What are the Four Types of Business Analytics?
In this five part Ember series, we lay a foundation for Business Analytics and explore distinct categories of modern analytics:
- Descriptive
- Diagnostic
- Predictive
- Prescriptive
How do you know which kind of analytics you should use, when you should use it, and why?
Understanding the WHAT, WHY, WHEN, WHERE and HOW of your data helps drive analytics maturity.
Analytics is a broad term covering four different pillars in the modern analytics model. Each plays a role in how your business can better understand what your data reveals and how you can use those insights to drive business objectives.
As organizations collect more data, what they use it for and how they analyze and interpret that data becomes more nuanced. Data without analytics doesn’t make much sense, but analytics is a broad term that can mean a lot of different things depending on where you sit on the data analytics maturity model.
Understanding the what, why, when, where, and how of your data analytics helps drive better decision-making and enables your organization to meet its business objectives. In this blog, we will discuss what each type of analytics provides to a business, when to use it and why, and how they all play a critical role in your organization’s analytics maturity.
Dive in with Ember as we take a look at the first type of Business Analytics: Descriptive Analytics.