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Four Types Of Data Analytics You Should Know
The term Data Analytics has gained a huge prominence in the present age of data revolution. Most of the present days revolutionary technologies like Data, Science, Artificial Intelligence, and Machine Learning & Deep Learning are all a part of analytics domain. Analyzing the data will help in delivering numerous benefits like prescriptive results, predictive data, diagnostic data, and descriptive data.
By leveraging a clear knowledge of the tools that are extensively used by Data Scientists & also by building knowledge of basic analytics can help to deliver some extremely valuable insights when it comes to the future. And if you are an analytics career enthusiast then having knowledge of different types of Data Analytics is a must. If you aren’t sure about it then don’t worry, by the time you finish reading this post you will acquire clear knowledge in relation in this regard.
In this blog post we will be explaining you different types of Data Analytics
- Descriptive Analytics
Descriptive analysis is one among the most commonly used form of data analysis. Most of the complex analytics tasks like finding out profit and loss management to producing visualization tools can be handled quite easily by analysts by making use of Descriptive Analysis
- Diagnostic Analytics
Descriptive Analytics is a concept that deals with the process of summarizing and reporting data. This is about understanding what is currently happening or what has already happened. Businesses can use descriptive analytics, especially those that are just initiating analytics of various data produced internally. With Diagnostic Analytics it becomes easy for the analysts to produce outcomes of great precision with time-sensitive data or even complex data filters.
- Predictive Analytics
One among the crucial aspects in the concept of analytics is forecasting for the future & predicting the possibility of occurrence of an event from a set of events. By accurately predicting the outcomes it becomes easier to take better decisions, and predictive models can be utilized across many fields in software development.
- Prescriptive Analytics
Prescriptive Analytics is extensively used in the area of business analytics. With the help of prescriptive analytics it becomes easy for the analysts to find the best course of action for a given situation.
Get to know more about such interesting aspects in the analytics domain by being a part of the Kelly Technologies Data Science Training In Hyderabad.
Kumar Raja is a multidisciplinary writer, and lifelong learner. He’s a Digital Marketer in the making who spends his time analyzing the developments in the tech world. He’s very passionate about helping people understand the latest trends in the tech world through his well-researched articles. He’s able to condense complicated information about the latest technologies into easily digestible articles.