“Unraveling Insights: The Power of Analytics in Today’s Data-Driven World”

Analytics is one of the most upcoming emerging roles in the field of data, where the task of data analytics is not only limited to creating dashboards or reports but ensuring the system from defect free or error-free. Keeping following this article to understand more about analytics.

In the world of data, there are main five kinds of analytics and no analytics is better than the other but complementary to each other.

Major five kinds of analytics are:

1. Descriptive Analytics: One of the most basic forms of analytics. Majorly used by 90% of organizations. The main focus area of descriptive analysis is “what has happened.”
2. Diagnostic Analytics: Analysis is done to find solutions to the problems that occurred or to determine the “why” behind what occurred.
3. Predictive Analytics: Analysis based on the probabilities. The main focus area of the predictive analysis is “what might happen in the future.”
4. Prescriptive Analytics: Analysis based on the outcome of predictive analysis. The main focus area of the prescriptive analysis is “what should a business do.”
5. Cognitive Analytics: Analysis based on machine learning, artificial intelligence, deep learning, and algorithm. The main focus area of the cognitive analysis is “to train data”.

For detailing of each analysis follow the below links:

https://www.projectpro.io/article/types-of-analytics-descriptive-predictive-prescriptive-analytics/209#:~:text=What%20are%20the%20four%20types,Diagnostic%2C%20Predictive%2C%20and%20Prescriptive.

The Differences Between Descriptive, Diagnostic, Predictive & Cognitive Analytics | Demand Planning…

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