strategies used by enterprises for data analysis of business information.

Data Integration

The process of combining data from different sources into a single, unified view.

Data Warehouse

A centralized repository for storing data from multiple sources, used for reporting and analysis.

Data Mart

A subset of a data warehouse, focused on a specific line of business or function.

Data Lake

A storage repository that holds vast amounts of raw data in its native format.

RFM Analysis

A marketing technique used to analyze customer value based on Recency, Frequency, and Monetary value.

Pivot Table

A data processing tool in Excel that allows users to summarize and analyze data.

Data Visualization

The graphical representation of information and data to display trends, patterns, and insights.

Supervised Data Mining

A type of data mining where the model is created before analysis to direct the mining process.

Unsupervised Data Mining

A data mining technique where patterns are identified without a predefined model or specific outcome.

market-basket analysis

a data-mining technique that identifies sales patterns by analyzing customer transactions to determine which products are frequently bought together. helps understand purchase probabilities and identify cross-selling opportunities.