long tail
The term "long tail" gained popularity through Chris Anderson's 2004 book and is used to describe phenomena in both business and statistics, often depicted as a hyperbolic curve.
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Definition
B2Business and Economics
(marketing, digital)A strategy of selling many niche products with low demand, which collectively generate significant revenue.
Example
- Online retailers often rely on the long tail by offering a wide range of niche products.
- The long tail allows small businesses to find profitability by targeting specialized markets.
C1Statistics and Probability
(technical, academic)The part of a distribution curve where rare or extreme values occur more frequently than expected.
Example
- In a long tail distribution, a few extreme events can have a significant impact on the overall data.
- The long tail in the data suggests that outliers play a crucial role in the observed trends.
Similar
Terms that have similar or relatively close meanings to "long tail":
tail endfat tailtail eventwhale taildragon's tailwhale's tailcomet tail