Descriptive Models
Intelligence
Enhance Collaboration through Data Insights
Utilizing Data for Strategic Planning
Business Intelligence
Data Mining Approaches
Identify New Business Opportunities through Data
Data Analysis
Improving Supply Chain Management Efficiency 
Descriptive Analytics: Analyzing past performance to identify areas for improvement
...Optimization
Models: Using mathematical models to find the most efficient solutions for logistics, inventory, and sourcing
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Intelligence Descriptive Analytics: The analysis of historical data to identify trends and patterns
...Churn Prediction: Predictive
models help businesses identify customers likely to leave, enabling retention strategies
...
Enhance Collaboration through Data Insights 1 Types of Data Insights
Descriptive Insights: These provide an overview of past events and trends
...Simulation:
Models various strategies to predict their impact on objectives
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Utilizing Data for Strategic Planning The primary types of data include:
Descriptive Data: Provides insights into past performance and trends
...Predictive Data: Utilizes statistical
models to forecast future events based on historical data
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Business Intelligence (K)
Analytics Techniques used to analyze data, including
descriptive, predictive, and prescriptive analytics
...Predictive Analytics: Uses statistical
models and machine learning techniques to forecast future outcomes
...
Data Mining Approaches Data mining techniques can be broadly classified into two categories:
descriptive data mining and predictive data mining
...Neural Networks Computational
models inspired by the human brain, used for complex pattern recognition
...
Identify New Business Opportunities through Data It encompasses various types of analytics, including:
Descriptive Analytics: Analyzes past data to understand trends and patterns
...Predictive Analytics: Uses statistical
models to forecast future outcomes based on historical data
...
Data Analysis different purposes: Type Description
Descriptive Analysis This type summarizes past data to understand what has happened in the past
...Predictive Analysis This type uses statistical
models and machine learning techniques to forecast future outcomes based on historical data
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Identify Cost Reduction Opportunities with Data for Cost Reduction To effectively utilize data for cost reduction, businesses can employ different types of analytics:
Descriptive Analytics Descriptive analytics focuses on summarizing historical data to understand past performance
...Predictive Analytics Predictive analytics uses statistical
models and machine learning techniques to forecast future outcomes based on historical data
...
Comprehensive Customer Insights Analyzing Customer Insights Several analytical techniques can be employed to derive insights from customer data:
Descriptive Analytics: This technique focuses on summarizing historical data to understand what has happened
...Predictive Analytics: Utilizing statistical
models and machine learning techniques, predictive analytics forecasts future customer behaviors based on historical data
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