Lexolino Expression:

Descriptive Models

 Site 28

Descriptive Models

Evaluating Operational Efficiency Metrics Enhance Customer Experience through Data Analytics Data Analysis Basics Improving Employee Productivity with Insights Capabilities Analyze Market Trends Insights Application





Maximize Business Impact 1
effective branches of business analytics is prescriptive analytics, which provides recommendations for actions based on predictive models and optimization techniques ...
Some common techniques include: Descriptive Analysis: Summarizing historical data to understand past performance ...

Evaluating Operational Efficiency Metrics 2
Techniques include: Descriptive Analytics: This involves summarizing historical data to understand past performance ...
Predictive Analytics: Using statistical models to forecast future performance based on historical data ...

Enhance Customer Experience through Data Analytics 3
It can be broadly classified into three categories: Descriptive Analytics: Focuses on summarizing historical data to understand what has happened ...
Predictive Analytics: Uses statistical models and machine learning techniques to forecast future outcomes based on historical data ...

Data Analysis Basics 4
purposes: Type of Data Analysis Description Descriptive Analysis Summarizes historical data to identify trends and patterns ...
Predictive Analysis Uses statistical models and machine learning techniques to predict future outcomes ...

Improving Employee Productivity with Insights 5
Type Description Use Cases Descriptive Analytics Analyzes historical data to understand what happened in the past ...
reports, employee turnover analysis Predictive Analytics Uses statistical models to predict future outcomes based on historical data ...

Capabilities 6
Techniques used in prescriptive analytics include: Optimization Models Simulation Models Decision Analysis 7 ...
Common statistical techniques include: Technique Description Descriptive Statistics Summarizes and describes the main features of a dataset ...

Analyze Market Trends 7
Common methods include: Descriptive Statistics Regression Analysis Time Series Analysis Cluster Analysis Each of these methods provides unique insights and can be used in combination to develop a comprehensive understanding of market trends ...
Quantitative Forecasting Uses mathematical models and historical data to forecast future trends ...

Insights Application 8
Type Description Example Tools Descriptive Analytics Analyzes historical data to understand what happened in the past ...
Microsoft Power BI, QlikView Predictive Analytics Uses statistical models and machine learning techniques to forecast future outcomes ...

Techniques for Effective Analysis 9
Data Exploration: Using descriptive statistics to summarize the data's main characteristics ...
Simulation: Using models to simulate real-world processes and assess potential outcomes ...

Improving Business Outcomes 10
Business analytics can be divided into three main types: Type Description 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 ...

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