Descriptive analytics is an important part of business development. It is used by business analysts across the board to judge the absolute basics of a company, from its historical performances to current status, to the strategies in needs to adopt to do well in the future.
Descriptive analysis is one of the most basic and essential parts of business analytics. It allows businesses to see the most essential parts of their companies with more clarity.
In this article, we will discuss the role of descriptive analysis in helping modern businesses grow.
The Role of Descriptive Analytics
Descriptive analytics makes use of the existing information about a business and involves its complete analysis to find out how it used to perform in the past and how its performing currently.
Most business analysts who apply for jobs in the field should be well trained in descriptive analytics. It is one of the more basic jobs an analyst is expected to do.
Typically involving techniques like data aggregation and data mining, descriptive analytics seeks to make important information about a business available to people at every level of a company, from C-suite executives to lower-level business development execs. The takeaways presented from a descriptive analysis are important for people at every level of a company to study.
Uses of Descriptive Analytics
Descriptive analytics can be used to study many different aspects of a business. From analyzing customer behavior to improve marketing campaign structure to studying how financial resource allotment can help certain departments within a business.
Any analyst worth his salt should be able to carry out a basic descriptive analysis of a company. Before joining any program in business analytics, make sure descriptive analytics is covered.
In Conclusion
Business analytics branches into different parts based on its use and purpose. There are different types of business analytics depending on what the purpose of the practice is. In the real world, business analytics is used for multiple purposes across different industries.
In this article, we covered how descriptive analytics plays a key role for organizations and companies invested in business analytics. If you find these tenets of the field, consider coming down for a demo class at one of the best business analytics course in Delhi offered at Kapil Heera Academy.
About the Author
Nitesh Payal is a renowned business blogger and writer. His interests include business analysis, analytics and marketing. He is also passionate about technology and the role it plays in expanding businesses.