What are the four types of data analytics? (Bengaluru)

What are the four types of data analytics?

Data analytics is broken down into four basic types. Deive analytics: This outlines what occurred throughout a certain time period. Has the amount of views increased? Are sales up this month compared to last? Diagnostic analytics: This is more concerned with why something happened. This requires more diversified data sources as well as some hypothesis testing. Was the weather a factor in beer sales? Did the most recent marketing effort have an effect on sales? Predictive analytics: This brings us to what is likely to happen in the near future. What happened to sales over the last scorching summer? How many weather forecasts call for a scorching summer this year? Preive analytics: This implies a course of activity. If the probability of a hot summer is more than 58 percent based on the average of these five weather predictions, we should add an evening shift to the brewery and rent an extra tank to improve output. Many quality control techniques in the financial realm, notably the ever-popular Six Sigma program, rely on data analytics. It is practically hard to optimize something if it is not adequately measured, whether it is your weight or the number of errors per million in a production line. The travel and hotel industries, whose turnaround times can be short, are among those that have accepted the use of data analytics. This industry may collect client data and determine where, if any, problems exist and how to resolve them. Healthcare makes use of large amounts of organized and unstructured data, as well as data analytics, to make timely choices. Similarly, the retail business makes extensive use of data to fulfill the ever-changing needs of customers. Retailers may use the data they gather and analyze to spot trends, promote items, and enhance profitability.