Three Levels of Analytics
When one hears the term “analytics”, it’s best to look closely at what exactly is meant. In his book “Mining Your Own Business”, an excellent read for decision makers, Deal & Pilcher describe ten levels/types of analytics and give expert guidance on leading analytics projects. There are three broad levels that generally apply: descriptive, predictive, and prescriptive. At its heart, analytics is a forward-focused endeavor but utilizes the past (and expert knowledge) to build a model of possible futures.