oboloo

oboloo Glossary

Descriptive Analytics Techniques

oboloo Glossary

Descriptive Analytics Techniques

Descriptive analytics techniques are used to uncover patterns and relationships in data. They are one of the four key types of business analytics, along with predictive, prescriptive, and diagnostic. Descriptive analytics provide a way to summarize and explore data, allowing businesses to gain insights into the past and present state of their operations. These insights can help inform decisions on everything from product design to marketing tactics. Descriptive analytics enable businesses to understand trends, detect outliers, and create powerful visuals—from simple graphs to complex dashboards—to help explain their data. Ultimately, descriptive analytics help businesses identify opportunities for improvement and strategic growth.

Want to find out more about procurement?

Access more blogs, articles and FAQ's relating to procurement

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

© 2024 oboloo Limited. All rights reserved. Republication or redistribution of oboloo content, including by framing or similar means, is prohibited without the prior written consent of oboloo Limited. oboloo, Be Supplier Smart and the oboloo logo are registered trademarks of oboloo Limited and its affiliated companies. Trademark numbers: UK00003466421 & UK00003575938 Company Number 12420854. ICO Reference Number: ZA764971