Descriptive Analytics is the examination of data or content, usually manually performed, to answer the question “What happened?” (or What is happening?), characterized by traditional business intelligence (BI) and visualizations such as pie charts, bar
The meaning of DESCRIPTIVE is presenting observations about the characteristics of someone or something : serving to describe. How to use descriptive in a sentence.
The meaning of DESCRIPTIVE is presenting observations about the characteristics of someone or something : serving to describe. How to use descriptive in a sentence.
Predictive analyticsattempts to answer the question “What will happen next?” This process uses historical data to create an understanding of the existing trends and impacts, then predict what will happen in the future. The understanding of how trends impact results enables us to evaluate the like...
Financial analytics Traditionally, financial analytics was used for generating a standard set of reports. But now that finance has taken on a more strategic role with the business, financial analytics has evolved – combining financial and operational data with external data sources to address a wide...
Prescriptive analytics is a type of data analytics that provides guidance on what should happen next. Prescriptive analytics is related to descriptive, diagnostic andpredictive analytics.Descriptive analyticsaims to provide insight into what has happened;diagnostic analyticsidentifies why it happened; andpred...
1. Descriptive analytics Descriptive analytics enables organizations to understand their past. It gathers and visualizes historical data to answer such questions as “what happened?” and “how many?” This gives enterprise users a way to measure the result of decisions that hav...
Types of data analytics Data analytics can be divided into the following four types: Descriptive analytics.Using historical data analysis, descriptive analytics aims to comprehend past events. It entails compiling data, identifying patterns and gaining insights into or learning from past events. ...
available resources, past performance, and current performance, and suggests a course of action or strategy. It can be used to make decisions on anytime horizon, from immediate to long-term. It is the opposite of descriptive analytics, which examines decisions and outcomes after the fact. ...
conclusions as to how changes in the underlying processes that generate the data will change the results. Predictive models build on these descriptive models and look at past data to determine the likelihood of certain future outcomes, given current conditions or a set of expected future conditions...