Analytics Types

Question 1

Analytics Types

Answer 1

Descriptive
Diagnostic
Predictive
Prescriptive

Question 2

Descriptive

Answer 2

Bases on Live Data, Tells what’s happening in real time. Accurate and handy for operations management

Question 3

Diagnostic

Answer 3

Automated RCS - Root Cause Analysis, Explains why things are happening. Helps trouble shoot issues

Question 4

Predictive

Answer 4

Based on historical data, and assumes a static business plans/models, Tells what’s likely to happen. Helps business decisions to be automated using algorithms

Question 5

Prescriptive

Answer 5

Based on current data analytics, predefined future plans, goals, and objectives. Define future actions what to do next. Advanced algorithms to test potential outcomes of each decision and recommends the best course of action