Types of Business Analytics Explained
Types of Business Analytics
Business analytics can be divided into four major categories.
1. Descriptive Analytics
Explains what happened in the past using historical data.
2. Diagnostic Analytics
Explains why something happened.
3. Predictive Analytics
Predicts future outcomes using statistical models.
4. Prescriptive Analytics
Suggests actions to achieve desired results.
Excel is widely used in descriptive and diagnostic analytics.
