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List and describe three levels or categories of analytics that are most often viewed as sequential...

List and describe three levels or categories of analytics that are most often viewed as sequential and independent, but also occasionally seen as overlapping.

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Answer #1

The categories of analytics are :

1. Descriptive analytics : It deals with the past data and the analysis thereof. It takes in to consideration the raw data available from the past and reveals meaningful results for future decision making. It also reveals the problems that the firm has faced in the past.

2. Predictive analytics: It involves analysing the current data for the future and predicting the future trends. It helps in estimating the future course of action.

3. Prescriptive analysis : Prescriptive analysis as the name suggests provides prescription for the issues identified in descriptive and predictive analysis. It lists the possibilities that may be taken and the result associated with each action.

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