Advantages of Descriptive Analytics
The advantages of Descriptive Analytics are as follows:
- It is used for summarising data.
- It helps to identify patterns and trends in the past data.
- One can identify the outliers in the historical data.
What is Descriptive Analytics and how does it summarize past data in a simple way?
The term Analytics means analyzing the patterns or the trends of the data. Since data comprises patterns it is important to analyze them so that the companies can harness the results to gain profit. The term descriptive means description.
In this article, we will discuss What is Descriptive analytics, the Tools used for Descriptive analytics, how they work and How can it able to benefit other companies.
Table of Content
- What is Descriptive Analytics?
- What tools can be used for Descriptive Analytics?
- How does Descriptive Analytics work?
- Summarizing Past Data using Descriptive Analytics
- Advantages of Descriptive Analytics
- Disadvantages of Descriptive Analytics
- How Can Companies Benefit From Descriptive Analytics?
- Conclusion