Tag: statistical analysis

Predictive Analytics

Written by Thomas Grubbe Møller on January 12, 2023.

Predictive analytics is a type of data analysis that uses statistical algorithms and machine learning techniques to identify patterns in data and make predictions about future events. It involves analyzing current and historical data to make predictions about future events or outcomes, such as customer behavior, market trends, or risk assessment. Predictive analytics relies on data mining, machine learning, and statistical analysis to make predictions.

Diagnostic analytics

Written by Thomas Grubbe Møller on December 22, 2022.

Diagnostic analytics Diagnostic analytics is a type of data analysis that is used to identify the root cause of a problem or issue. It involves analyzing data and using various tools and techniques to identify patterns, trends, and relationships in the data that can help explain why the problem is occurring. There are a variety of tools and techniques that can be used in diagnostic analytics, including data visualization, statistical analysis, and machine learning algorithms.