Click analytics is a special type of web analytics that is click-oriented and constitutes the first stage in the conversion funnel. Click analytics is useful for the analysis of web activity, marketing, software testing, market research and analyzing employee productivity. That is, click analytics serves fundamentally to help improve the website and show website owners what their site visitors are … [Read more...]
What is Open Database Connectivity (ODBC)?
Open Database Connectivity (ODBC) is a standardized database interface that uses SQL as the database language. It thus provides an application programming interface (API) that allows a programmer to develop his application relatively independently of the database management system (DBMS) used, if an ODBC driver exists for it. ODBC allows you to set up the database access details (credentials), … [Read more...]
What is Statistical Inference?
Inferential statistics is a part of statistics that comprises the methods and procedures that utilize induction to determine properties of a statistical population, from a part of it. Its objective is to obtain useful conclusions to make deductions about a totality, based on the numerical information of the sample. It is dedicated to the generation of the models and predictions associated with … [Read more...]
What is False Discovery Rate?
The False Discovery Rate (FDR)is used to control multiple test problems. For a test procedure, it is defined as the expected ratio of incorrectly rejected null hypotheses to the rejected null hypotheses as a whole. In statistics, false discovery rate (FDR) is a method of detecting the rate of Type I errors in the testing of a null hypothesis. FDR control procedures are designed to check the … [Read more...]
What is Data Dictionary?
A data dictionary is a catalogue of metadata that contains the definitions and presentation rules for all of an organization's application data and the relationships between the various data objects so that the database is structured in a redundancy-free and uniform manner. It is a use case of a specific data model. In a relational database, a data dictionary is a set of tables and views that … [Read more...]
Data Visualization : What It Is and Why It Matters
Data visualization is the process of translating data into a visual context, and it is one of the aspects of descriptive analysis. It is the process of visualizing our data using histograms, bar charts, pie charts, and box plots. It displays the information in a graphical or pictorial format. This method allows the user to comprehend the data and gain meaningful insights. The primary purpose of … [Read more...]
What is Online Transaction Processing?
Online transaction processing (OLTP), also known as real-time transaction processing, refers to a usage paradigm of database systems and business applications in which the processing of transactions takes place directly and promptly, i.e. without significant time delay. The counterpart is batch processing, in which all business transactions are collected and processed in batch runs – often at … [Read more...]
The Role Of Big Data In E-Commerce
The role of deriving insights out of the enormous volume and variety of data any online business encounters today is mind-numbing. E-Commerce firms that process this gathered data to derive patterns and target customers’ purchasing behavior can benefit greatly. The abundance of data that these E-Commerce firms deal with daily makes the application of Big Data imperative to make smart and … [Read more...]
What is Text Mining?
Text mining or textual data mining, is a bundle of algorithm-based analysis methods for the discovery of meaning structures from unstructured or weakly structured text data. Using statistical means, text mining software opens up structures from texts that are intended to enable users to quickly recognize core information of the processed texts. Ideally, text mining systems provide information that … [Read more...]
What is SWOT Analysis?
SWOT analysis is a strategic planning and strategic management technique used to help a person or organization identify strengths, weaknesses, opportunities, and threats related to business competition or project planning. It is sometimes called situational assessment or situational analysis. Additional acronyms using the same components include TOWS and WOTS-UP. This technique is designed for … [Read more...]
5 Ways To Use Machine Learning In Digital Marketing
Internet-enabled devices have been a part of our lives. One can’t even leave the house without their cellphones in their bags or on their hands. As you’d expect, tech giants have found a way to take advantage of this by continuously analyzing people’s behavior and making decisions based on how they use the internet through their devices. Business owners, big and small, have benefited from machine … [Read more...]
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