- A/B testing
- (also, split testing) method used to compare two versions (A and B) of a webpage, email, or advertisement to determine which one performs better in terms of user engagement or conversion rate
- application programming interface (API)
- means by which software applications communicate and interact with each other for the purpose of exchanging data and functionality
- benchmarking
- comparison of an organization's performance against industry standards and competing businesses
- bounce rate
- percentage of visitors who navigate away from a website after viewing only one page, indicating a lack of engagement or interaction with additional content
- business intelligence (BI)
- process of collecting, analyzing, and interpreting data to inform business decision-making and improve organizational performance
- business intelligence reporting
- process of creating, designing, and delivering reports and visualizations that communicate insights derived from BI analysis to support decision-making within an organization
- call to action
- prompt or directive placed within a website, advertisement, or marketing material that encourages users to take a specific action, such as making a purchase, signing up for a newsletter, or requesting more information
- clustering
- unsupervised learning technique used to group similar data points together based on their intrinsic characteristics or attributes
- conversion rate
- percentage of website visitors who complete a desired action, such as making a purchase, filling out a form, or signing up for a newsletter, out of the total number of visitors
- cost-benefit analysis
- systematic approach to assessing the costs and benefits of a proposed project, investment, or decision to determine its feasibility and potential return on investment
- data analysis
- systematic process using statistical and logical techniques to review, sort, and condense data for the purpose of gaining insight on areas of interest
- data analytics
- process of examining datasets to draw conclusions and insights, typically using statistical and computational methods to inform decision-making or solve problems
- data marketplace
- online platform or ecosystem where data providers and consumers can buy, sell, or exchange datasets and related services
- data mining
- process of analyzing large datasets to discover patterns, trends, and insights using statistical and computational techniques
- decision tree
- decision-making tool that uses a tree structure diagram in which branches represent choices and their outcomes
- descriptive analytics
- analyzing historical data to understand past performance, trends, and patterns within an organization or specific business processes
- diagnostic analytics
- examining patterns in data to identify correlations and causes of certain events or outcomes
- extract-transform-load (ETL)
- process used to extract data from multiple sources, transform the data into a usable format, and load the data into a data warehouse for data analytics
- key performance indicator
- measurable value that demonstrates how effectively a company is achieving its key business objectives and goals
- linear regression
- method that presents the relationship between variables as a linear equation on a graph
- log file analysis
- analysis examining server log files to gather data on website traffic, user behavior, and server performance, providing insights into website usage patterns and potential issues
- metric
- quantifiable measure used to track and evaluate the performance, progress, or success of a particular aspect of a business, campaign, or activity
- operational decision
- decision focused on day-to-day activities that involves optimizing processes, allocating resources, and managing immediate operational challenges
- outlier
- observation that deviates significantly from the rest of the dataset, potentially indicating anomalies, errors, or unique patterns that require special attention during analysis
- page tagging
- embedding a snippet of JavaScript code, known as a tracking tag or pixel, on each webpage to track user interactions, behaviors, and events
- predictive analytics
- use of statistical algorithms and machine learning techniques to analyze historical data and forecast future outcomes or trends
- prescriptive analytics
- using data analysis and modeling techniques to recommend specific actions or strategies to optimize business processes and outcomes
- recency, frequency, and monetary (RFM)
- task of customer segmentation or grouping based on their purchasing habits
- regression
- statistical analysis method used to quantify the relationship between variables and to make predictions
- search engine optimization (SEO)
- process of optimizing website content and structure to increase visibility and ranking on search engine results pages
- sensor data collection
- gathering data from sensors designed to detect and respond to physical or environmental conditions, such as temperature, pressure, or motion
- strategic decision
- long-term decision made by an organization to define their overall direction, goals, and competitive positioning in the market
- tactical decision
- medium-term decision made by an organization to achieve specific objectives or goals within a defined time frame
- training
- process that uses labeled or historical data to teach machine learning algorithms or models to recognize patterns, relationships, and trends, enabling them to make predictions or classifications on new data
- visualization
- graphical representation of data and information to facilitate understanding, analysis, and communication of insights and trends
- web analytics
- collection, measurement, analysis, and reporting of website data to understand and optimize user behavior, engagement, and overall performance
- web scraping
- automated extraction of data from websites, typically using software to simulate human browsing behavior and retrieve information from web pages