Three types of data analytics
The term data analytics normally denotes those processes and techniques used to extract some sort of value from data. Sometimes, the same term indicates the actual tools used to make this transformation happen. In any case, data analytics represents how we can transform crude data into something more actionable and valuable. We can recognize three different types of data analytics, each one carrying its own set of peculiarities and possible applications: descriptive, predictive, and prescriptive analytics.
Descriptive analytics
Descriptive analytics is the unmissable "bread and butter" of any analytical effort. These methodologies focus on describing past data to make it digestible and useable as required by the business need. They answer the generic question "what happened?" by leveraging summary statistics (like average, median, and variance) and simple transformations and aggregations (like indices, counts, and sums), ultimately...