Descriptive analysis is the most common type of analysis used in many businesses. This type of analysis will be called Business Intelligence because it provides the knowledge you need to make predictions about the future. This analysis will include the company analyzing data from the past, using data mining and data aggregation techniques, to help determine what has happened so far. Once the business has all of this information, it can use it for the future and make predictions about what will happen in the future.
The descriptive analysis essentially describes the events that have occurred in the past for the company. With the help of data mining and the ability to process data, we can turn that data into numbers and facts that humans are able to understand, enabling the business to use that data anytime. they need it to plan their future efforts.
Descriptive analysis can also allow us to learn from events that have happened in the past. This data can come from a day ago, a year ago, or when the business started. The business will need to sift through the information and use it to develop plans that can influence how it will evolve in the future.
For example, if a company is aware of the average number of product sales each employee has made each month over the past three years and is able to see if there were any downward or downward trends. rising numbers, you are able to anticipate trends that are likely to influence sales in the future. It can also help a business see when the numbers seem to be going down. The company can then use this information to modify its strategies to increase sales.
Most of the statistics that a business will use on a daily basis will come under descriptive analysis. What statisticians are going to do is collect as much descriptive data as they can from the past, then convert all that information into language that management and employees can understand.
Using this type of analysis allows a business to see things, such as how much it spends on certain expenses each month, how much it is able to make a clear profit. All of these could help the company know how to perform in the future so that it can make more profit.