Understanding Different Types of Analysis
Did you know there are 4 types of analysis and each one serves a different purpose?
In this article, we’ll explore them.
Each type of analysis plays a crucial role in the data analysis process.
In some projects, you may need to perform a full spectrum of analyses, from descriptive to prescriptive. This approach provides a comprehensive understanding of the data, allowing you to not only explore what has happened but also predict future outcomes and recommend optimal actions.
However not every project requires all types of analysis.
For example, if your project is focused on just understanding what happened and uncovering the root cause then only descriptive and diagnostic analysis may be sufficient.
Descriptive Analysis
Descriptive analysis focuses on summarizing and interpreting the data to understand what happened.
It answers the question “What has happened?”.
Key techniques used to perform descriptive analysis are summary statistics such as sum, min, max, variance, mean & median and visualization tools
Use Case
Let’s say you are monitoring the growth of flowers in your garden and you notice that the…
