Glossary.

A brief explanation of technical terms used in the analysis

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Paragraph Vector (doc2vec)

An extension of word2vec that learns to correlate not only words with words but also tags with words.

Platform-as-a-Service (PaaS)

A category of cloud computing that provides to the users the ability to create and run applications without the cost of building and maintaining the infrastructure.

Predictive analysis

We have used historical data on business activity by sector and principal area, together with data on educational levels and economic complexity to train a model which predicts the probability that a principal area will gain business specialisation in an industry. The model produces a probability for each industry between 0 and 1. We have classified sectors with a probability above 0.75 in a ‘high probability’ category, sectors above 0.5 in a ‘medium probability’ category, and sectors below 0.5 in a ‘low probability’ category.

Principal area

Our sub-national analysis focuses on 22 principal areas, an official geography that reflects local government structures in Wales.

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