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    This document provides definitions for terms used in an Excel analytics course, including correlation, DAX, ETL, fence, forecast, and Monte Carlo simulation. Correlation refers to the strength of a relationship between two variables. DAX is the formula language used in Excel's data model. ETL is an extract, transform, load process used in data analysis. A fence indicates how far out a value must be to be considered an outlier. Forecasting predicts future data based on historical trends. Monte Carlo simulation predicts outcome probabilities through repeated random sampling.

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    This document provides definitions for terms used in an Excel analytics course, including correlation, DAX, ETL, fence, forecast, and Monte Carlo simulation. Correlation refers to the strength of a relationship between two variables. DAX is the formula language used in Excel's data model. ETL is an extract, transform, load process used in data analysis. A fence indicates how far out a value must be to be considered an outlier. Forecasting predicts future data based on historical trends. Monte Carlo simulation predicts outcome probabilities through repeated random sampling.

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    11 views1 page

    Glossary ExcelAnalytics Tips

    Uploaded by

    wan nur anisah
    This document provides definitions for terms used in an Excel analytics course, including correlation, DAX, ETL, fence, forecast, and Monte Carlo simulation. Correlation refers to the strength of a relationship between two variables. DAX is the formula language used in Excel's data model. ETL is an extract, transform, load process used in data analysis. A fence indicates how far out a value must be to be considered an outlier. Forecasting predicts future data based on historical trends. Monte Carlo simulation predicts outcome probabilities through repeated random sampling.

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    GLOSSARY

    Excel: Analytics Tips


    With Chris Dutton

    Use these terms and definitions below to understand concepts taught in the course.

    Transcript Search: note that you can search for terms directly within the course. To search video text, switch to
    the Transcripts tab, then press Cmd/Ctrl + F on your keyboard to run a search within the active transcript.

    Term Definition

    correlation A statistical measure representing the strength of a relationship


    between two variables

    DAX Data Analysis Expression, a formula language used in Excel’s data


    model

    ETL An extract, transform, load process used in data analysis

    fence A statistical measure that indicates how far out of the norm a value
    must be to call it an outlier

    forecast Predicting future data based on historical data and its trends

    Monte Carlo An analytical method used to predict the probability of an outcome


    simulation based on repeated random sampling

    LinkedIn Learning and Lynda.com are registered trademarks of LinkedIn Corporation. All rights reserved, 2019.

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