What Is Descriptive Analytics, How To Implement Descriptive Analytics, And The Benefits Of Using Descriptive Analytics
This essay sheds light on what is descriptive analytics, demystifies how to implement descriptive analytics, delineates the benefits of companies leveraging descriptive analytics, and expounds upon the problems with companies not implementing descriptive analytics. Succinctly stated, descriptive analytics is deemed to be "a type of data analytics" that refers to the practice of harnessing "statistical techniques and data visualization techniques to summarize" historical data for data interpretation purposes. "Statistical techniques and data visualization techniques" can be leveraged to not only ascertain patterns in the historical data, but to also to track the results of key performance indicators that are derived from the historical data. Engaging in the descriptive analytics can aid researchers in being able to parse historical data. Engaging in the descriptive analytics can also aid researchers in being able to comprehensively ascertain how historical data can change over time. Data is not characterized by immutability in contexts in which changes in variable performance can precipitate changes in the data. Examples of changes in historical data disparities that can be demystified by engaging in descriptive analytics encompass the year-over-year revenue sales volume growth rate, the year-over-year revenue growth rate, the year-over-year net income growth rate, and the year-over-year market share growth rate. Researchers can engage in descriptive analytics in order to gain a comprehensive understanding of a company's financial performance. If companies are able to glean insights into their financial performance by engaging in the descriptive analytics, then they can identify areas for improvements. Furthermore, if companies are able to discover areas for improvements, then they can research the bottlenecks in these areas for improvements and subsequently follow the requisite measures to remedy the bottlenecks in these areas for improvements. The operational efficiencies of companies are undermined when they are fraught with bottlenecks. Companies should aim to enhance their operational efficiencies. Descriptive analytical reports that can be generated by engaging in descriptive analytics can aid researchers in being able to discover how a company's financial performance compares to the financial performance of other companies. Descriptive analytical reports can be broad in scope and can provide information about companies that extends beyond the ambit of their financial performance. The information that is encapsulated in a descriptive analytical report can vary based on its type of descriptive analytical report. There are disparate types of descriptive analytical reports. Descriptive analytical reports can report descriptive analytical report findings, such as patterns in the historical data of a company, the results of key performance indicators that are derived from the historical data of a company, and the identifiable areas for improvements of a company. Furthermore, descriptive analytical reports can also report other descriptive analytical report findings, such as insights on the manufacturing performance of a company and insights on the inventory management of a a company. Moreover, descriptive analytical reports can also report descriptive analytical report findings that appertain to marketing, such as insights on marketing performance of a company and insights on the customer behavior of a target market. Descriptive analytical reports can aid investors in being able to profusely understand companies. Attaining a comprehensive understanding of companies can render investors more informed about companies before they undergo the investment decision-making process. Investors should aim to implement prudent investment decisions. An investor should be acutely aware that in spite of how enticing an investment security may be, he is not guaranteed to reap a positive return on investment if he decides to invest in purchasing an investment security. An investor should only consider investing in purchasing investment securities if he can afford to risk potentially squandering investment dollars. It is a viable feasibility for companies to implement descriptive analytics. Implementing descriptive analytics not only involves identifying metrics that can inform the progression of business objectives when they are leveraged to measure historical data, but also entails inputting a sizeable amount of germane data into datasets for descriptive analytics techniques purposes before harnessing descriptive analytics techniques to generate descriptive analytical reports. There are a myriad of disparate types of descriptive analytics techniques. The bevy of disparate types of descriptive analytics techniques extend beyond the ambit of harnessing data mining to elicit patterns in the historical data of a company.
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What Is Descriptive Analytics, How To Implement Descriptive Analytics, And The Benefits Of Using Descriptive Analytics
This essay sheds light on what is descriptive analytics, demystifies how to implement descriptive analytics, delineates the benefits of companies leveraging descriptive analytics, and expounds upon the problems with companies not implementing descriptive analytics. Succinctly stated, descriptive analytics is deemed to be "a type of data analytics" that refers to the practice of harnessing "statistical techniques and data visualization techniques to summarize" historical data for data interpretation purposes. "Statistical techniques and data visualization techniques" can be leveraged to not only ascertain patterns in the historical data, but to also to track the results of key performance indicators that are derived from the historical data. Engaging in the descriptive analytics can aid researchers in being able to parse historical data. Engaging in the descriptive analytics can also aid researchers in being able to comprehensively ascertain how historical data can change over time. Data is not characterized by immutability in contexts in which changes in variable performance can precipitate changes in the data. Examples of changes in historical data disparities that can be demystified by engaging in descriptive analytics encompass the year-over-year revenue sales volume growth rate, the year-over-year revenue growth rate, the year-over-year net income growth rate, and the year-over-year market share growth rate. Researchers can engage in descriptive analytics in order to gain a comprehensive understanding of a company's financial performance. If companies are able to glean insights into their financial performance by engaging in the descriptive analytics, then they can identify areas for improvements. Furthermore, if companies are able to discover areas for improvements, then they can research the bottlenecks in these areas for improvements and subsequently follow the requisite measures to remedy the bottlenecks in these areas for improvements. The operational efficiencies of companies are undermined when they are fraught with bottlenecks. Companies should aim to enhance their operational efficiencies. Descriptive analytical reports that can be generated by engaging in descriptive analytics can aid researchers in being able to discover how a company's financial performance compares to the financial performance of other companies. Descriptive analytical reports can be broad in scope and can provide information about companies that extends beyond the ambit of their financial performance. The information that is encapsulated in a descriptive analytical report can vary based on its type of descriptive analytical report. There are disparate types of descriptive analytical reports. Descriptive analytical reports can report descriptive analytical report findings, such as patterns in the historical data of a company, the results of key performance indicators that are derived from the historical data of a company, and the identifiable areas for improvements of a company. Furthermore, descriptive analytical reports can also report other descriptive analytical report findings, such as insights on the manufacturing performance of a company and insights on the inventory management of a a company. Moreover, descriptive analytical reports can also report descriptive analytical report findings that appertain to marketing, such as insights on marketing performance of a company and insights on the customer behavior of a target market. Descriptive analytical reports can aid investors in being able to profusely understand companies. Attaining a comprehensive understanding of companies can render investors more informed about companies before they undergo the investment decision-making process. Investors should aim to implement prudent investment decisions. An investor should be acutely aware that in spite of how enticing an investment security may be, he is not guaranteed to reap a positive return on investment if he decides to invest in purchasing an investment security. An investor should only consider investing in purchasing investment securities if he can afford to risk potentially squandering investment dollars. It is a viable feasibility for companies to implement descriptive analytics. Implementing descriptive analytics not only involves identifying metrics that can inform the progression of business objectives when they are leveraged to measure historical data, but also entails inputting a sizeable amount of germane data into datasets for descriptive analytics techniques purposes before harnessing descriptive analytics techniques to generate descriptive analytical reports. There are a myriad of disparate types of descriptive analytics techniques. The bevy of disparate types of descriptive analytics techniques extend beyond the ambit of harnessing data mining to elicit patterns in the historical data of a company.
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What Is Descriptive Analytics, How To Implement Descriptive Analytics, And The Benefits Of Using Descriptive Analytics
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Product Details
| ISBN-13: | 9798317650988 |
|---|---|
| Publisher: | Barnes & Noble Press |
| Publication date: | 04/17/2025 |
| Pages: | 20 |
| Product dimensions: | 8.50(w) x 11.00(h) x 0.04(d) |
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