What are calculated fields in the context of analytics?

Calculated fields in the context of analytics refer to custom fields that users create based on existing data. These fields are typically derived from other data fields and allow for more complex data manipulation and analysis. By employing formulas and functions, users can derive new insights from the data that are not immediately available in its raw form.

For instance, a calculated field might combine several numerical fields to create a new metric, such as calculating total sales from individual product sales. This capability is essential in analytics because it provides flexibility and enables users to conduct deeper analyses tailored to their specific needs, resulting in more informative and relevant insights.

The other options refer to different concepts within data management and analytics. Pre-defined fields fixed in the database are typically static and do not offer the flexibility of customization that calculated fields provide. Physical locations of data storage concern the infrastructure of where data lives, while standard templates used for reports refer to formats for presenting data rather than creating new derived data.