CAUTION – Below Analytics Definitions are meant for 2-eyes only! If you are a geek, please proceed to the Geeky Analytic Definitions page.

  • classification tree

    non-linear model used to predict membership of observations in the classes of a categorical dependent variable based on several variables.

  • cluster analysis

    creating groups or clusters of observations that are different across groups, yet similar within groups.

  • cross sell

    selling a product from your portfolio to an existing customer that has yet to purchase said product.

  • business analytics

    the art and science of leveraging data across multiple organizations and people to improve business decision making.

  • a/b testing

    to test a marketing tactic where a control sample is compared to a test sample in order to improve response rates.

  • regression tree

    non-linear model explanatory variables to explain one continuous dependent variable.

  • text mining

    the process of determining valuable information from (often un-structured) text

  • game theory

    study of strategic and interdependent choice among more than one person (company).

  • customer segmentation

    identifying distinct customer groups or clusters that view your positioning in a similar way.

Statsoft.com is a great source for definitions, check out theirĀ statistics glossary.