[ Eps. 08] Types Of Big Data Analytics

Convert raw data into profitable business decisions.

Your business most certainly has a mine of under-utilized data. Now imagine having all that data organized and archived in a simple presentable format, couple that with smart computing and you have everything you need to make calculated and informed business decisions.

There are four types of data analytics systems that being used in business.

1. Descriptive Analysis, Diagnostic Analysis, Predictive Analysis and Prescriptive Analysis. Descriptive data analysis looks at past data and allows us to see changes affecting a business

2. Diagnostic data analysis aims to determine why something happened. Once your descriptive analysis highlights change in a business, diagnostic analysis can be used to decipher the cause of that change.

3. Predictive data analysis predicts likely future scenarios. In this type of analysis, trends are derived from past data, which are then used to predict the outcome of business decisions.

4.Prescriptive data analysis combines the information found from the previous 3 types of data analysis and forms a plan of action for the organization to face issues or decisions.

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