Analytics : 5 Types Explained
How much value are you willing to extract? This week, I once again experienced writer's block. If you had asked me in February, "What would your 40th blog post be about?" I would probably have laughed and shrugged. However, in the midst of not knowing what to do next, I asked myself, "What is Analytics?" and discovered five sub-categories. While constructing a mind map in Coggle, I realized that each type of analytics posed one question and required a specific skillset to obtain the answer. Each answer was assigned a different value, akin to the by-products of a sugar cane distillery. Alcohol is perceived as a high-value product of cane juice when compared to sugar crystals. Therefore, the value comes from the level of processing rather than the starting materials. With that being said, here are the five questions answered by the five types of analytics: Descriptive: What Happened? Value: $1.00 Think of a news reporter telling you about past events or curren...