FAQ About Data Analysis

Data analysis can be used in different ways in many fields. But it can be divided into four main types.

• First, descriptive analytics are used to summarize and visualize historical data. In other words, it tells organizations what has already happened.
• Another type is diagnostic analysis. Diagnostic analysis examines not only what happened, but also why the condition occurred. Analysts should conduct a thorough investigation that will enable them to identify trends and cause-effect relationships to perform diagnostic analysis.
• Unlike the first two types of analysis, this type of analysis talks about the future, not the past. Predictive analysis predicts probable outcomes based on statistical models and identified trends from historical data.
• Another advanced type of analysis is prescriptive analysis. The final stage has been reached in the field of data-based decision making, thanks to prescriptive analyzes that suggest the best solutions through predictive analysis.