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This article was written by Thomas Maydon. Maydon is the Head of Credit Solutions at Principa and has primarily been involved in consulting, analytics, credit bureau and predictive modeling services.Diagram and explanation of the 4 types of data analytics

Simplistically, analytics can be divided into four key categories. I'll explain these four in more detail below.

  1. Descriptive: What is happening?
  2. Diagnostic: Why is it happening?
  3. Predictive: What is likely to happen?
  4. Prescriptive: What do I need to do?

To read the full original article with numerous illustrations, click here. For more related articles on data analytics on DSC click here.

Related article: 8 types of data

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