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8 Examples of Analytics

 , March 11, 2017
Analytics is a category tool for visualizing and navigating data and statistics. Most analytics tools resemble a series of reports that can be customized and explored in a fluid user interface. The following are illustrative examples of analytics.

Web Analytics

Tools that report web traffic with the ability to explore data by factors such as cohort, demographics, client technology, geography, traffic source, page, campaign and conversions.

Predictive Analytics

Tools that make predictions about the future from patterns in past data. Although no one can predict the future with certainty, such tools are useful when assumptions need to be made. For example, an airline that is considering investing in a new route may attempt to predict future travel demand for a destination.

Retail Analytics

Analytics for retail forecasts and operations. For example, a retailer may attempt to predict demand for a trendy new style of shoe by color and sales region.

Marketing Analytics

Analytics to look at the results of product, pricing, promotion, advertising and distribution strategies. For example, analytics might show that female customers in their 20s are 70% more likely to purchase a particular item at price A as compared to price B.

Customer Analytics

Analytics are often used to model customer behavior. For example, modeling the events that lead to a customer becoming brand loyal.

Business Analytics

Analytics can be applied to any area of a business including strategy, operations and sales. For example, operations analytics might look at product cost, quality control and the throughput of resources such as production lines.

Risk Analytics

Predictive analytics is often used to model business risks such as the credit risk associated with a particular customer.

Real-time Analytics

Tools that look at current as opposed to historical data. For example, a bank might monitor credit card transactions in real time using an analytics tool.
Overview: Analytics
TypeInformation Technology
Definition (1)Tools that visualize data and statistics.
Definition (2)Computational analysis and visualization of data.
Related ConceptsCohort Analysis
Predictive Analytics
Data
Statistical Analysis
Knowledge

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Statistical Analysis

A list of basic statistical analysis techniques.

Cohort Analysis

The use of behavioral analytics to study the behavior of a particular group of people, known as a cohort.

Continuous Data vs Discrete Data

The difference between continuous and discrete data.

Hypothesis Types

The common types of hypothesis with examples.

Negative Correlation

The definition of negative correlation with examples.

Errors

The common types of error with examples.

Structured Data

An overview of structured data with examples.

Data

An overview of data with a list of examples.

Types Of Data

The basic types of data.

Dark Data

The definition of dark data with examples.

Data Massage

The mysteries of data massage.

Data Definition

Several useful definitions of data.

Data vs Information

The difference between data and information.

Hard Data vs Soft Data

The difference between hard data and soft data.

Human Readable

A definition of human readable.

Data Loss

The common types of data loss.
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