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DIBM_U8_W20_Activity 3

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DIBM_U8_W20_Activity 3

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Created by

Dayan Rajapakse
Dayan Rajapakse
Sri Lanka

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DIBM_U8_W20_Activity 3Online version

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by Dayan Rajapakse
1

processing trends past techniques future summarize machine visualization data happened historical outcomes will why decisions indicators collection why insights investment answer reason performance descriptive insight

Descriptive analytics helps questions about what . These tools large datasets to explain to stakeholders . By developing key , these strategies can help track successes or failures . Metrics such as return on are used in many industries . This process requires the of relevant data , of the data , data analysis and data . This process provides essential insight into performance .
Diagnostic analytics helps answer questions about things happened . These tools supplement more basic descriptive analytics . They take the findings from analytics and dig deeper to find the or the cause . The performance indicators are further investigated to discover they got better or worse .
Predictive analytics helps answer questions about what happen in the . These tools use data to identify and determine if they are likely to occur again . Predictive analytical tools provide valuable into what may happen in the future and its include a variety of statistical and machine learning techniques , such as neural networks , decision trees , and regression .
Prescriptive analytics helps answer questions about what should be done . By using from predictive analytics , - driven decisions can be made . This allows businesses to make informed in the face of uncertainty . Prescriptive analytics techniques rely on learning strategies that can find patterns in large datasets . By analyzing past decisions and events , the likelihood of different outcomes can be estimated .

 
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