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Business analytics is crucial in today's business world as it provides valuable insights into trends, patterns, and opportunities. However, there are four different types of business analytics, each with its own strengths and weaknesses. Descriptive analytics provides insight into past events, whileRead more
Business analytics is crucial in today’s business world as it provides valuable insights into trends, patterns, and opportunities. However, there are four different types of business analytics, each with its own strengths and weaknesses. Descriptive analytics provides insight into past events, while diagnostic analytics determines why certain events occurred. Predictive analytics forecasts future events, and prescriptive analytics recommends future actions based on data-driven insights. By understanding and leveraging the strengths of each type of analytics, organizations can make informed decisions about customer behavior, market trends, and future opportunities, leading to growth and a competitive advantage.