The four types of Business Analytics are descriptive, diagnostic, predictive, and prescriptive. Students can check the table below for the types and how these types help:
Types of Business Analytics | How it helps |
|---|---|
Descriptive Analytics | Analyze historical data to understand past trends and patterns |
Diagnostic Analytics | Helps to find the root causes of outcomes or problems |
Predictive Analytics | Predicts future outcomes using statistical models and machine learning |
Prescriptive Analytics | Suggests actions based on data, predictions, and optimization models |
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