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Waterfall charts can be used for various types of quantitative analysis, ranging from inventory analysis to performance analysis. [4] Waterfall charts are also commonly used in financial analysis to display how a net value is arrived at through gains and losses over time or between actual and budgeted amounts. Changes in cash flows or income ...
Data visualization refers to the techniques used to communicate data or information by encoding it as visual objects (e.g., points, lines, or bars) contained in graphics. The goal is to communicate information clearly and efficiently to users. It is one of the steps in data analysis or data science. According to Vitaly Friedman (2008) the "main ...
Data mining is a particular data analysis technique that focuses on statistical modeling and knowledge discovery for predictive rather than purely descriptive purposes, while business intelligence covers data analysis that relies heavily on aggregation, focusing mainly on business information. [4]
Data analysis focuses on the process of examining past data through business understanding, data understanding, data preparation, modeling and evaluation, and deployment. [8] It is a subset of data analytics, which takes multiple data analysis processes to focus on why an event happened and what may happen in the future based on the previous data.
Business intelligence (BI) consists of strategies, methodologies, and technologies used by enterprises for data analysis and management of business information. [1] Common functions of BI technologies include reporting, online analytical processing, analytics, dashboard development, data mining, process mining, complex event processing, business performance management, benchmarking, text ...
For example, a company might wish to summarize financial data by product, by time-period, and by city to compare actual and budget expenses. Product, time, city and scenario (actual and budget) are the data's dimensions. [3] Cube is a shorthand for multidimensional dataset, given that data can have an arbitrary number of dimensions.
In these examples data may be stated in nominal or real values, that is, in money or inflation-adjusted terms. Other economic indicators include a variety of alternative measures of output, orders, trade, the labor force, confidence, prices, and financial series (e.g., money and interest rates).
For example, "Distance traveled (m)" is a typical x-axis label and would mean that the distance traveled, in units of meters, is related to the horizontal position of the data within the chart. Within the graph, a grid of lines may appear to aid in the visual alignment of data. The grid can be enhanced by visually emphasizing the lines at ...