DataRobot Blog

APRIL 11, 2019

Where descriptive analytics reveals what has happened in the past, prescriptive analytics delivers insight into optimizing future decisions. As data-driven organizations mature, they will begin to apply prescriptive analytics. by Jen Underwood. Read More.

Prescriptive Analytics 73

Prescriptive Analytics Analytics Descriptive Analytics Data-driven 73

TreehouseTechGroup

AUGUST 11, 2020

Most organizations start their analytics journey by asking ‘what has happened’. The business analytics technique that answers this question is called descriptive analytics as it provides a. The post Top 4 Business Analytics Techniques Companies Need to Adopt appeared first on Treehouse Tech Group.

Business Analytics 52

Business Analytics Descriptive Analytics Analytics IT 52

TreehouseTechGroup

AUGUST 11, 2020

Most organizations start their analytics journey by asking ‘what has happened’. The business analytics technique that answers this question is called descriptive analytics as it provides a… The post Top 4 Business Analytics Techniques Companies Need to Adopt appeared first on Treehouse Tech Group.

Business Analytics 52

Business Analytics Descriptive Analytics Analytics IT 52

Cloudera

SEPTEMBER 22, 2022

The next step leads to performing exploratory, descriptive analytics, “why is this happening,” and so on. Finally, the end goal is to enable proactive, predictive analytics — “what if” — using applied ML and AI to better predict what will happen and recommend actions to prevent or manage activities as necessary.

Analytics 96

Analytics Insurance IoT Risk 96

IBM Big Data Hub

JULY 27, 2022

The AIOps engine is focused on addressing four key things: Descriptive analytics to show what happened in an environment. Predictive analytics to show what will happen next. Prescriptive analytics to show how to achieve or prevent the prediction. Diagnostics to show why it happened.

Prescriptive Analytics 93

Prescriptive Analytics Descriptive Analytics Data-driven Digital Transformation 93

Smart Data Collective

MARCH 29, 2021

Predictive analytics includes several different approaches , including forecasting and regression analysis, and is one of three major levels at which businesses can engage with data; the other two are descriptive and prescriptive. In recent years, though, there’s been significant growth in the use of predictive analytics.

Marketing 119

Marketing Metrics Descriptive Analytics Predictive Analytics 119

Smart Data Collective

DECEMBER 19, 2021

In such cases, data analysts run the descriptive analytics to find out, and Python comes into the business. Decision-making requires proper data analysis, and Python provides the results after using its vivid functionalities like data analytics, numerical computation, scientific computation, statistical analysis, and many more.

Optimization 132

Optimization Machine Learning Data mining Statistics 132

BizAcuity

AUGUST 26, 2019

The need for prescriptive analytics. Prescriptive analytics is the area of business analytics (BA) dedicated to finding the best course of action for a given situation.

Prescriptive Analytics 74

Prescriptive Analytics Analytics Descriptive Analytics Predictive Analytics 74

O'Reilly on Data

OCTOBER 16, 2018

As BI evolves from traditional reporting and descriptive analytics toward data science and AI, many practitioners fear that new capabilities will make their skill sets obsolete.Fighting new initiatives is, perhaps, a natural preservation instinct.

Business Intelligence 148

Business Intelligence Data Science Descriptive Analytics Strategy 148

Cloudera

MARCH 2, 2018

Gain improved intelligence on operating context and needs through expanded use of descriptive analytics techniques. In a next step, the broader adoption of data analysis techniques and tools has the potential to help nonprofits increase their programmatic impact as well as identify completely new ways of achieving their mission.

Data-driven 42

Data-driven Prescriptive Analytics Descriptive Analytics Machine Learning 42

BizAcuity

AUGUST 26, 2019

The need for prescriptive analytics. Prescriptive analytics is the area of business analytics (BA) dedicated to finding the best course of action for a given situation.

Prescriptive Analytics 40

Prescriptive Analytics Analytics Descriptive Analytics Predictive Analytics 40

Business Over Broadway

MARCH 13, 2019

For our example, to answer our questions, we need to look at two types of analytics: 1) Descriptive and 2) Predictive. Descriptive analytics are used to indicate the current state of the world. The next step is to analyze the data. The level of satisfaction is indexed by a summary statistic.

Statistics 78

Statistics Measurement Descriptive Analytics Machine Learning 78

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. Descriptive analytics: Assessing historical trends, such as sales and revenue.

Statistics 52

Statistics Data mining Visualization Reporting 52

Alation

NOVEMBER 28, 2022

Spreadsheets dominate the activities of gathering and preparing data, and performing descriptive analytics. Or they don’t have the technical skill to extract, cleanse, or transform data they need. Spreadsheets are dark matter. However, time spent in spreadsheets is often ineffective.

Descriptive Analytics 52

Descriptive Analytics Risk Sales Data-driven 52

CIO Business Intelligence

MARCH 27, 2024

Nella Pubblica amministrazione c’è un ulteriore parametro che entra nella data governance: la maturità sugli open data.

Data Governance 52

Data Governance Data Lake Data Strategy Business Intelligence 52

Sisense

SEPTEMBER 12, 2019

Originating with Gartner, this chart includes the analytic features needed for a full analytics strategy, and what our AI team believe to be the absolute future of analytics – Cognitive Analytics. . In order to know where to go, you must first find yourself on this chart.

Strategy 81

Strategy Diagnostic Analytics Dashboards Prescriptive Analytics 81

FineReport

APRIL 26, 2023

The Big Data ecosystem is rapidly evolving, offering various analytical approaches to support different functions within a business. Descriptive Analytics is used to determine “what happened and why.” ” This type of Analytics includes traditional query and reporting settings with scorecards and dashboards.

Big Data 52

Big Data Data Analytics Analytics Cost-Benefit 52

CIO Business Intelligence

JANUARY 20, 2023

Business intelligence vs. business analytics Business analytics and BI serve similar purposes and are often used as interchangeable terms, but BI should be considered a subset of business analytics. Whereas BI studies historical data to guide business decision-making, business analytics is about looking forward.

Business Intelligence 143

Business Intelligence Dashboards Data mining OLAP 143

datapine

MARCH 25, 2022

While BI tells you what has happened in the past and what is happening now (descriptive analytics), BA tells you what will happen in the future (predictive analytics). Descriptive analytics : As its name suggests, this analysis method is used to describe and summarize the main characteristics found on a dataset.

Business Intelligence 264

Business Intelligence Analytics Dashboards Statistics 264

Smarten

NOVEMBER 26, 2023

This approach typically focuses on descriptive analytics based on historical data to answer the question “What happened?” or What is happening?

Marketing 40

Marketing Business Intelligence Key Performance Indicator Prescriptive Analytics 40

Smart Data Collective

MARCH 11, 2022

Below are the different types of customer service analytics and why they matter to your business. Customer Experience Analytics. Customer experience analytics can help you make more money. CX analytics is a type of descriptive analytics in which “what happened” during the customer journey is asked.

Customer Analytics 113

Customer Analytics Analytics Key Performance Indicator Big Data 113

CIO Business Intelligence

OCTOBER 10, 2022

Shifting descriptive analytics to predictive analytics is a huge undertaking for most companies in their digital transformation. With enterprise-wide planning, we built a simulation platform to establish confidence in our predictions and ensure a smooth transition to predictive steering,” said Jochen Moelber, CIO of FHCS. .

Enterprise 52

Enterprise Forecasting Descriptive Analytics Digital Transformation 52

Sisense

JUNE 30, 2020

Analytics acts as the source for data visualization and contributes to the health of any organization by identifying underlying models and patterns and predicting needs. Broadly, there are three types of analytics: descriptive , prescriptive , and predictive. Visualizations: past, present, and future.

Visualization 93

Visualization Analytics Dashboards Data-driven 93

BizAcuity

MARCH 31, 2022

Artificial Intelligence Analytics. 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.

Data Analytics 52

Data Analytics Analytics Prescriptive Analytics Predictive Analytics 52

Decision Management Solutions

AUGUST 18, 2020

We often walk clients up a simple analytic sophistication curve: Model an operational decision and automate it using business rules based on policies, regulations and best practices. Apply simple descriptive analytics to identify means, standard deviations and trends that you can encode in your rules.

Machine Learning 88

Machine Learning Data-driven Descriptive Analytics Predictive Analytics 88

Domino Data Lab

JANUARY 21, 2021

It’s worth noting that there is a landscape of proprietary tools dedicated to producing descriptive analytics in the name of business intelligence. Additionally, the Python ecosystem is flush with open source development projects that maintain the language’s relevancy in the face of new techniques in the field of data science.

Statistics 106

Statistics Unstructured Data Data Science Predictive Modeling 106

Grooper

AUGUST 19, 2019

Once we have right data, we do some descriptive analytics which tells us column’s mean, median, mode, standard deviation, variance, bias, some skewness – how the data is spread. The data scientist does this. First, we have the data. We’ve cleaned, transformed, reduced, consolidated and put the data into right form.

Machine Learning 40

Machine Learning Metrics Descriptive Analytics Testing 40

Domino Data Lab

JUNE 2, 2019

Working through distinctions of descriptive analytics , predictive analytics , and prescriptive analytics , Chris recounted several stories about how managers had requested one kind of deliverable from the data science while needing something entirely different.

Data-driven 110

Data-driven Data Science Machine Learning Modeling 110

Rocket-Powered Data Science

OCTOBER 6, 2023

Cognitive analytics is basically the opposite of descriptive analytics. In descriptive analytics, the task is to find answers to predetermined business questions (how much, how many, how often, who, where, when), whereas cognitive analytics is tasked with finding the business questions that should be asked.

Business Analytics 157

Business Analytics Prescriptive Analytics Analytics Diagnostic Analytics 157

datapine

JANUARY 31, 2022

Business intelligence can also be referred to as “descriptive analytics”, as it only shows past and current state: it doesn’t say what to do, but what is or was. BI users analyze and present data in the form of dashboards and various types of reports to visualize complex information in an easier, more approachable way.

Business Intelligence 214

Business Intelligence Analytics Cost-Benefit ROI 214

Sisense

JULY 23, 2021

Descriptive analytics also help them understand the number of athletes and workers required to support that specific competition or sport. “We get access, post-Games, to the ticket data to analyze any patterns in terms of incidents and responses.”.

Unstructured Data 105

Unstructured Data Internet of Things Data-driven Data Processing 105

Jet Global

MAY 1, 2023

Predictive, the Up but Not Coming Over time, analytics grow and level up. Leading research and consultancy company, Gartner describes the path that businesses take as they move to higher levels: Descriptive Analytics: Describe what happened (e.g., Diagnostic Analytics: No longer just describing.

Analytics 52

Analytics Cost-Benefit Visualization Dashboards 52