What is defined as the use of statistical and computational methods to extract meaningful insights from data?

The concept addressed in the question focuses on the techniques and methodologies employed to derive insights from data through statistical and computational means. The term that describes this process comprehensively is analytics. Analytics involves various approaches, including data mining and statistical analysis, to interpret large sets of data and derive valuable insights that can inform decision-making and strategy.

Data mining, while related, is more specifically about discovering patterns and relationships in large datasets, emphasizing the extraction aspect. Big data processing refers to managing and analyzing extremely large datasets, often involving distributed computing technologies, but does not specifically highlight the extraction of insights. Information retrieval is centered on accessing and retrieving relevant information from databases or collections, but it does not necessarily involve statistical or computational analysis of data in the same way that analytics does.

Overall, analytics encompasses a wider range of activities that include processing, analyzing, and interpreting data to uncover trends, correlations, and actionable strategies.