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Tuesday, March 5, 2024

Archive for the 'Descriptive analytics' Category

Utilizing Data to Understand Your Audience and Turn Its Members Into Super Fans [Video]

The Entrepreneur Magazine team has published a video on ‘Utilizing Data to Understand Your Audience and Turn Its Members Into Super Fans’ featuring David Meltzer. Entrepreneur team says, “With more sports fans streaming content than ever before, teams and leagues have been forced to change their approach to distribution based on consumer habits. Formula 1 put a newfound emphasis on aggregating data on F1 fans and sports fans alike, using it to improve the experience of the more than 500 million Formula 1 fans worldwide. Global Research Director Matt Roberts is leading the charge,... [...]

Here’s what you need to know about predictive analytics

Econsultancy’s Jeff Rajeck is publishing a series of articles focused marketing analytics. Previously he has posted about Descriptive Analytics and Diagnostic Analytics. He has published the third article on Predictive Analytics. Rajeck says, “With descriptive and diagnostic analytics, we are able to describe data and offer explanations for why certain events happened. Notably, both techniques use data from things which happened in the past. The data itself, therefore, is never in question, even if the diagnoses are controversial. With predictive analytics, we are still relying on data... [...]

Diagnostic analytics – explained

After publishing an in-depth article on Descriptive Analytics, Econsultancy writer Jeff Rajeck has published a second article focused on Diagnostic Analytics. Rajeck says, “Previously, we discussed how descriptive analytics will tell you what just happened. To understand why, however, you need to do some more work. You need to perform diagnostic analytics. In many cases, when there is a single ‘root cause’ of the situation, diagnostic analytics can be quick and simple – you just need to find that root cause. But, if no root cause is apparent, then you need to use diagnostic... [...]

Descriptive analytics – explained

In descriptive analytics a summary of historical data is created to yield useful information and possibly prepare the data for further analysis. So it is one of the initial steps of analytics. Econsultancy’s Jeff Rajeck has published an in-depth article on descriptive analytics. Rajeck says, “For a start, descriptive analytics only uses facts and real data. Descriptive analytics should not include assumptions or derived data which cloud the description. For example, the report described above should not include estimates and any missing data should be clearly noted. Descriptive analytics... [...]

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