Unlock the secrets to career success by mastering the 4 types of analytics: descriptive, diagnostic, predictive, and prescriptive! In this video, you'll learn how to compare and contrast these powerful tools, understand their advantages and disadvantages, and discover specific applications that can transform your decision-making skills in any industry. From describing past performance to prescribing future actions, this step-by-step guide breaks down the analytics evolution pyramid with real-world examples to help you harness data like a pro.
Did you know most professionals struggle to distinguish between these analytics types? Learn how to avoid common pitfalls, build a solid analytics foundation, and create actionable insights that drive results. Whether you're a data enthusiast or a seasoned expert, this video offers something for everyone—practical strategies, compelling business scenarios, and a framework to keep exploring, keep learning, and keep growing.
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CHAPTERS:
00:00 - The Problem with Data
00:58 - Importance of Data Analytics
05:38 - The Analytics Evolution Pyramid
09:56 - Descriptive Analytics Overview
20:30 - Understanding Diagnostic Analytics
30:45 - Predictive Analytics Explained
33:07 - Transitioning to Predictive Analytics
42:50 - Customer Churn Prediction in Predictive Analytics
48:46 - Correlation vs Causation in Data
52:14 - Overview of Prescriptive Analytics
1:02:49 - Interconnected Analytics Systems
1:04:00 - Analytics Pyramid in Retail Sector
1:06:24 - Analytics Pyramid in Healthcare Industry
1:08:39 - Analytics Pyramid in Financial Services
1:10:44 - Integrated Analytics Ecosystems Explained
1:13:59 - Matching Analytics to Business Questions
1:17:09 - Assessing Analytics Readiness Levels
1:21:01 - Determining the Right Analytics Type
1:22:40 - Analytical Approach to Decision Making
1:24:17 - Benefits of Cross-Functional Teams
1:26:45 - Traits of Successful Analytics Organizations
1:29:30 - Building an Analytics Capability Roadmap
1:30:23 - Forming the Right Analytics Team
1:31:56 - Common Challenges in Analytics Development
1:33:32 - Case Studies in Analytics Capability Building
1:34:53 - Expert Advice on Building Analytics Maturity
1:35:15 - Mastering Descriptive Analytics First
1:36:21 - Analytics Capability as a Journey
1:36:51 - Evolution of Analytics Practices
1:38:50 - AI Integration in Analytics Pyramid
1:41:34 - Convergence of Analytics Techniques
1:43:31 - Ethical Considerations in Analytics
1:45:01 - Vision for Integrated Analytics
1:47:24 - Implications for Data Professionals
1:48:30 - Journey Toward Advanced Analytics
1:49:26 - The Complete Picture of Analytics