Decoding analytics: Descriptive, Predictive, Prescriptive
Industry story in ETCIO states that enterprises rely on data insights to make critical business decisions and therefore it becomes utmost important to understand how different levels and maturity work and provide for a business. The story quotes data experts and leaders about different types of data analytics and how working on them can make the business performance better.
The article quotes V. Padmanabhan as, “The Data analytics ladder spans from basic to advanced starting from Descriptive (what happened in the past) to Diagnostic (why it happened) to Predictive (what may happen in the future) to Prescriptive (how to make it happen). For a long time now, this analytics ladder has existed which has enabled organizations to draw out historic reports, trends, metrics, and causal analysis based on those data points.”