Prescriptive Analytics

Prescriptive Analytics

Definition Prescriptive Analytics is the most complex and most recent type of analytics. It combines structured and unstructured data with advanced processes like “machine learning”. This newly developed technology involves advanced algorithmic processes that predict the future based on past … Continued
Customer Relationship Management (CRM)

Customer Relationship Management (CRM)

Definition Customer Relationship Management refers to practices, strategies and technologies that companies use to carefully manage and analyze detailed information about individual customers and all customer “touch points”. The aim of this analysis is to improve and maintain loyal business … Continued
Unstructured Data

Unstructured Data

Definition Unstructured data refers to any data that has no identifiable structure (e.g. images, videos, email, documents, text). Although each individual document may contain its own specific structure or format based on the software used to create the data, unstructured … Continued
Distribution Management System (DMS)

Distribution Management System (DMS)

Definition A Distribution Management System (DMS) is a utility IT system designed to collect, organize, display and analyze real-time distribution information. It is designed to monitor and control the efficiency and reliability of the distributors, and should measure channel and … Continued
Standard Operating Procedure (SOP)

Standard Operating Procedure (SOP)

Definition The Standard Operating Procedures (SOPs) are the documented processes that a company has in place to ensure the consistent delivery of services and/or products every time. Every business require key SOPs including (1) Operations – steps to handle the … Continued