Descriptive Analytics For Business Growth

1
Descriptive Analytics For Business Growth
2
What Is Descriptive Analytics

• The most popular and essential type of analytics
  used by businesses is descriptive analytics.
  Descriptive analytics can be used by every
  department of the company to track trends and
  operational success.
• By finding patterns and trends in huge amounts of
  data, business analytics helps organizations in
  making better decisions and enhancing
  performance. The KPIs and measurements used in
  business reports and dashboards are created using
  descriptive analytics.
• Using both current and old data, descriptive
  analytics finds out patterns and connections.
  Because it only describes trends and
  relationships without going any further, it is
  frequently referred to as the most basic form of
  data analysis.
• Using descriptive analytics, businesses can
  better understand what has occurred so far by
  describing and highlighting patterns in both
  historical and current data.
• When describing change over time, descriptive
  analytics is especially helpful. It uses patterns
  as a starting point for additional analysis to
  inform decision-making.

3
How Is Descriptive Analytics Used

• Although it helps to think of descriptive
  statistics as the first step in a longer process,
  data analysts can use them to describe pretty
  much any form of data. This is because even if
  descriptive statistics might identify trends or
  patterns, they won't dig farther. Descriptive
  analytics, however, is incredibly helpful for
  exposing yourself to new data.
• Descriptive analytics can be used to summarize
  the following types of data
• Financial records
• Surveys
• Social media engagement
• Website traffic
• Scientific findings
• Weather reports
• Traffic data

4
Benefits Of Descriptive Analytics

• Even though it is one of the most basic
  analytical strategies, descriptive analytics has
  several benefits
• We can present the data visually with descriptive
  analysis. Visual data presentation makes
  information much simpler to comprehend.
• Explains normally complex information in a way
  that is simple to understand.
• Provide a precise measurement of the frequency of
  important data points. Is cheap and simply needs
  basic mathematical knowledge to complete.
• Is easier to do, especially with the help of
  programs like MS Excel or Python.
• Relies on data that businesses already have
  access to, therefore more data is not required.
• It is far more accurate than statistical analysis
  since it considers the entire population (instead
  of just a small sample of data).

5
Key Takeaways

• The most basic type of data analysis, descriptive
  analytics, includes describing the key elements
  and traits of a data set.
• Statistical measures of distribution, central
  tendency, and variability are used in descriptive
  analytics.
• In addition to financial accounts, surveys,
  online traffic, and scientific data are all
  covered in this review of various data kinds.
• One major benefit of descriptive analytics is
  that it just needs rudimentary arithmetic
  abilities and enables you to display otherwise
  complex data in a way that is simple to
  understand.
• Descriptive analytics' primary drawback is that
  it merely summaries data it doesn't make
  inferences or test hypotheses.
• We can measure things like social media
  participation, content curation, and learner
  outcomes using descriptive analytics.

6
Thank You
For more Visit https//www.indiumsoftware.com/dat
a-analytics/ Inquiries info_at_indiumsoftware.com
Toll-free 1(888) 207 5969