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Glossary / Lexicon

What is Shopware?

04/27/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Shopware is a German e-commerce platform that helps businesses create and operate online stores. The software offers a wide range of features that enable online retailers to easily manage their products, optimize their sales strategies, and provide their customers with a seamless shopping experience.

Shopware is especially known for its high flexibility and customizability. There are a large number of plugins and extensions that allow users to extend and customize the platform according to their needs. In addition, Shopware is open source software, which means that the source code is available for anyone who wants to use or modify it.

Shopware is very popular in the German e-commerce industry and is used by many well-known brands and companies. The platform offers a free community edition as well as several paid editions with advanced features and support.

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What are sales objectives?

04/18/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Sales targets are goals or objectives that a company sets for its sales department. These goals are used to promote the sale of products or services and to increase sales. Sales goals can include, for example, the number of products sold, revenue, market share, customer satisfaction, or the number of new customers.

It is important to establish clear and measurable sales goals to ensure that salespeople are working toward the same goals and supporting the company's sales strategy. Setting sales goals also helps to measure the performance of the sales department and the success of the company's sales strategy.

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What is a press service?

04/18/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A press service (also called a press agency) is a company or organization that collects, processes and distributes news and information. Press services work as an intermediary between news sources and the media (such as newspapers, magazines, television, radio, online media, etc.), providing news and background information to journalists.

Press services source and produce news on various topics such as politics, business, culture, sports and other areas. They then publish these news items on their own platforms or distribute them to various media houses. The main purpose of press services is to provide effective and fast information transmission to ensure that relevant news and information reaches the media and audience quickly and reliably.

Some of the best-known press services are the Associated Press (AP), Reuters, Agence France-Presse (AFP) and dpa.

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What is Mathematical Optimization?

04/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Mathematical optimization is the process of finding the best solution to a problem, often under some constraints. It involves identifying the variables and objective function that describe the problem, specifying the constraints that the solution must satisfy, and then finding the values of the variables that optimize the objective function subject to the constraints.

Optimization problems can be classified into two main types: linear and nonlinear. In linear optimization, the objective function and the constraints are all linear functions of the variables, and the solution can be found using techniques such as linear programming. In nonlinear optimization, the objective function and/or the constraints are nonlinear, and more advanced techniques such as gradient descent or Newton's method may be required to find the optimal solution.

Optimization is used in a wide range of fields, including engineering, economics, finance, and operations research. Some common applications include portfolio optimization, scheduling and routing problems, and machine learning, among others.

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What is a data mart?

04/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A data mart is a part of a data warehousing system and refers to a specific subset of data relevant to a particular business unit or department within an organization. Unlike the comprehensive data warehouse, which contains all of the organization's data, a data mart is tailored to specific needs and requirements and contains only the data relevant to a particular group of users.

A data mart is typically smaller than a data warehouse and can be implemented more quickly and at a lower cost. It can also be more flexible because it is tailored to specific requirements, making it easier to customize. Data marts can also operate independently, allowing users to access the data that is relevant to them without having to search the entire data warehouse.

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