Data Analytics

Making Better Business
DecisionsUsing Data

Data Analytics

Data analytics is the science of analyzing raw data to make conclusions about that information, thus helping businesses to optimize their performance. A company can use data analytics to make better business decisions, analyze customer trends and satisfaction, thus leading to new and better products and services.

Data analytics is a broad field that encompasses many diverse types of data analysis. However, the four primary types are:

  • Descriptive
  • Diagnostic
  • Predictive
  • Prescriptive

Each type of data analytics has a distinct goal and unique place in the process of analyzing data.

Descriptive Analytics

Descriptive Analytics answers the question about what happened. Descriptive Analytics interprets the historical data to understand the changes that have occurred, obtaining a view of performance and trends that decision-makers can base their business strategy on. Businesses can also use this information to identify the areas of strength and weaknesses in their organization.

These various types of data analytics help businesses to optimize their operations and organization. Businesses can make improved decisions and make their operations more efficient.