The Benefits of Descriptive Analytics

Descriptive analytics is the process of turning data into insights. It is used to understand what has happen in the past and why it happened. Descriptive analytics answers the question “What happened?”

Benefits:

There are 15 benefits of descriptive analytics including:

1. Understanding what has happened in the past – Descriptive analytics can help you to understand what has happen in the past and why it happen. This understanding can be used to make better decisions in the future.
2. Identifying trends – Descriptive analytics can be use to identify trends in data. This information can be use to make predictions about what will happen in the future.
3. Improving decision making – Descriptive analytics can be use to improve decision making. The insights gained from descriptive analytics can help you to make better decisions about the future.
4. Increasing efficiency – Descriptive analytics can be use to increase the efficiency of businesses and organizations. The insights gain from descriptive analytics can help businesses and organizations to optimize their operations.
5. Reducing costs – Descriptive analytics can be use to reduce the costs of businesses and organizations. The insights gain from descriptive analytics can help businesses and organizations to save money on operational costs.
6. Improving customer satisfaction – Descriptive analytics can be use to improve customer satisfaction. The insights gain from descriptive analytics can help businesses and organizations to improve their products and services.
7. Enhancing security – Descriptive analytics can be use to enhance security. The insights gain from descriptive analytics can help businesses and organizations to improve their security systems.
8. Generating new ideas – Descriptive analytics can be use to generate new ideas. The insights gain from descriptive analytics can help businesses and organizations to develop new products and services.
9. Improving communication – Descriptive analytics can be use to improve communication. The insights gained from descriptive analytics can help businesses and organizations to improve their communication systems.
10. Helping with compliance – Descriptive analytics can be use to help with compliance. The insights gain from descriptive analytics can help businesses and organizations to meet regulatory requirements.
11. Reducing risk – Descriptive analytics can be used to reduce risk. The insights gained from descriptive analytics can help businesses and organizations to reduce their exposure to risk.
12. Optimizing resources – Descriptive analytics can be use to optimize resources. The insights gain from descriptive analytics can help businesses and organizations to use their resources more efficiently.
13. Improving productivity – Descriptive analytics can be use to improve productivity. The insights gain from descriptive analytics can help businesses and organizations to improve their productivity levels.
14. Enhancing decision quality – Descriptive analytics can be use to enhance decision quality. The insights gain from descriptive analytics can help businesses and organizations to make better decisions.
15. Supporting operational decisions – Descriptive analytics can be use to support operational decisions. The insights gain from descriptive analytics can help businesses and organizations to make better decisions about their operations.

Applications:

There are many applications of descriptive analytics including:

1. Business intelligence – Descriptive analytics can be use for business intelligence. Business intelligence is the process of turning data into insights. The insights gain from descriptive analytics can be use to understand what has happen in the past and why it happen. This understanding can be use to make better decisions in the future.
2. Market research – Descriptive analytics can be use for market research. Market research is the process of gathering information about a market. The insights gained from descriptive analytics can be use to understand the needs of a market. This understanding can be use to make better decisions about marketing and product development.
3. Customer relationship management – Descriptive analytics can be use for customer relationship management. Customer relationship management is the process of managing relationships with customers. The insights gain from descriptive analytics can be used to understand the needs of customers. This understanding can be used to make better decisions about customer service and support.

Conclusion:

Descriptive analytics is a powerful tool that can be use to improve decision making, increase efficiency, reduce costs, and generate new ideas. The benefits of descriptive analytics are vast and diverse. Contact us today to learn more about how descriptive analytics can help your business or organization.