Three Types of Business Intelligence Analytics
Descriptive Analytics
Answers “What happened?” by identifying trends and relationships in historical and current data to understand past performance.
Predictive Analytics
Addresses “What is likely to happen? by modeling future outcomes using historical and real-time data for better planning.
Prescriptive Analytics
Aims to answer “What should my business do?” by recommending specific actions to optimize outcomes based on all relevant data.
Curious how descriptive, predictive, and prescriptive analytics can work for your firm?