Descriptive Models
Improve Risk Assessment with Data
Creating Value from Business Analytics
Big Data Technology Trends
Driving Change through Data Analysis
Enhancing Financial Performance through Data
Reporting Analytics
Innovation Processes
Activities 
Key components of data exploration include:
Descriptive statistics to summarize data
...Data Modeling Data modeling involves creating mathematical
models to predict outcomes based on historical data
...
Improve Risk Assessment with Data Assessment Organizations can employ various analytical methods to process and interpret data for risk assessment:
Descriptive Analytics: Summarizes historical data to identify trends and patterns
...Predictive Analytics: Uses statistical
models to forecast future risks based on historical data
...
Creating Value from Business Analytics It is broadly categorized into three types:
Descriptive Analytics: This involves summarizing historical data to understand what has happened in the past
...Predictive Analytics: This uses statistical
models and machine learning techniques to forecast future events based on historical data
...
Big Data Technology Trends Types of Advanced Analytics:
Descriptive Analytics: Analyzes historical data to understand what happened
...Predictive Analytics: Uses statistical
models to predict future outcomes
...
Driving Change through Data Analysis Methodology Description Applications
Descriptive Analysis Summarizes historical data to identify trends and patterns
...Performance reviews, root cause analysis Predictive Analysis Uses statistical
models to forecast future outcomes based on historical data
...
Enhancing Financial Performance through Data types of analytics: Type of Analytics Description Example Use Case
Descriptive Analytics Analyzes historical data to understand past performance
...Advanced Modeling: Utilize algorithms and statistical
models to analyze data and generate insights
...
Reporting Analytics nature of the data and the intended audience: Type Description Purpose
Descriptive Reporting Summarizes historical data to provide insights into past performance
...Predictive Reporting Uses statistical
models and machine learning techniques to forecast future trends
...
Innovation Processes Prototyping Initial prototypes or
models are created to visualize the concept and test its functionality
...It goes beyond
descriptive analytics, which focuses on understanding past performance, and predictive analytics, which forecasts future outcomes
...
Big Data Analytics for Product Development Methodology Description Application in Product Development
Descriptive Analytics Analyzes historical data to understand what has happened
...Predictive Analytics Uses statistical
models to predict future outcomes
...
Data Insights Type of Insight Description Example
Descriptive Insights Summarizes historical data to understand what has happened
...Predictive Insights Uses statistical
models to forecast future outcomes based on historical data
...
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