The meaning of Baal-zephon in the Bible
(From International Standard Bible Encyclopedia)

ba-al-ze'-fon ba'al tsephon; Beelsepphon; Exodus 14:2, Exodus 14:9; Numbers 33:7): The name means "Lord of the North," and the place was opposite the Hebrew camp, which was between Migdol and the sea. It may have been the shrine of a Semitic deity, but the position is unknown (see EXODUS). Goodwin (see Brugsch, Hist. Egt., II, 363) found the name Baali-Zapuna as that of a god mentioned in an Egyptian papyrus in the British Museum.

See more on the meaning of Baal-zephon in the Bible:
Baal-zephon {Easton's Bible Dictionary}
Baal-zephon {Hitchcock's Bible Name}

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