What are the Different Types of Data Analysis?

1. What are the Different Types of Data Analysis? INTRODUCTION There’s a continuous flow of data all the time in most companies. Generally, it is in the raw form which doesn’t mean anything. Data analytics is the process of analyzing raw data to draw out meaningful insights and to inform and drive smart business decisions. Data Analysis is the new dawn in the current business world. It becomes quite necessary to be well aware of the current requirements. You can opt for Data Analytics Online Training in Dubai for an easy and faster learning approach. A successful training module explains the idea of working with raw data. A data analyst extracts raw data, organize it, and then analyzes it, for intelligible information. Further, the data analyst passes on their findings in the form of suggestions or recommendations about what the company’s next steps should be. Different types of Data Analysis Descriptive analytics Descriptive analytics is a simple and basic type of analysis for determining what happened in the past. It follows two techniques. First, Data aggregation where the data analysts gather the data. And secondly, Data mining where they carefully examine data to discover patterns. Diagnostic analytics

2. While descriptive analytics answers “what”, diagnostic analytics explores the “why”. Through diagnostic analysis, data analysts identify the anomalies within the data. Basically, they look towards finding problems and further developing a solution to that event Predictive analytics Going by its name, predictive analytics tries to predict what is likely to happen in the future. This is where data analysts come up with actionable, data-driven insights that the company needs for developing the next steps. Prescriptive analytics Prescriptive analytics answers the question of the next actions and decisions that should be taken. Basically, it suggests how to benefit from the outcomes that have been predicted. When conducting prescriptive analysis, data analysts will consider a range of possible scenarios and assess the correct actions the company might take. CONCLUSION Data has become one of the most valuable commodities in today’s market. However, today data is the new oil, it’s important to recognize that data is only valuable when it’s refined. The value of the data with a company depends on what they do with it. Thus, it increases the demand for data analysts. If you’re thinking of a career in data analytics, there has never been a good time than now. You can target Data Analytics Online Training in Saudi Arabia for a better learning approach. With market growth and skills shortage, data analysts will increasingly benefit from high demand.