What are the different methods for data analysis?
An example of an AI chatbot conversation about comparing various data analysis methods.
What are the different methods for data analysis?
There are several methods for data analysis, including descriptive, inferential, predictive, and prescriptive analysis. Would you like to know more about a specific method?
Can you explain descriptive analysis?
Descriptive analysis summarizes historical data to identify patterns and trends. It uses measures like mean, median, and mode.
What about predictive analysis?
Predictive analysis uses statistical models and machine learning techniques to forecast future outcomes based on historical data.
How does prescriptive analysis differ from the others?
Prescriptive analysis recommends actions based on data analysis, helping to optimize decisions and outcomes.
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