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Different Types of Data Analysis

There are 5 main types of data analysis: descriptive analysis which summarizes key features of data; inferential analysis which makes predictions about populations from samples; exploratory analysis which identifies patterns and relationships; predictive analysis which predicts future events based on historical data; and prescriptive analysis which identifies the best course of action based on data optimization and decision models. Each type of analysis serves a different purpose and involves different statistical or machine learning techniques.

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Anjali Kumari
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32 views7 pages

Different Types of Data Analysis

There are 5 main types of data analysis: descriptive analysis which summarizes key features of data; inferential analysis which makes predictions about populations from samples; exploratory analysis which identifies patterns and relationships; predictive analysis which predicts future events based on historical data; and prescriptive analysis which identifies the best course of action based on data optimization and decision models. Each type of analysis serves a different purpose and involves different statistical or machine learning techniques.

Uploaded by

Anjali Kumari
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Different Types

of

Data Analysis

#DailyDoseOfPowerBI
Descriptive Analysis
It is used to summarize and describe the key
features of a data set, such as the mean,
median, mode, range, and standard
deviation.

This type of analysis is useful for providing


an overview of the data and identifying
patterns or trends.
Inferential Analysis

It is used to make predictions or


generalizations about a population based on
a sample of data.

This type of analysis involves statistical testing


and is used to test hypotheses and draw
conclusions about the population.
Exploratory Analysis

It is used to identify patterns and


relationships in the data that may not be
immediately obvious.

This type of analysis involves visualizing the


data and looking for trends and correlations.
Predictive Analysis

It is used to make predictions about future


events based on historical data.

This type of analysis involves building


predictive models using machine learning
algorithms and statistical techniques.
Prescriptive Analysis

It is used to identify the best course of action


based on the data.

This type of analysis involves using


optimization techniques and decision-making
models to recommend a specific course of
action.
Thank You…

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