Types of Data Analysis

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Descriptive:

- We just describle the existing Data merely by observing the Data.

- We do not predict or forecast anything using the data

- It is Exploratory Data Analysis (EDA)

Predictive:

- Classification based on existing Data Sample eg.

- Titanic Survival based on variables viz. age/no.of family members/boarding point

- Banking: Will the person default Loan based on variables viz. Age/Annual Income/CIBIL Score

- Predict future rows based on existing data

- Test Model (80:20 approach)

- Forecast based on historic data (Forecasting is time-based)

Prescriptive:

- Recommend changes to the variables based on study of the Data (identifying relation between variables)

- Provide Leavers

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