Last time we described the simplest class of analytics (i.e. descriptive analytics) that you can use to reduce your big data into much smaller, but consumable bites of information. Remember, most raw...
Updated 7 months ago
Version 22.0
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Hi MikeW,
Thank you for sharing your valuable thoughts and knowledge...
Now i could relate and differenciate Descriptive, Predictive & Prescriptive Analytics!:smileyhappy:
"In the meantime, do you work with predictive analytics? What is the data that you have (i.e. the accessible data), and what is the data that you don’t have and are trying to infer (i.e. theinaccessible data)? Do you validate your predictive models? Let’s open the floor to discussion. That’s how we all learn... "
No i dont work on Predictive analytics currently but, eager to know about it. i work in a chain of restaurant (FOOD & BEVERAGE) . I would like to do a predictive analystics, i have all the sale data ( with bill details & item details) with me and i want to predict monthly sales and also predict Sales on special days (Ex: Valentines day... etc)... what model can be used to accurately do this?... i am currently using only descriptive analytics as per the nature of summarizing the data.
Please help with your valuable opinion & knowledge!
Thanks in advance!