IBM Big Data Hub
SEPTEMBER 19, 2023
Though you may encounter the terms “data science” and “data analytics” being used interchangeably in conversations or online, they refer to two distinctly different concepts. Meanwhile, data analytics is the act of examining datasets to extract value and find answers to specific questions.
CIO Business Intelligence
JUNE 7, 2022
In business analytics, this is the purview of business intelligence (BI). Diagnostic analytics uses data (often generated via descriptive analytics) to discover the factors or reasons for past performance. In business, predictive analytics uses machine learning, business rules, and algorithms.
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FineReport
MARCH 24, 2024
Data analysts leverage four key types of analytics in their work: Prescriptive analytics: Advising on optimal actions in specific scenarios. Diagnostic analytics: Uncovering the reasons behind specific occurrences through pattern analysis.
BizAcuity
MARCH 31, 2022
AI can be applies to all 3 major types of analytics: Descriptive Analytics: The entire journey of the descriptive and diagnostic analytics process includes data extraction, data aggregation and data mining; 3 applications where AI is widely used to reduce costs, and eliminate complex actions.
Rocket-Powered Data Science
OCTOBER 6, 2023
There are other dimensions of analytics that tend to focus on hindsight for business reporting and causal analysis – these are descriptive and diagnostic analytics, respectively, which are primarily reactive applications, mostly explanatory and investigatory, not necessarily actionable. This is predictive power discovery.
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