|
Data analytics is categorized into four main types, each serving a distinct purpose in analyzing and interpreting data.
1. Descriptive Analytics - Purpose: Summarizes past data to identify patterns and trends. A business reviews last year’s sales data to determine which products performed best.
2. Diagnostic Analytics - Purpose: Explains why something happened by analyzing relationships within data. A company investigates a sudden drop in website traffic by looking at factors like SEO changes or competitor activity.
3. Predictive Analytics - Purpose: Uses historical data and statistical models to forecast future outcomes. An e-commerce site predicts customer purchase behavior based on previous shopping trends.
4. Prescriptive Analytics - Purpose: Recommends the best course of action based on data-driven insights. A healthcare provider suggests personalized treatments using AI-driven medical data analysis.
Phone - +65 66018888
Address - Block AS8, 10 Kent Ridge Crescent, #03-01 Singapore 119260
|