There are four types of data analytics: descriptive, diagnostic, predictive and prescriptive. Each type serves a different purpose, and it’s important to know which type you need in order to get the most accurate insights from your data. Descriptive analytics is used to describe what has happened in the past, diagnostic analytics is used to … Read more
Prescriptive analytics is a relatively new field of analytics that is designed to help organizations improve their performance by providing decision support and recommendations for action. In other words, prescriptive analytics goes beyond just descriptive and predictive analytics by actually telling you what to do in order to improve your business. Why is prescriptive analytics … Read more
Business intelligence or business intelligence is a broad concept that refers to the technologies and practices used to manage, analyze and report business data such as financial metrics (sales, costs, profits) and key performance indicators (KPIs). ). Using BI enables organizations to make informed decisions by analyzing the past and projecting trends into the future. … Read more
