c) descriptive analytics.
Big Data analytics is a method used by businesses to understand market demands, customer preferences, and market trends, so they can customize their products and services accordingly. There are three major analytical tools:
1. Descriptive analytics: Focus on understanding the current situation and trends in the organization and the underlying factors. It analyses historical and real-time data to gain insights on the successes and failures of its business strategies. Tools used here include charts and graphs, visualization applications, etc.
2. Predictive analytics: Tries to anticipate future prospects and trends, based on descriptive data and other statistical tools.
3. Prescriptive analytics: Focuses on solutions to business bottlenecks, action plans to maximize key business metrics, etc. It uses simulations and mathematical models.
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