Descriptive Models
Enhancing Decision Quality with Analytics
Importance of Data Analysis
Creating Actionable Insights from Data
Framework
Improving Customer Satisfaction
Client Analysis
Comparison
Directions 
Key directions include:
Descriptive Analytics: Understanding historical data to identify trends and patterns
...Predictive Analytics: Utilizing statistical
models to forecast future outcomes based on historical data
...
Enhancing Decision Quality with Analytics It goes beyond
descriptive analytics (which describes what has happened) and predictive analytics (which forecasts what might happen) to suggest what should be done
...Modeling: Creating
models that simulate different scenarios and outcomes
...
Importance of Data Analysis The key types of data analysis include:
Descriptive Analysis: Summarizes historical data to identify trends and patterns
...Predictive Analysis: Uses statistical
models to forecast future outcomes based on historical data
...
Creating Actionable Insights from Data include: Analysis Method Description
Descriptive Analysis Summarizes historical data to identify patterns and trends
...Predictive Analysis Uses statistical
models to forecast future outcomes based on historical data
...
Framework categorized based on their purpose and application in business analytics: Analytical Frameworks
Descriptive Frameworks Predictive Frameworks Prescriptive Frameworks Strategic Frameworks SWOT Analysis
...Analytical Methods: Time series analysis and regression
models ...
Improving Customer Satisfaction Key components of business analytics include: Component Description
Descriptive Analytics Analyzes historical data to understand what has happened in the past
...Predictive Analytics Uses statistical
models to predict future customer behavior based on past data
...
Client Analysis Techniques used in data analysis include:
Descriptive analytics: Summarizes historical data to understand what has happened
...Predictive analytics: Uses statistical
models to forecast future client behaviors
...
Comparison in business analytics and statistical analysis, comparison is a fundamental technique used to evaluate different datasets,
models, or outcomes
...Qualitative Comparison: Focuses on
descriptive data and non-numerical attributes
...
Optimize Marketing Spend Common methods include:
Descriptive Analytics: Understanding what has happened in the past through historical data
...Prescriptive Analytics This involves recommending actions based on predictive
models ...
The Impact of Data Analysis on Strategy 1 Types of Data Analysis
Descriptive Analysis: Summarizes historical data to identify trends and patterns
...Predictive Analysis: Uses statistical
models and machine learning techniques to forecast future outcomes
...
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