In the today's world increasingly becoming dependent on information and gathering statistics, data analytics helps both individuals and organizations make sure of their data. A set of raw numbers can be converted into informative, educational insights that help companies make right decisions with the techniques of data analytics. Visit https://www.analyzeandimprove.com/data-driven-analytics for more.

1. TYPES &
TECHNIQUES OF
DATA ANALYTICS

2. Data Analytics is the process of studying raw data to make
conclusions about that information. It helps a firm optimize its
performance, perform more efficiently, achieve optimum profit,
or take more strategically-guided decisions.

3. Data analytics is of four types,
such as:
Types of
Data Analytics

4. 2. Diagnostic
analytics
1. Descriptive
analytics
It focuses more on the reasons
of something which has
happened. It takes on more
diverse data inputs.
It describes what has happened in a
specific period of time. With it, one
can compare the sales in the month
with the previous.

5. 4. Prescriptive
analytics
3. Predictive
analytics
It suggests a course of action.
By considering all related
factors, such analysis offers
recommendations for next
steps.
This helps to predict what will happen
in the near term. With the analytics,
one can imagine the number of
weather models assume a hot
summer this year.

6. Different analytical methods and
techniques are used to process
data and extract information.
Let's discuss a few data analytics
techniques now.
Techniques of
Data Analytics

7. The method finds the relationship
between two or more dependent
variables to define how a change
in one affects the change in
another.
The technique is used to reduce a large
number of variables into fewer
numbers of factors. The goal is to find
out the hidden trends that would
otherwise have been tougher to see.
Regression
analysis
Factor
analysis

8. The process breaks the data in a
data set into related groups
before analysis to check common
characteristics among them
within a specific time-span.
The model is used to guess the
probability of varied outcomes when
the potential for random variables is
present.
Cohort
analysis
Monte Carlo
simulations

9. Data analytics helps businesses optimize their
performances. Implementing it into the business model
means organizations can help minimize costs by identifying
more efficient ways of doing business. Also a company can
use data analytics to take better business decisions and
help analyze customer trends and satisfaction leading to
new and better products and services.
Conclusion

10. Thank You
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