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Classification of Big Data Analytics

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28 views13 pages

Classification of Big Data Analytics

Uploaded by

santhosh02anandhan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Classification of Analytics

in Big Data
Meaning of Analytics in Big Data

Big data analytics is the process of collecting, examining, and analysing large
amounts of data to discover market trends, insights, and patterns that can
help companies make better business decisions.

It is a powerful tool that can be used in a variety of industries, including


business, healthcare and government.
It's Classifications:-

1. Descriptive analytics

2. Diagnostic analytics

3. Predictive analytics

4. Prescriptive analytics

5. Cognitive analytics
1. Descriptive Analytics

Descriptive analytics is the most basic type of data analytics. It is used to


describe what has happened in the past. It does not try to predict the future or
explain why things happened. Instead, it simply summarizes the data and
identifies trends and patterns.

Descriptive analytics can be used to identify areas where improvement is


needed.
Descriptive analytics can be used to answer questions
such as:
What are the sales figures for the past
month?

What are the most popular products?

What are the demographics of our


customers?

What are the trends in customer behavior?


2. Diagnostic analytics

Diagnostic analytics helps businesses understand why things happened.


It is used to identify causes of problems and opportunities. Diagnostic
analytics is typically used after descriptive analytics has been used to
identify trends and patterns in data.

Diagnostic analytics can be used to identify the root causes of problems,


which can then be addressed to improve performance.
Diagnostic analytics can be used to answer questions such
as:

Why did sales decline last quarter?

Why are customers churning?

Why are there so many defects in our products?

Why are we not meeting our goals?


3. Predictive analytics

Predictive analytics can be used to make predictions about future sales,


customer behavior and other events. It is typically used after descriptive
analytics and diagnostic analytics have been used to understand the past
and identify the causes of problems.

Predictive modeling techniques use statistical models. These models are


trained on historical data to identify patterns and trends. The models can
then be used to predict future events by applying the patterns and trends to
new data.
Predictive analytics can be used to answer questions
such as:

What are the chances of a customer churning?

When will a customer make a purchase?

Which products are likely to be popular next year?

Which customers are likely to respond to a marketing campaign


4. Prescriptive analytics

Prescriptive analytics is a type of data analytics that recommends actions


that businesses should take. It is used to optimize business decisions and
processes. Prescriptive analytics is the most advanced type of data
analytics and is typically used after descriptive analytics, diagnostic
analytics and predictive analytics have been used to understand the past,
identify the causes of problems, and predict future events.

Prescriptive data analytics can be used to recommend actions by using


mathematical models and algorithms. These models are trained on
historical data to identify patterns and trends.
Prescriptive analytics can be used to answer questions
such as:

What should we do to increase sales?

How can we improve customer satisfaction?

What are the best marketing channels to use?

How can we reduce costs?


5. Cognitive analytics

Cognitive analytics is a type of data analytics that uses artificial


intelligence (AI) and machine learning to understand and interpret data. It
is often described as a way of “thinking like a human” when analyzing
data.

Cognitive analytics is still a relatively new field, but it is quickly gaining


popularity as businesses realize the potential benefits it can offer.
Cognitive computing can be used to answer questions
such as:

What are the most important factors that influence customer churn?

What are the most likely causes of a machine breakdown?

What are the best marketing channels to reach our target audience?

What are the risks involved in this investment?

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