6 Questions
What is the purpose of descriptive analytics?
To identify possible trends in large data sets or databases
Which methodology is NOT typically associated with descriptive analytics?
Distributions
What distinguishes predictive analytics from descriptive analytics?
It identifies trends and relationships not readily observed in a descriptive analysis
Which measure is a part of descriptive analytics?
Standard deviation
What is the purpose of predictive analytics?
To build predictive models designed to identify and predict future trends
Match the following with their respective analytics type:
Measures of central tendency (mean, median, mode) = Descriptive Analytics Distributions and sampling methods = Predictive Analytics Charts, graphs, sorting methods = Descriptive Analytics Building predictive models to identify future trends = Predictive Analytics
Study Notes
Descriptive Analytics
- Purpose: to summarize and describe historical data to understand past business performance
- Methodology: NOT typically associated with Machine Learning
- Measured by: mean, median, mode, frequency, and percentiles
Predictive Analytics
- Purpose: to forecast what may happen in the future based on patterns in historical data
- Distinguishing feature: uses statistical models and machine learning to forecast, whereas descriptive analytics focuses on summarizing past data
Test your knowledge of Descriptive Analytics with this quiz! Explore the definition, purpose, and example methodologies of this fundamental statistical technique for analyzing large data sets and databases.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
