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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
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