Business analyticsBusiness analytics (BA) refers to the skills, technologies, and practices for iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods. In contrast, business intelligence traditionally focuses on using a consistent set of metrics to both measure past performance and guide business planning.
Data integrationData integration involves combining data residing in different sources and providing users with a unified view of them. This process becomes significant in a variety of situations, which include both commercial (such as when two similar companies need to merge their databases) and scientific (combining research results from different bioinformatics repositories, for example) domains. Data integration appears with increasing frequency as the volume (that is, big data) and the need to share existing data explodes.
Extract, transform, loadIn computing, extract, transform, load (ETL) is a three-phase process where data is extracted, transformed (cleaned, sanitized, scrubbed) and loaded into an output data container. The data can be collated from one or more sources and it can also be output to one or more destinations. ETL processing is typically executed using software applications but it can also be done manually by system operators. ETL software typically automates the entire process and can be run manually or on reoccurring schedules either as single jobs or aggregated into a batch of jobs.
BioinformaticsBioinformatics (ˌbaɪ.oʊˌɪnfɚˈmætɪks) is an interdisciplinary field of science that develops methods and software tools for understanding biological data, especially when the data sets are large and complex. Bioinformatics uses biology, chemistry, physics, computer science, computer programming, information engineering, mathematics and statistics to analyze and interpret biological data. The subsequent process of analyzing and interpreting data is referred to as computational biology.
Prescriptive analyticsPrescriptive analytics is a form of business analytics which suggests decision options for how to take advantage of a future opportunity or mitigate a future risk, and shows the implication of each decision option. It enables an enterprise to consider "the best course of action to take" in the light of information derived from descriptive and predictive analytics. Prescriptive analytics is the third and final phase of business analytics, which also includes descriptive and predictive analytics.
Attribution biasIn psychology, an attribution bias or attributional bias is a cognitive bias that refers to the systematic errors made when people evaluate or try to find reasons for their own and others' behaviors. People constantly make attributions—judgements and assumptions about why people behave in certain ways. However, attributions do not always accurately reflect reality. Rather than operating as objective perceivers, people are prone to perceptual errors that lead to biased interpretations of their social world.
PredictionA prediction (Latin præ-, "before," and dicere, "to say"), or forecast, is a statement about a future event or data. They are often, but not always, based upon experience or knowledge. There is no universal agreement about the exact difference from "estimation"; different authors and disciplines ascribe different connotations. Future events are necessarily uncertain, so guaranteed accurate information about the future is impossible. Prediction can be useful to assist in making plans about possible developments.
InfarctionInfarction is tissue death (necrosis) due to inadequate blood supply to the affected area. It may be caused by artery blockages, rupture, mechanical compression, or vasoconstriction. The resulting lesion is referred to as an infarct (from the Latin infarctus, "stuffed into"). Infarction occurs as a result of prolonged ischemia, which is the insufficient supply of oxygen and nutrition to an area of tissue due to a disruption in blood supply. The blood vessel supplying the affected area of tissue may be blocked due to an obstruction in the vessel (e.
Customer relationship managementCustomer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information. CRM systems compile data from a range of different communication channels, including a company's website, telephone (which many softwares come with a softphone), email, live chat, marketing materials and more recently, social media.
Digital twinA digital twin is a digital representation of an intended or actual real-world physical product, system, or process (a physical twin) that serves as the effectively indistinguishable digital counterpart of it for practical purposes, such as simulation, integration, testing, monitoring, and maintenance. The digital twin has been intended from its initial introduction to be the underlying premise for Product Lifecycle Management and exists throughout the entire lifecycle (create, build, operate/support, and dispose) of the physical entity it represents.
Fundamental attribution errorIn social psychology, fundamental attribution error, also known as correspondence bias or attribution effect, is a cognitive attribution bias where observers underemphasize situational and environmental factors for the behavior of an actor while overemphasizing dispositional or personality factors. In other words, observers tend to overattribute the behaviors of others to their personality (e.g., he is late because he's selfish) and underattribute them to the situation or context (e.g.
Framingham Risk ScoreThe Framingham Risk Score is a sex-specific algorithm used to estimate the 10-year cardiovascular risk of an individual. The Framingham Risk Score was first developed based on data obtained from the Framingham Heart Study, to estimate the 10-year risk of developing coronary heart disease. In order to assess the 10-year cardiovascular disease risk, cerebrovascular events, peripheral artery disease and heart failure were subsequently added as disease outcomes for the 2008 Framingham Risk Score, on top of coronary heart disease.
