Data Terms

Marketing Intelligence: is the everyday information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining market opportunity, market penetration strategy, and market development metrics.

Predictive Modeling: uses statistics to predict outcomes. Most often the event one wants to predict is in the future, but predictive modelling can be applied to any type of unknown event, regardless of when it occurred.

Byte: In most computer systems, a byte is a unit of data that is eight binary digits long. A byte is the unit most computers use to represent a character such as a letter, number or typographic symbol. Each byte can hold a string of bits that need to be used in a larger unit for application purposes.

Bit: A bit (short for binary digit) is the smallest unit of data in a computer. A bit has a single binary value, either 0 or 1. Although computers usually provide instructions that can test and manipulate bits, they generally are designed to store data and execute instructions in bit multiples called bytes. In most computer systems, there are eight bits in a byte.

Micropolitan Statistical Data: United States micropolitan statistical areas, as defined by the Office of Management and Budget, are labor market areas in the United States centered on an urban cluster with a population of at least 10,000 but fewer than 50,000 people. The micropolitan area designation was created in 2003

Firmographic Data: Types of information that can be used to categorize organizations, such as geographic area, number of clients, type of organization, industry, technologies used and so on. The data is used to segment organizations into meaningful categories.

Transactional Data: In the context of data management, is the information recorded from transactions.

A transaction, in this context, is a sequence of information exchange and related work (such as database updating) that is treated as a unit for the purposes of satisfying a request. Transactional data can be financial, logistical or work-related, involving everything from a purchase order to shipping status to employee hours worked to insurance costs and claims.

As a part of transactional records, transactional data is grouped with associated master data and reference data. Transactional data records a time and relevant reference data needed for a particular transaction record.

Market Intelligence: The information relevant to a company’s market – trends, competitor and customer (existing, lost and targeted) monitoring, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining strategy in areas such as market opportunity, market penetration strategy, and market development

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