Core components of analytics

  • Descriptive
    • what has happened based on historical data.
  • Diagnostic
    • Diagnostic analytics help answer questions about why events happened.
  • Predictive
    • Predictive analytics help answer questions about what will happen in the future.
  • Prescriptive
    • Prescriptive analytics help answer questions about which actions should be taken to achieve a goal or target. 
  • Cognitive
    • Cognitive analytics help you learn what might happen if circumstances change and determine how you might handle these situations.