Organizations are recognizing that data can be a powerful business asset, and are investing in data analytics to provide this valuable tool. According to research, more than 95% of all organizations today incorporate data initiatives into their business strategies. However, most businesses falter when it comes to effective and efficient uses of data. Descriptive analytics, the most common type of data analytics, is used by savvy businesses to help figure out the “what” at the core of their data.
Descriptive analytics is the foundational data analysis tool that can simplify and reveal the basic meaning entrenched in data sets, and it is transforming the commercial world. Descriptive analytics can be used for everything from recognizing consumer trends to determining effective annual budgets.