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BUSINESS STATISTICS#1
The application of statistical methods to analyze business data for informed decision-making.
DATA-DRIVEN DECISIONS#2
Decisions made based on data analysis rather than intuition or personal experience.
KEY PERFORMANCE INDICATORS (KPIs)#3
Measurable values that demonstrate how effectively a company is achieving key business objectives.
STATISTICAL TOOLS#4
Software and methods used to collect, analyze, and interpret data in business contexts.
PROBABILITY THEORY#5
A branch of mathematics dealing with the likelihood of different outcomes.
DESCRIPTIVE STATISTICS#6
Statistical methods that summarize and describe data characteristics.
INFERENTIAL STATISTICS#7
Techniques that allow conclusions to extend beyond the immediate data alone.
REGRESSION ANALYSIS#8
A statistical method for modeling the relationship between dependent and independent variables.
ANOVA#9
Analysis of variance; a statistical method used to compare means among three or more groups.
TIME SERIES ANALYSIS#10
Techniques used to analyze time-ordered data points to identify trends and patterns.
DATA VISUALIZATION#11
The graphical representation of information and data to facilitate understanding.
DATA CLEANING#12
The process of correcting or removing inaccurate records from a dataset.
EXPLORATORY DATA ANALYSIS (EDA)#13
Analyzing data sets to summarize their main characteristics, often using visual methods.
HYPOTHESIS TESTING#14
A statistical method to determine if there is enough evidence to reject a null hypothesis.
MACHINE LEARNING#15
A subset of artificial intelligence that enables systems to learn from data and improve over time.
STRATEGIC PLANNING#16
The process of defining a business's direction and making decisions on resource allocation.
FEEDBACK LOOPS#17
Processes in which outputs of a system are circled back and used as inputs.
DATA COLLECTION#18
The systematic gathering of information for analysis and decision-making.
KPI DASHBOARD#19
A visual display of key metrics used to monitor business performance.
STAKEHOLDER ENGAGEMENT#20
The process of involving individuals or groups who may be affected by a business's decisions.
PRESENTATION DESIGN#21
The process of creating visual aids to effectively communicate information.
ACTIONABLE INSIGHTS#22
Conclusions drawn from data analysis that can be acted upon to improve business outcomes.
BUSINESS ANALYTICS#23
The skills, technologies, practices for continuous iterative exploration, and investigation of past business performance.
DATA INTERPRETATION#24
The process of making sense of numerical data and drawing conclusions.
COLLABORATION WITH DATA TEAMS#25
Working together with data professionals to enhance decision-making processes.