This blog post from SG Analytics provides an in-depth look at descriptive analytics, explaining its definition, importance, and practical applications. It covers how descriptive analytics uses historical data to identify trends and patterns, helping businesses understand what has happened in the past. The article also includes several examples to illustrate how descriptive analytics can be applied in various industries to improve decision-making and strategy formulation.
The concept of descriptive analytics, which is a branch of data analytics focused on summarizing historical data to identify patterns and trends. It explains that descriptive analytics is crucial for understanding past behaviors and events, which can help businesses make informed decisions. The article outlines various techniques used in descriptive analytics, such as data aggregation and data mining, and provides practical examples of how these techniques are applied in different industries. For instance, it might discuss how retail companies use sales data to understand customer purchasing patterns or how healthcare providers analyze patient data to improve treatment outcomes.