Once you have
enough data, you start to see patterns:
Data Analysis
The process of systematically applying statistical
and logical techniques to describe, illustrate, condense and evaluate data. “What is happening?”
Descriptive Analytics
High-level data analysis - summarise data into smaller, more useful information
– “What has happened?”
Predictive Analytics
Forecast techniques about what might happen in the future, “What could happen?”
Prescriptive Analytics
Prescribe an action so the business decision-maker can take this
information and act, “What
could happen?”
