📊Business Intelligence: Prescriptive Analytics (Definitions)

"The analytics methods that recommend actions with the goal of finding a set of action that is predicted to produce the best possible outcome." (Brenda L Dietrich et al, "Analytics Across the Enterprise", 2014)

"Prescriptive analytics manipulate large data sets to make recommendations. Decision support that prescribes or recommends an action, rather than a forecast or a summary report." (Daniel J. Power & Ciara Heavin, "Data-Based Decision Making and Digital Transformation", 2018)

"Prescriptive analytics involves analyzing the results of the predictive analytics and 'prescribes' the best category to target and minimize or maximize the objective (s). It builds on predictive analytics and often suggests the best course of action leading to best possible solution. It is about optimizing (maximizing or minimizing) an objective function." (Amar Sahay, "Business Analytics" Vol. I, 2018)

"A combination of analytics, math, experiments, simulation, and/or artificial intelligence used to improve the effectiveness of decisions made by humans or by decision logic embedded in applications." (Forrester)

"A type of data analytics in which a combination of previous performance, business models, and logic is used by a machine to suggest the best course of action to achieve a desired outcome." (Board International)

"Prescriptive analytics is a form of data analytics that uses historical data to forecast what will happen in the future and recommend actions you can take to affect those outcomes." (Logi Analytics) [source]

"Prescriptive analytics is the area of business analytics (BA) dedicated to finding the best course of action for a given situation. Prescriptive analytics is related to both descriptive and predictive analytics. While descriptive analytics aims to provide insight into what has happened and predictive analytics helps model and forecast what might happen, prescriptive analytics seeks to determine the best solution or outcome among various choices, given the known parameters." (Techtarget) [source]

📊Business Intelligence: Business Analytics (Definitions)

"Meta-data that includes data definitions, report definitions, users, usage statistics, and performance statistics." (DAMA International, "The DAMA Dictionary of Data Management", 2011)

"Provides models, which are formulas or algorithms and procedures to BI." (Linda Volonino & Efraim Turban, "Information Technology for Management "8th Ed, 2011)

"The process of leveraging all forms of analytics to achieve business outcomes by requiring business relevancy, actionable insight, performance management, and value measurement." (Evan Stubbs, "Delivering Business Analytics: Practical Guidelines for Best Practice", 2013)

"Application of analytical tools to business questions. Business Analytics focuses on developing insights and understanding related to business performance using quantitative and statistical methods. Business Analytics includes Business Intelligence and Reporting." (Daniel J Power & Ciara Heavin, "Decision Support, Analytics, and Business Intelligence" 3rd Ed., 2017)

"BA is a data-driven decision making approach that uses statistical and quantitative analysis, information technology, and management science (mathematical modeling, simulation), along with data mining and fact-based data to measure past business performance to guide an organization in business planning and effective decision making." (Amar Sahay, "Business Analytics" Vol. I, 2018) 

"Use of data and quantitative and qualitative tools and techniques to improve operations and to support business decision ­making. Emphasis on using statistical and management science techniques, including data mining, to develop predictive and prescriptive models." (Daniel J. Power & Ciara Heavin, "Data-Based Decision Making and Digital Transformation", 2018)

"Aggregated information on business processes that enables managers to analyze process trends, view performance metrics, and respond to organizational change." (Appian)

"Refers to the skills, technologies, and practices for investigation of past business performance to gain insight and drive business planning. It focuses on developing new insights and understanding of business performance based on data and statistical methods. While business intelligence (BI) focuses on a consistent set of metrics to both measure past performance and guide business planning, business analytics is focused on developing new insights and understanding based on statistical methods and predictive modeling." (Insight Software)

"Business Analytics describes the skills, technologies, statistical methods and data driven approaches used to explore and investigate past business performance to gain new insights that can support business planning." (Accenture)

"Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities and predict future states. Business analytics includes data mining, predictive analytics, applied analytics and statistics, and is delivered as an application suitable for a business user." (Gartner)

"Business analytics (BA) is the iterative, methodical exploration of an organization's data, with an emphasis on statistical analysis." (Techtarget) [source] 

"Business Analytics is the process by which businesses use statistical methods and technologies for analyzing historical data in order to gain new insight and improve strategic decision-making." (OmiSci) [source]

"Business analytics is the process of gathering and processing all of your business data, and applying statistical models and iterative methodologies to translate that data into business insights." (Tibco) [source]

"Describes the skills, technologies, statistical methods and data driven approaches used to explore and investigate past business performance to gain new insights that can support business planning. Examples of business analytics tools include data visualization, business intelligence reporting and big data platforms." (Accenture)

♜Strategic Management: Scenario Analysis (Definitions)

"The process of identifying and evaluating potential risks to your business, and how they might play out, before they occur." (Annetta Cortez & Bob Yehling, "The Complete Idiot's Guide® To Risk Management", 2010)

"A technique to evaluate scenarios in order to predict their effect on portfolio objectives." (Project Management Institute, "The Standard for Portfolio Management" 3rd Ed., 2012)

"Scenario analysis, or what-if analysis, assesses the potential out­come of various scenarios by setting up several possible situations and analyzing the potential outcomes of each situation." (Christopher Donohue et al, "Foundations of Financial Risk: An Overview of Financial Risk and Risk-based Financial Regulation" 2nd Ed., 2015)

"A scenario analysis involves changing parameters in a model and then examining the results. A tool that helps a user explore different scenarios by changing a range of input values." (Ciara Heavin & Daniel J Power, "Decision Support, Analytics, and Business Intelligence" 3rd Ed., 2017)

"A technique for integrating information and ideas on current trends and future developments into a small number of distinctly different future outcomes." (Robert M Grant, "Contemporary Strategy Analysis" 10th Ed, 2018)

📊Business Intelligence: Key Performance Indicator [KPI] (Definitions)

"A performance measure that is indicative of the organization's performance within a specific area." (William A Giovinazzo, "Internet-Enabled Business Intelligence", 2002)

"A key performance indicator is a metric that provides business users with an indication of the current and historical performance of an aspect of the business." (Claudia Imhoff et al, "Mastering Data Warehouse Design", 2003)

"A measurement of business operations that compares a value at a specified point in time to a predetermined goal and, optionally, determines a trend direction. Often, a KPI is displayed using a graphical image such as a stoplight or a gauge using colors and relative indicators according to predetermined business rules." (Reed Jacobsen & Stacia Misner, "Microsoft SQL Server 2005 Analysis Services Step by Step", 2006) 

"An important set of metrics (see Metrics) used to determine how well a product is performing in the market." (Steven Haines, "The Product Manager's Desk Reference", 2008)

"Financial and non-financial metrics used to assess the strategic performance of an organization." (Ralph Kimball, "The Data Warehouse Lifecycle Toolkit", 2008)

"Quantifiable, measurable objectives agreed to beforehand and that reflect the critical success factors of an organization." (Tilak Mitra et al, "SOA Governance", 2008)

"A piece of information that an organization considers a crucial reflection of how well it's doing." (Ken Withee, "Microsoft Business Intelligence For Dummies", 2010)

"Financial and nonfinancial metrics used by an organization to define and evaluate how successful it is, typically in terms of making progress toward its goals." (Janice M Roehl-Anderson, "IT Best Practices for Financial Managers", 2010) 

"A business calculation (metric) with associated target values or ranges that allows macro level insights into the business process to manage profitability and monitor strategic impact." (DAMA International, "The DAMA Dictionary of Data Management", 2011)

"In business intelligence, refers to quantifiable measurements (numeric or scale-based) that assess a company’s effectiveness or success in reaching strategic and operational goals. Examples of KPI are product turnovers, sales by promotion, sales by employee, earnings per share, etc." (Carlos Coronel et al, "Database Systems: Design, Implementation, and Management 9th Ed", 2011)

"Metrics that measure the actual performance of critical aspects of IT, such as critical projects and applications, servers, the network, and so forth, against predefined goals and objectives." (Linda Volonino & Efraim Turban, "Information Technology for Management" 8th Ed., 2011)

"A measure used to quantify performance and outcomes." (Carl F Lehmann, "Strategy and Business Process Management", 2012)

"Quantitative performance measures that define the critical success factors of an organization, help the organization measure progress toward its goals and objectives, and identify areas for organizational performance and improvement." (Joan C Dessinger, "Fundamentals of Performance Improvement" 3rd Ed., 2012)

"A high-level measurement meant to indicate how well an individual or group is performing a set of activities that is considered critical to the overall success of an endeavor." (Project Management Institute, "Navigating Complexity: A Practice Guide", 2014)

"A measure that indicates the achievement of a specific objective." (Sally-Anne Pitt, "Internal Audit Quality", 2014)

"A measurement that shows whether an organization is progressing toward its stated goals." (Jim Davis & Aiman Zeid, "Business Transformation: A Roadmap for Maximizing Organizational Insights", 2014)

"Quantitative and measurable statement used to judge whether or not a goal has been reached; linked to a measurement and to the means of evaluation." (Gilbert Raymond & Philippe Desfray, "Modeling Enterprise Architecture with TOGAF", 2014)

"A set of metrics directly linked to the desired corporate objective (e.g., shareholder value) and explicitly integrated into the firm's incentive compensation system." (Thomas C Wilson, "Value and Capital Management", 2015)

"Most frequently referred to as KPIs. Metrics that indicate the performance of the business." (Brittany Bullard, "Style and Statistics", 2016)

"A set of business metrics used to determine whether a person, product, group, or division is successful." (Pamela Schure & Brian Lawley, "Product Management For Dummies", 2017)

"A variable or metric against which the success of a function or business is judged." (Jonathan Ferrar et al, "The Power of People: Learn How Successful Organizations Use Workforce Analytics To Improve Business Performance", 2017)

"A quantifiable measure used to evaluate the success of an organization, strategic initiative, employee, etc., in meeting the objectives for performance." (H James Harrington & William S Ruggles, "Project Management for Performance Improvement Teams", 2018)

"Quantifiable measurements, agreed to beforehand, that reflect the critical success factors of an organization." (William Stallings, "Effective Cybersecurity: A Guide to Using Best Practices and Standards", 2018)

"Used to assess and measure the performance of a specific business task. For example sales results in terms of order rates over a quarterly (3 month) period." (BCS Learning & Development Limited, "CEdMA Europe", 2019)

"KPIs are metrics defined to measure business performance of an enterprise. This term is related to BPM." (Martin Oberhofer et al, "The Art of Enterprise Information Architecture", 2010)

"A key performance indicator (KPI) is a high-level measure of system output, traffic or other usage, simplified for gathering and review on a weekly, monthly or quarterly basis." (Gartner)

"An acronym for Key Performance Indicator. These are key indicators to the health of the business." (BI System Builders)

"A business calculation that allows macro level insights into the business process to manage profitability." (Information Management)

"A type of performance measurement an organization may use to evaluate its success." (Board International)

"Business metrics used to evaluate factors that are crucial to organizational success." (Insight Software)

"Personalized performance metrics and benchmarks that drive the financial and operational success of the company." (Appian)

"A predefined measure that is used to track performance of a strategic goal, objective, plan, initiative, or business process. A KPI is evaluated against a target. An explicit and measurable value taken directly from a data source. Key performance indicators (KPIs) are used to measure performance in a specific area, for example, revenue per customer." (Microsoft)

"An indicator gauging how well a company progresses in numerous areas such as finance, customer service, and product availability and distribution." (Microstrategy)

"Key Performance Indicator - is a critical measurement of the performance of essential tasks, operations, or processes in a company. A KPI will usually unambiguously reveal conditions or performance that is outside the norm and that signals a need for managerial intervention." (Targit)

"Key performance indicators or KPIs […] are visual indicators in the form of color-coded shapes that are tied to a pre-defined, critical threshold. When the threshold is crossed, the KPI’s function is to alert key personnel so that they can take the necessary action." (Logi Analytics) [source]

"Key performance indicators (KPIs) are business metrics used by corporate executives and other managers to track and analyze factors deemed crucial to the success of an organization." (Techtarget) [source] 

📊Business Intelligence: Single Version of Truth [SVoT]/Single Source of Truth [SSoT] (Definitions)

System of Record (SOR): "Also called Single Point of Truth (SPOT), is a method for addressing the data quality problems caused by having multiple, inconsistent representations of the same entity or entity attribute by designating one system as holding and maintaining the authoritative source." (John R Talburt, "Entity Resolution and Information Quality", 2011)

"The SSOT is a logical, often virtual and cloud-based repository that contains one authoritative copy of all crucial data, such as customer, supplier, and product details." (Leandro DalleMule &  Thomas H Davenport, "What’s Your Data Strategy?" , Harvard Business Review, 2017) [source] 

"A single source of truth (SSOT) is the practice of aggregating the data from many systems within an organization to a single location. A SSOT is not a system, tool, or strategy, but rather a state of being for a company’s data in that it can all be found via a single reference point." (MuleSoft) [source]

"One version of the truth (or ‘single version of the truth’; or SVOT: "A technical concept describing the business analysis ideal of having either a single centralized database (data warehouse), or at least a distributed synchronized database, which stores all of an organization’s data in a consistent and non-redundant form. A combination of software, data quality, and strong data leadership can help enterprises and organizations achieve SVOT." (Insight Software)

"Single source of truth (SSOT) is a concept used to ensure that everyone in an organization bases business decisions on the same data." (Talend) [source]

Single Version of the Truth: "One single central data warehouse containing quality assured data that is delivered accurately through Business Intelligence reports. The opposite of this is numerous databases resulting in Business Users getting conflicting answers and results to the same question." (BI System Builders)

📊Business Intelligence: Self-Service BI (Definitions)

Self-service business intelligence (BI): "A self-service BI is a semantic layer that enables business users to perform ad hoc reporting and analysis with no IT intervention. Self-service BI helps in the higher adoption of BI solutions." (Saumya Chaki, "Enterprise Information Management in Practice", 2015)

Self-Service BI: "The activity of end users being self-sufficient in supplying themselves with Business Intelligence reports and/ or queries without having to rely on IT." (BI System Builders)

"Self-service analytics or self-service business intelligence refers to tools used to connect and analyze data, and which are operated primarily by business departments in the organization – rather than IT professionals or dedicated data analysts." (Sisense) [source]

"Self-service BI is a trend with a somewhat vague definition. In the most general sense, self-service BI tasks are those that business users carry out themselves instead of passing them on to IT for fulfillment. The aim is to give the users of BI tools more freedom and responsibility at the same time. At its heart lies the notion of user independence and self-sufficiency when it comes to the use of corporate information, which leads to a decentralization of BI in the organization." (BI Survey) [source]

"Self-service BI (business intelligence) is a software tool or application that empowers business users to analyze data, visualize insights, and obtain and share information in the form of reports and self-service BI dashboards – without the help of IT." (Logi Analytics) [source]

📊Business Intelligence: Real-time Analytics [RTA] (Definitions)

"Real-time analytics (RTA) describes an approach to data processing that allows us to extract value from events as soon as they are made available." (Mark Needham, "Building Real-Time Analytics Systems: From Events to Insights with Apache Kafka and Apache Pinot", 2023)

"Real-time analytics involves the use of tools and techniques to analyze data immediately after it's collected, enabling decision-makers to draw insights and take action in real-time. It integrates, processes, and analyzes live data to support instantaneous decision making. It's characterized by low latency between when data enters the system and when it’s processed." (Dremio) [source]

"Real-Time Intelligence is a powerful service that empowers everyone in your organization to extract insights and visualize their data in motion. It offers an end-to-end solution for event-driven scenarios, streaming data, and data logs." (Microsoft) [source]

"Real-time analytics is a set of techniques for processing data as soon as it becomes available. The main goal is to provide fast and actionable insights." (MongoDB) [source]

"Real-time analytics is the analysis of data as soon as that data becomes available. In other words, users get insights or can draw conclusions immediately (or very rapidly after) the data enters their system." (Sisense) [source]

"Real-time analytics is the discipline that applies logic and mathematics to data to provide insights for making better decisions quickly. For some use cases, real time simply means the analytics is completed within a few seconds or minutes after the arrival of new data. On-demand real-time analytics waits for users or systems to request a query and then delivers the analytic results. Continuous real-time analytics is more proactive and alerts users or triggers responses as events happen." (Gartner) [source]

"Real-time analytics is the use of data and related resources for analysis as soon as it enters the system. The adjective real-time refers to a level of computer responsiveness that a user senses as immediate or nearly immediate." (Techtarget) [source]

"Real time analytics lets users see, analyze and understand data as it arrives in a system. Logic and mathematics are applied to the data so it can give users insights for making real-time decisions." (OmiSci) [source]

"Real-time analytics refers to the practice of collecting and analyzing streaming data as it is generated, with minimal latency between the generation of data and the analysis of that data." (Databricks) [source]

"The ability to use all available enterprise data as needed and usually involves streaming data that allows users to make business decisions on the fly." (Solutions Review)