Types of data analytics

There are different types of data analytics that offer different relevance to our business.

Descriptive Analytics: This type of analytics helps answer questions about what has happened based on historical data. Summarizes large datasets to debase outcomes to stakeholders. Descriptive analytics is used by 90% of enterprises worldwide. It is the most straightforward form of analytics that enables you to reduce huge data into more manageable pieces to provide sharper insights. Today, it is a frequently used technique to extract crucial information from websites and platforms for social and detailed media. Businesses can understand the inner context and causes of previous success or failure by utilizing descriptive analytics.

Diagnostic Analytics: This helps answer questions about why events happened. It identifies anomalies in data, collects data related to anomalies, and uses statistical techniques to discover relationships and trends that explain these anomalies. The second type of data analytics, known as diagnostic analytics, assists businesses in resolving pressing problems by determining why something is happening and its underlying causes. When a company uses business intelligence dashboards, diagnostic analytics can be used to dig deeper into the data and identify the causes or influences that have an impact on the company. Businesses may uncover relationships and the architecture of the data to quickly compare and create the most reliable data-based decision model by combining diagnostic and descriptive analytics. 

To be continued...