Examples of data analysis

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What are examples of Data Analysis?

  • Descriptive Analysis: Descriptive Analysis is the type of analysis of data that helps describe, show or summarize data points in a constructive way such that patterns might emerge that fulfill every condition of the data. It is one of the most important steps for conducting statistical data analysis
  • Diagnostic Analysis: Diagnostic analytics is a form of advanced analytics that examines data or content to answer the question, “Why did it happen?” It is characterized by techniques such as drill-down, data discovery, data mining and correlations.
  • Predictive Analysis: Predictive analytics is a branch of advanced analytics that makes predictions about future outcomes using historical data combined with statistical modeling, data mining techniques and machine learning. Companies employ predictive analytics to find patterns in this data to identify risks and opportunities.
  • Prescriptive Analysis: Prescriptive analytics is the use of advanced processes and tools to analyze data and content to recommend the optimal course of action or strategy moving forward.