Descriptive Analytics

Descriptive analytics which serves as a foundation for advanced analytics is the most common form of analytics that is used by businesses. Descriptive analysis as the name implies, summarizes raw data and makes it interpretable thereby providing insights into past behaviors, and understand how they might influence future outcomes. Coupled with diagnostic analytics, descriptive analytics examines key performance indicators and metrics to understand how a company is performing, and evaluate business processes.

Descriptive statistics are useful to provide historical insights regarding the company’s production, financials, operations, sales, finance, inventory and customers, total stock in inventory, average dollars spent per customer, and year over year change in sales thereby understand the business at an aggregate level to summarize and describe different aspects of your business.

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