Analytics

As per SAS , Analytics is an encompassing and multidimensional field that uses mathematics, statistics, predictive modeling and machine-learning techniques to find meaningful patterns and knowledge in recorded data.

We use statistical and quantitative techniques to find the meaningful pattern and insights into the data.

Analytics is primarily divided into four parts :-
 
Descriptive Analytics (What Happened ?)
Diagnostics Analytics (Why Happened ?)
Predictive Analytics (What will happen ?)
Prescriptive Analytics (What should be done ?)

What is not Analytics ?

• Data Entry
• Data Warehousing
• ETL
• OLAP

What is Analytics ?

• Decision Tree
• Regression
• K-Means Clustering
• Neural Networks

Let us take an example , ABC product has sold 100k units of a product in quarter 1 and it's profit has risen to 70 percent.This is an example of OLAP . While How many people are going to respond a particular product based upon their previous buying trend, is an example of Analytics.