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Unlocking Data’s True Potential: An Analytic Approach to Solving Business Problems
In today’s data-driven world, businesses are faced with complex problems that require a deep understanding of analytics. This article will explore the different types of questions that businesses ask and the corresponding analytic approaches that can help unlock their data’s true potential.
When it comes to solving business problems, data analysis is a crucial step in finding the right solution. However, not all data analysis is created equal. The type of question you’re trying to answer greatly influences the methodology you should use. In this article, we’ll explore five common types of questions and the corresponding analytic approaches that can help you unlock your data’s true potential.
Descriptive Questions: “What is the current status?”
Descriptive analytics is all about summarizing and visualizing data to gain insights into the current state of a business. This approach is perfect for answering questions like “What is the current status of our sales?” or “What is our customer demographics?”
