Data analytics assignment help

Posted by william smith on March 9th, 2020

Data analytics is the science of analyzing raw data in order to make conclusions about that information . many of the techniques and processes of data analytics have been automated into mechanical processes and algorithms that work over raw data for human consumption. Data analytics techniques can reveal tends and metrics that would otherwise be lost in the mass of information. This information can then be used to optimize processes to increase the overall efficiency of a business or system.

Types of data analytics

Data analytics is broken down into four basic types.

1. Descriptive Analytics – Descriptive analytics describe what has happened over a given period of time . As the name implies, descriptive analysis or statistics can summarize raw data and convert it into a form that can be easily understood by humans. it is the foundation of all data insight. it is the simplest and most common use of data in the business world today. Descriptive analysis answers the “ what happened “ by summarizing past data, usually in the form of dashboards.

2. Diagnostic Analytics – Diagnostic analytics focuses more on why something happened. This involves more diverse data inputs and a bit of hypothesizing. it mainly focuses on past performance to determine what happened and why. The result of the analysis is often an analytic dashboard. Diagnostic analytical tools aid analyst to dig deeper into an issue at hand so that they can arrive at the source of a platform.

3. Predictive Analytics – Predictive analytics moves to what is likely going to happen in the near term. Predictive analytics helps businesses to forecast trends based on the current events. Whether it’s predicting of an event happening in future or estimating the accurate time it will happen can all be determined with the help of predictive analytical models. What happened to sales the last time we had a hot summer? how many weather models predict a hot summer this year?

4. Prescriptive Analytics – Prescriptive analytics suggests a course of action. This type of analytics explains the step – by – step process in a situation. Prescriptive analysis is the frontier of data analysis, combining the insight from all previous analyses to determine the course of action to take in a current problem or decision. Each of these types of data analysis are connected and rely on each other to a certain degree. They each serve a different purpose and provide varying insights.

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