Descriptive Models
Guiding Investments with Analytical Tools
Understanding
Understanding Data Analysis Processes
Research
Capability
Using Data to Inform Decisions
Data Analysis for Strategic Planning
Managing Change Through Data Analysis 
the context of change management: Methodology Description Application
Descriptive Analysis Summarizes historical data to understand past behaviors and outcomes
...Predictive Analysis Utilizes statistical
models and machine learning techniques to predict future outcomes
...
Guiding Investments with Analytical Tools They can be categorized into three main types:
Descriptive Analytics: This type focuses on summarizing historical data to understand what has happened in the past
...Building customized analytical
models for investment scenarios
...
Understanding Common techniques include: Technique Description Applications
Descriptive Analytics Analyzes historical data to identify trends and patterns
...Sales forecasting, performance tracking Predictive Analytics Uses statistical
models and machine learning to predict future outcomes
...
Understanding Data Analysis Processes Techniques used during this stage include:
Descriptive statistics Correlation analysis Data profiling This phase helps analysts identify trends, relationships, and anomalies within the data
...Predictive Analysis Uses statistical
models and machine learning techniques to forecast future outcomes
...
Research Types of Research in Predictive Analytics Research in predictive analytics can be categorized into several types:
Descriptive Research: Focuses on summarizing historical data to understand trends
...Predictive Research: Uses statistical
models and machine learning algorithms to forecast future events
...
Capability follows: Type of Capability Description
Descriptive Capability Involves analyzing historical data to understand trends and patterns
...Predictive Capability Utilizes statistical
models and machine learning to forecast future events based on historical data
...
Using Data to Inform Decisions Sales figures, revenue, website traffic Qualitative Data
Descriptive data that provides insights into opinions and behaviors
...Predictive Analytics: This technique uses statistical
models and machine learning to forecast future outcomes based on historical data
...
Data Analysis for Strategic Planning Type of Analysis Description Common Tools
Descriptive Analysis Summarizes historical data to identify trends and patterns
...R, Python Predictive Analysis Uses statistical
models and machine learning techniques to forecast future outcomes
...
Enhance Performance Management Analytics Description Application in Performance Management
Descriptive Analytics Analyzes historical data to understand what happened
...Predictive Analytics Uses statistical
models and machine learning techniques to predict future outcomes
...
Revenue Trends Regression Analysis: Regression
models can help quantify the relationship between revenue and various influencing factors, enabling businesses to make data-driven decisions
...For more information on related topics, visit the following pages: Business Analytics
Descriptive Analytics Market Analysis Autor: TheoHughes
...
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