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Types of Data Analysis

The document outlines five types of data analysis: Descriptive, Diagnostic, Predictive, Prescriptive, and Exploratory. Each type has a specific purpose, method, example, and outcome, focusing on summarizing data, investigating causes, forecasting trends, recommending actions, and exploring data characteristics. This structured approach aids in understanding patterns and making informed decisions.

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hgaheen111
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126 views6 pages

Types of Data Analysis

The document outlines five types of data analysis: Descriptive, Diagnostic, Predictive, Prescriptive, and Exploratory. Each type has a specific purpose, method, example, and outcome, focusing on summarizing data, investigating causes, forecasting trends, recommending actions, and exploring data characteristics. This structured approach aids in understanding patterns and making informed decisions.

Uploaded by

hgaheen111
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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Types Of Data

Analysis
Descriptive | Diagnostic | Predictive | Prescriptive | Exploratory

Inder Panda
1. Descriptive Data Analysis

Purpose: Method: Example: Outcome:


Summarizes Utilizes Analyzing Clear
and describes summary monthly sales understanding
data to statistics and data for of key trends
understand visualizations. insights. and statistics.
patterns.

Inder Panda
2. Diagnostic Data Analysis

Purpose: Outcome:
Investigates Method: Example: Understanding
the "why" Explores Investigating a the root cause
behind causality and drop in app and factors
occurrences, correlation. downloads. influencing
identifying specific
causes. outcomes.

Inder Panda
3. Predictive Data Analysis

Purpose: Method: Example: Outcome:


Forecasts Involves Predicting Anticipation
future trends statistical stock prices of trends for
using models or based on strategic
historical data machine historical planning and
for proactive learning market data. decision-
decisions. algorithms. making.

Inder Panda
4. Prescriptive Data Analysis

Purpose: Outcome:
Recommends Method: Offers Example: Enhanced user
actions for personalized Recommending experience and
optimization, recommendations content on a engagement
providing based on user website. through tailored
actionable behavior. suggestions.
insights.

Inder Panda
5. Exploratory Data Analysis

Purpose: Method: Outcome:


Explores and Utilizes Example: Formation of
understands statistical Investigating hypotheses
data graphics, customer and a better
characteristics charts, and transaction understanding
for initial summary patterns. of the data
insights. stats. structure.

Inder Panda

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