Glossary
Predictive Analytics
Using data and algorithms to forecast future trends or behaviours.
Defination
Predictive Analytics combines historical data with machine learning to anticipate future outcomes, enabling businesses to make proactive decisions. This approach is invaluable for forecasting sales, identifying customer needs, and optimising resources. By leveraging predictive insights, organisations can stay ahead of trends, mitigate risks, and seize opportunities, creating a competitive edge in an increasingly data-driven marketplace.
Return on Investment (ROI)
A measure of the profitability of an investment or activity.
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Dynamic Range
The range between the darkest and lightest elements of a video or photo.
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Product Lifecycle
The stages a product goes through from development to decline.
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