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4 Types of Data Analytics

The document discusses four types of data analytics: diagnostic analytics which uses historical data to understand past events, descriptive analytics which provides context on historical data, predictive analytics which predicts future events based on patterns in historical data, and prescriptive analytics which provides recommendations for future actions.

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81 views7 pages

4 Types of Data Analytics

The document discusses four types of data analytics: diagnostic analytics which uses historical data to understand past events, descriptive analytics which provides context on historical data, predictive analytics which predicts future events based on patterns in historical data, and prescriptive analytics which provides recommendations for future actions.

Uploaded by

abhishekdayal138
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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School of core AI Presentation

(SCAI)

4 TYPES OF DATA ANALYTICS


www.schoolofcoreai.com
4 TYPES OF DATA ANLYTICS

DIAGNOSTIC ANALYTICS
Define, Techniques 01 03 PRESCRIPTIVE ANALYTICS
Define, Techniques

DESCRIPTIVE ANALYTICS
Define, Techniques 02 04 PREDICTIVE ANALYTICS
Define, Techniques
DIAGNOSTIC ANALYTICS
DEFINE
Diagnostic analytics is the process of using historical data and data analysis
techniques to understand past events, performance, and outcomes. Its primary
purpose is to identify the causes and factors that contributed to specific results or
events, helping organizations gain insights into their past performance. This type of
analytics is often the first step in the broader data analysis process and serves as a
foundation for making informed decisions and improvements.

Rooted in the past and based on Probiblitiy

TECHNIQUES
Principle Components Analysis, Sensitivity Analysis, Regression Analytics
DESCRIPTIVE ANALYTICS
DEFINE
Descriptive analytics is a crucial first step in the data analysis process,
providing the necessary context and baseline understanding before moving
on to more advanced analytical stages like diagnostic, predictive, and
prescriptive analytics. While it doesn't provide explanations for why certain
events occurred or make future predictions, it is valuable for tracking
progress, identifying trends, and gaining a clear perspective on historical
data.

Rooted in the past and Anchored by a set of Rules on


probability

TECHNIQUES
Metrics Reports, Data Mining & Aggregation Summary Statistics
PRESCRIPTIVE ANALYTICS
DEFINE
Prescriptive analytics is the advanced branch of data analytics that focuses on
providing specific recommendations and actionable insights to guide decision-
making. Unlike descriptive analytics (which summarizes past events) and diagnostic
analytics (which explains why something happened), prescriptive analytics goes a
step further by offering informed suggestions on what actions to take in the future. It
aims to optimize outcomes, solve problems, and improve processes by leveraging
data and mathematical models.

Looks to the Future and Anchored by a set of Rules

TECHNIQUES
Simulation Analysis, Artificial Intelligence, Neural Networks
PREDICTIVE ANALYTICS
DEFINE
Predictive analytics is a branch of data analytics that uses historical and
current data to make predictions about future events or outcomes. It
involves the application of statistical algorithms, machine learning
techniques, and data mining to identify patterns, trends, and relationships
within data. These patterns are then used to make informed forecasts or
predictions, allowing organizations to anticipate future trends and make
proactive decisions.
Looks to the Future and based on probability
TECHNIQUES
Quantitative Analysis, Predictive Modeling Machine, Learning Algorithms
Thank You!
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+91-9893978249

@schoolofcoreai

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