Descriptive Analytics
The interpretation of historical data to identify trends and patterns.
22 topics found for
“historical data”
Normal Distribution
A statistical distribution where most occurrences take place near the mean, and fewer occurrences happen as you move further from the mean, forming a bell curve.
Sales Forecasting
The process of estimating future sales based on historical data, trends, and market analysis.
Empirical Rule
Also known as the 68-95-99.7 Rule, it states that for a normal distribution, nearly all data will fall within three standard deviations of the mean.
Predictive Analytics
The use of statistical techniques and algorithms to analyze historical data and make predictions about future outcomes.
Forecasting
The process of making predictions about future trends based on current and historical data.
Demand Forecasting
The process of predicting future customer demand using historical data and other information.
Three-Sigma Rule
A statistical rule stating that nearly all values in a normal distribution (99.7%) lie within three standard deviations (sigma) of the mean.
LTV
Lifetime Value (LTV) is a metric that estimates the total revenue a business can expect from a single customer account throughout their relationship.