Descriptive Models
Comprehensive Analysis of Market Trends
Key Insights from Sales Data Analysis
Optimize Business Decision Making
Support Data Analysis Efforts
Data Analysis for Customer Retention
Evaluate Operational Performance Indicators
Decision
Insights from Data 
Data Modeling: Applying statistical
models or machine learning algorithms to analyze the data and make predictions
...Type of Analysis Description Applications
Descriptive Analysis Summarizes historical data to understand what has happened
...
Comprehensive Analysis of Market Trends 1
Descriptive Analytics Descriptive analytics focuses on summarizing historical data to identify patterns and trends
...Simulation: Using
models to simulate different scenarios and their outcomes
...
Key Insights from Sales Data Analysis By leveraging
descriptive analytics techniques, businesses can extract valuable insights from their sales data, enabling them to make informed decisions
...Pricing Strategy: Analyzing the impact of pricing changes on sales can help optimize pricing
models ...
Optimize Business Decision Making Type of Analytics Description Purpose
Descriptive Analytics Analyzes historical data to understand what has happened in the past
...Predictive Analytics Uses statistical
models and machine learning techniques to forecast future outcomes
...
Support Data Analysis Efforts focuses on not only understanding past data but also providing actionable recommendations for future actions based on predictive
models and data-driven insights
...This process often includes:
Descriptive statistics Data visualization techniques Identifying trends and outliers Predictive Analytics Predictive analytics involves using statistical models and machine learning algorithms to forecast future outcomes based on historical data
...
Data Analysis for Customer Retention Descriptive Analytics Descriptive analytics involves summarizing historical data to identify patterns and trends
...Predictive Analytics Predictive analytics uses statistical
models and machine learning techniques to forecast future customer behavior
...
Evaluate Operational Performance Indicators Descriptive Analytics Descriptive analytics involves summarizing historical data to understand what has happened in the past
...Common techniques include: Machine learning
models Time series analysis Predictive modeling 4
...
Decision It is divided into three main categories:
Descriptive Analytics: Analyzes historical data to understand what has happened in the past
...Predictive Analytics: Uses statistical
models and machine learning techniques to forecast future outcomes based on historical data
...
Improving Customer Retention through Analytics context include: Type of Analytics Description Application in Retention
Descriptive Analytics Analyzes historical data to understand past behavior
...Predictive Analytics Uses statistical
models to forecast future behavior
...
Evaluating Data Trends Descriptive Analytics Descriptive analytics involves summarizing historical data to identify patterns and trends
...Predictive Analytics Predictive analytics uses statistical
models and machine learning techniques to forecast future trends based on historical data
...
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