What are the types of data analytics?
An example of an AI chatbot conversation about types of data analytics.
What are the different types of data analytics?
There are four main types of data analytics: descriptive, diagnostic, predictive, and prescriptive.
Can you explain each type?
Sure! Descriptive analytics summarizes past data, diagnostic analytics explains why something happened, predictive analytics forecasts future outcomes, and prescriptive analytics suggests actions to achieve desired results.
Which type is most commonly used in business?
Descriptive analytics is the most commonly used type in business, as it helps organizations understand historical performance.
How can predictive analytics benefit my business?
Predictive analytics can help your business by identifying trends, improving decision-making, and optimizing operations based on data-driven forecasts.
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