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Glossary / Lexicon

What is data integration?

12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Data integration is a process of consolidating, processing and harmonizing data from different sources to combine them into a coherent information system. The purpose of data integration is to combine all relevant information from different sources to provide a unified understanding of the data set. This allows companies to access and use the data in a unified way in decision making and business process.
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What is data governance?

12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Data governance is a formal approach to managing and controlling data in an organization. It includes policies and processes that govern the collection, processing, storage, and use of data. The goal of data governance is to maximize the value of data for the entire organization. This includes defining, documenting, and monitoring processes around data to achieve recurring, consistent results.
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What is data quality?

12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Data quality refers to the accuracy, completeness, integrity, and timeliness of data. It is a measure of the reliability and accuracy of the information contained in a data set. High data quality increases the reliability of decisions based on the data set.
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What is the median?

12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
The median is a central value of a data series that indicates where the middle of the data lies. The median is calculated by sorting the values in the series in ascending order and then selecting the value in the middle. The median can be a better indicator than the average because it is less influenced by extreme values.
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What is the Mann-Whitney test?

12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
The Mann-Whitney test is a nonparametric statistical test used to test whether two independent samples are from the same population. It is a variant of the significance test used to prove that two groups have different means without normalization. It is also called the Wilcoxon rank sum test
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