The closest word for "G-d" in Hebrew is either, E-L or ELo-HIM.
E-L relates to might as in Ex. 15:11 "Who is like You among the mighty (ELIM, plural of EL)".
Among other explanations for the name ELo-HIM that I have seen, the one that I understand is that it relates to ruler-ship (
Kuzari Essay 4, Abarbanel 1:1).
Hence the Canaanite pantheon all refer to gods that rule over various elements of nature (per their names). The Jewish G-d is understood to be the ruler of everything and is therefore also called ELo-HIM.