Descriptive Analytics

Descriptive analysis or statistics is precisely what the name implies: they “describe”, or summarize, information and build it one thing that’s explainable by humans. It’s a kind of analytics that describes the past. The past refers to any purpose of your time when an occurrence occurred, whether or not it’s one minute past or one year past. Descriptive analytics is helpful as they help us to learn from past behaviors, and empowers us to understand how they may change future outcomes. The overwhelming majority of the statistics we tend to use fall under this class. (basic arithmetic like sums, averages, p.c changes.) Descriptive statistics are helpful to point out things like total stock in inventory, average greenbacks spent per client, and year-over-year amendment in sales. Common samples of descriptive analytics are reports that offer historical insights relating to the company’s production, financials, operations, sales, finance, inventory, and customers.