COGS stands for “Cost of Goods Sold“, and is an accounting term used to denote the direct costs associated with producing a specific good or service. This cost includes the purchase price of materials, labor costs such as wages, and any other direct expenses related to the production of the item or service in question. …
Data mining is the process of extracting useful information and patterns from large datasets. It is a subset of machine learning and artificial intelligence, where algorithms are used to discover patterns in data that can be used to make decisions and predictions. Data mining is a way to gain insights from structured and unstructured data …
Big Data is a term that refers to the large amount of data that is collected, stored and analyzed by organizations, companies and individuals in order to gain insights into trends, patterns and behavior. It differs from “traditional” data in its sheer volume and velocity; traditional methods of processing such datasets are insufficient. Big Data …
Balanced Scorecards are a performance measurement tool used by organizations to monitor and assess their success in achieving the established goals and objectives. This strategic management system emphasizes the importance of both financial and non-financial metrics as part of an organization’s strategy. Balanced Scorecards can involve detailed measurements that span over a variety of areas …
Chargeback is a transaction reversal initiated by the cardholder or issuing bank in response to a dispute. It is a method of consumer protection that allows cardholders to recoup their money from transactions that have not gone according to plan. Chargebacks are different than refunds, as refunds are initiated by the merchant, whereas chargebacks can …
ROI, or Return on Investment, is a metric used to measure the profitability of an investment. It expresses the gain or loss of an investment relative to the original cost. ROI can provide a helpful indication of how effective an organization’s investments are in terms of generating revenue and increasing growth. Formula: (Gain from Investment …
