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Statistical analysis is a collection of information such as organizing, analyzing, and interpreting quantitative data. This analysis uses various of techniques to draw conclusions about
Statistical analysis is a collection of information such as organizing, analyzing, and interpreting quantitative data. This analysis uses various of techniques to draw conclusions about large populations. One of the goals is to find patterns, relationships and trends in data. Data analysis is raw data and it collects, clean and organize data sets. They usually use past data to find this information. The data analysis is used for business to make decisions based off the data they collect. Descriptive: is historical data that is using two different methods. The two methods are data aggregation and data mining. These are usually using visual data. Predictive is a more advanced method of data analysis and this is used for probabilities. Prescriptive is using raw results to come up with potential actions. Companies can use raw data and convert into metrics for the company. At my organization we use raw data to track how our company is doing to be able to deliver products to our customers. When the company is falling behind we see the raw data and see if we can make changes
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