Analyzing data to find answers, spot trends, and draw conclusions is known as data analytics. Business analytics is the term used frequently to describe data analytics applied in business.
To analyze data, you can utilize software, frameworks, and applications like , Data Wrapper, Infogram, Tableau, and Zoho Analytics.
These can assist you in exploring data from many perspectives and producing visuals that shed light on the narrative you're attempting to tell.
Types of Analytics :-
Describing Information
What happened is answered by descriptive analytics.
Analytical Diagnostics
The subsequent logical inquiry, "Why did this happen?" is answered by diagnostic analytics.
Statistical Analysis
In order to predict future trends or events or to provide a response to the question "What might happen in the future," predictive analytics is utilized.
Analytical Prescriptive
Prescriptive analytics is the last.
Hence
1.Use of time series analysis to project future operating cash flows- Prescriptive Analysis .
2. Past performance comparisons to competitor- Descriptive Analysis
3. Use of analyst forecasts to project future sales - Predictive Analytics
4. Drill-down analytics to determine relations/patterns/linkages between income statement line items - Diagnostic Analysis
5. Vertical and horizontal analysis - Predictive Analytics
6. Summary statistics of past performance - Descriptive Analysis
7. Net present value analysis using forecasts of earnings and cost of capital Prescriptive Analytics
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