Dear aspirant readers I have give some business critical terms using in high level business proportions, but those terms are the key factor to determine the business process flow.
Bayesian Statistics: Statistical methods that incorporate prior judgment into problems of inference.
Conjoint Analysis: Models and techniques that emphasize the transformation of subjective responses into estimated parameters.
Data Reduction: Methods of reducing large amounts of data into smaller groupings that reveal the structure and interdependencies of the data.
Decision Analysis: A logical and sequential process designed to yield high-quality decisions about complex problems with important uncertainties. Factor Analysis: A set of statistical techniques that address themselves to the study of interrelationships among a total set of observed variables.
Hypothesis Testing: A general term referring to the procedures for the statistical determination of the validity of a hypothesis.
Multidimensional Scaling: A body of techniques for representing graphically the locations and interrelationships among a set of points.
Non-probabilistic Sample Surveys: Surveys not on a probability sample of the population.
Prediction: Development of definite statements about the future based on knowledge of how changes in the environment will shape the future.
Product Position Maps: Maps that represent the perceived relationships among brands, with shorter distances between brands indicating greater similarity in perception of relevant attributes.