07 - Technology Flashcards
1
Q
What are the four types of data analytics?
A
Descriptive, diagnostic, predictive & prescriptive
2
Q
What is descriptive date analytics?
A
Analysis of the past to determine what happened, essentially a status update
3
Q
What is diagnostic analytics?
A
Looking at data to determine why something happened and whether it is a good or bad thing
4
Q
What is predictive analytics?
A
Create estimates on what will happen next or predicting future trends. Essentially a forecast. However this requires accurate date to preform.
5
Q
What is prescriptive analytics?
A
Using predictive analytics and making recommendations based on these estimates
6
Q
A
