WTW Vocabulary Week 7

Trend

• A general direction or pattern of data movement over time.
• Extending known data or trends into an unknown area to predict future values.
• The method of analyzing raw data to find trends and answer questions.
• Combining various elements of data into a coherent whole or narrative.

Outlier

• A data point significantly different from others, often signaling an anomaly.
• The structured storytelling of data findings to create meaning and impact.
• The consistency and dependability of data or its sources.
• Comparing data against a standard or best practice to gauge performance.

Forecast

• A prediction based on analysis of current and historical data.
• The degree to which data points differ from the average.
• A deep understanding derived from analyzing complex information.
• A statistical relationship indicating how two variables move together.

Insight

• A deep understanding derived from analyzing complex information.
• A collection of related numerical or categorical information.
• The process of making sense of complex data or results.
• Structured storytelling of data findings to create meaning and impact.

Extrapolation

• Extending known data or trends into an unknown area to predict future values.
• Expressing or measuring something as a numerical value.
• Comparing data against a standard or best practice to gauge performance.
• A prediction based on analysis of current and historical data.

Variance

• The degree to which data points differ from the average.
• The graphical representation of information or data.
• The consistency and dependability of data or its sources.
• The process of making sense of complex data or results.

Correlation

• A statistical relationship indicating how two variables move together.
• The method of analyzing raw data to find trends and answer questions.
• Combining various elements of data into a coherent whole or narrative.
• A collection of related numerical or categorical information.

Data Set

• A collection of related numerical or categorical information.
• Extending known data or trends into an unknown area to predict future values.
• A general direction or pattern of data movement over time.
• Expressing or measuring something as a numerical value.

Analytics

• The method of analyzing raw data to find trends and answer questions.
• A deep understanding derived from analyzing complex information.
• A statistical relationship indicating how two variables move together.
• The structured storytelling of data findings to create meaning and impact.

Benchmarking

• Comparing data against a standard or best practice to gauge performance.
• The degree to which data points differ from the average.
• Expressing or measuring something as a numerical value.
• Structured storytelling of data findings to create meaning and impact.