The different types of analytics:
Financial Analysis: is what is happening financially. This analysis examines financial statements, ratios, trends, and performance to understand your company’s financial health.
Descriptive Analytics: Tells you what happened. This analysis summarizes historical data to show patterns and trends using dashboards, key performance indicators, and performance reports.
Diagnostic Analytics: Tells you why it happened. This analysis investigates the drivers behind results to uncover root causes and understand what influenced the outcome.
Predictive Analytics: Tells you what is likely to happen next. This analysis uses statistical models and historical data to forecast future outcomes and trends.
When all four work together, you gain full visibility, clear direction and a competitive advantage.