For many investors in the stock trading Philippines market, understanding DCA meaning and its applications is essential. DCA, or dollar-cost averaging, is an investment strategy that involves consistently investing a fixed amount of money into stocks or mutual funds over a specific period, regardless of market conditions. This approach helps minimize the impact of market fluctuations and allows investors to buy more shares when prices are low and fewer shares when prices are high. By incorporating analytics into stock trading, investors can enhance their ability to identify trends, optimize entry and exit points, and make strategic investment decisions that align with their financial goals.

The Basics of Stock Trading in the Philippines

Stock trading in the Philippines is regulated by the Philippine Stock Exchange (PSE), which oversees the buying and selling of securities in the country. Investors can participate in stock trading through brokers registered with the PSE, which provides access to the local equities market. Trading in the Philippines follows a structured system where investors can trade publicly listed companies’ shares through real-time platforms.

To begin stock trading, investors must open an account with a PSE-accredited broker and fund their trading accounts. The PSE offers a wide range of investment opportunities, from blue-chip stocks to small and mid-cap companies, allowing investors to diversify their portfolios. However, successful stock trading requires a deep understanding of market trends, company performance, and macroeconomic factors that influence stock prices. This is where leveraging analytics becomes crucial in making informed investment decisions.

The Role of Analytics in Stock Trading Strategies

Analytics plays a significant role in enhancing stock trading strategies by providing investors with valuable insights into market behavior, price movements, and investment patterns. There are two primary types of analysis that traders use: fundamental analysis and technical analysis.

• Fundamental Analysis: This approach evaluates a company’s financial health, earnings reports, industry position, and economic indicators to determine its intrinsic value. By analyzing financial statements, balance sheets, and macroeconomic trends, investors can assess whether a stock is undervalued or overvalued.
• Technical Analysis: This method focuses on analyzing historical price data, trading volumes, and chart patterns to predict future price movements. Traders use technical indicators such as moving averages, RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), and Bollinger Bands to identify potential entry and exit points.

By integrating both types of analysis, investors in stock trading Philippines can make data-driven decisions, minimizing risks and maximizing returns. Additionally, machine learning and artificial intelligence are becoming increasingly popular in trading, offering predictive analytics and algorithmic trading to identify profitable opportunities.

How Data-Driven Insights Improve Investment Decisions

The use of data-driven insights allows traders to make objective and strategic decisions, reducing reliance on emotions and speculation. The following are ways in which analytics can improve investment decisions in stock trading:

1. Identifying Market Trends

By analyzing historical data and stock performance, traders can identify trends that indicate bullish or bearish market conditions. Market sentiment analysis, using news reports and social media insights, can also provide traders with a better understanding of investor behavior.

2. Risk Management and Portfolio Diversification

Risk management is a crucial aspect of trading, and analytics can help investors measure risk exposure and optimize portfolio diversification. By analyzing historical volatility, drawdowns, and correlation between different stocks, traders can allocate assets efficiently to minimize losses.

3. Backtesting Trading Strategies

Before implementing a trading strategy, traders can use historical data to test their methods through backtesting. This process allows investors to evaluate the effectiveness of their strategies under different market conditions, helping refine their approach for better results.

4. Algorithmic Trading and Automated Systems

Algorithmic trading uses predefined rules and mathematical models to execute trades at high speeds. These systems analyze vast amounts of data in real-time, identifying trading opportunities and executing orders with minimal human intervention. Many Filipino traders are now exploring algorithmic trading to enhance their investment strategies.

Smart Investment Approaches for Filipino Traders

To navigate the complexities of stock trading, Filipino investors must adopt smart investment approaches that leverage analytics and data insights. Here are some effective strategies:

1. Utilizing Dollar-Cost Averaging (DCA)

As mentioned earlier, DCA meaning refers to the practice of investing a fixed amount of money at regular intervals. This strategy is ideal for long-term investors who want to mitigate market volatility and avoid making emotional decisions based on short-term price movements.

2. Implementing Sector-Based Investing

By analyzing industry performance, investors can identify high-growth sectors and allocate their funds accordingly. For instance, technology, renewable energy, and healthcare have been gaining traction in the Philippine market, making them attractive investment opportunities.

3. Monitoring Global Economic Indicators

The Philippine stock market is influenced by global economic trends, including interest rates, inflation, and geopolitical events. Traders should analyze these macroeconomic indicators to anticipate potential market movements and adjust their investment strategies accordingly.

4. Using Technical Indicators for Better Timing

Investors should leverage technical indicators such as moving averages, Fibonacci retracements, and momentum oscillators to enhance their decision-making process. These tools help traders identify entry and exit points, improving their chances of making profitable trades.

Conclusion

Stock trading in the Philippines offers numerous opportunities for investors looking to grow their wealth, but success requires strategic planning and informed decision-making. By leveraging analytics, traders can identify trends, manage risks, and optimize their investment strategies effectively. Understanding DCA meaning and applying it in stock trading Philippines can further help mitigate risks and enhance long-term gains. With the right tools, knowledge, and data-driven insights, Filipino traders can navigate the complexities of the stock market and achieve financial success.

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What is Data Analytics?

Data analytics is all about digging into raw data to find patterns, answer questions, and make informed decisions. It’s become a crucial part of how businesses in almost every industry make more intelligent, informed choices. For instance, financial firms use it to predict stock trends, healthcare uses it to better patient outcomes, and retail companies analyze shopping patterns to offer better deals to customers. If data is involved, analytics can improve how a company operates. This widespread use shows how crucial skills have become in helping businesses survive and thrive in a data-driven world.

Educational Background and Skills Required

If you’re considering a career in data analytics, your education and skills are crucial. While many analysts have computer science, statistics, or data science degrees, don’t worry if your degree isn’t in one of these fields. Many analysts have successfully transitioned from different backgrounds by learning new skills. Here’s a breakdown of what you’ll need:

Technical Skills:

• SQL: Essential for managing and querying databases.
• Python or R: Great for data cleaning, analysis, and machine learning.
• Tableau: Helpful for creating visualizations and making data accessible to others.

Soft Skills:

• Problem-solving: You’ll need to figure out how to turn complex data into actionable insights.
• Communication: Explaining your findings to non-technical team members is as important as the analysis.

Certifications to Consider:

• Google Data Analytics Professional Certificate: A good starting point for beginners.
• Certified Analytics Professional (CAP): Shows a higher level of expertise and can significantly boost your resume.

These elements combine to form the toolkit of a successful analyst. Whether you’re just starting or looking to switch careers, focusing on these areas will help you make your mark in data analytics.

How to Get Real Experience

Hands-on experience is vital if you want to make it in data analytics. It helps you apply what you’ve learned and shows what you can do. Here’s how you can start building that essential experience:

• Internships: It’s a great way to learn directly from experts and get a feel for the work.
• Volunteering: Help out a charity or a small business with their data. It’s a win-win: they get your help, and you get real-world experience.
• Competitions: Check out sites like Kaggle, where you can enter data science competitions.
• Personal Projects: Start your project on something you’re passionate about, or join in on open-source projects.

These steps aren’t just about building your resume—they’re about making you a confident and capable data analyst.

Networking and Professional Growth

Networking is a powerful tool in analytics, often opening doors to private job opportunities. By connecting with professionals in the field, you gain insights into industry trends and potential job openings. Here’s how to expand your network:

• Industry Conferences: These gatherings are gold mines for networking. You’ll meet potential mentors, collaborators, and employers.
• Professional Organizations: Join groups like the Data Science Association to connect with peers and access resources like workshops and webinars.
• Online Communities: Engage in forums and social media groups focused on analytics. Sites like LinkedIn and Reddit have active communities where you can ask questions, share knowledge, and learn about job opportunities.

Getting involved in these networks can significantly enhance your professional development and job prospects in data analytics.

How to Apply for Jobs

Applying for jobs starts with ensuring your resume and cover letter stand out. Focus on highlighting the projects you’ve worked on and the specific tools you’ve used, like Python or SQL. Preparation is vital when it comes to interviews. Be ready to discuss your previous projects, how you handled challenges, and what results you achieved. Expect questions that probe your problem-solving and analytical skills.

Also, don’t be surprised if you’re asked to show off your technical skills during the interview. Many employers will give you a practical task to complete so they can see your abilities in action.

Conclusion

To land a job in data analytics, focus on building a solid educational foundation, gaining practical experience, and expanding your professional network. Remember to tailor your applications and prepare thoroughly for interviews. Keep pushing to enhance your skills and stay current with industry trends. Persistence and continuous learning are your best tools for success in this exciting field.

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Choosing the Right Topic and Understanding Your Assignment

Picking a topic for your research paper is the first step toward a successful project. Here’s how to make sure you choose a topic that not only interests you, but also meets your assignment’s requirements:

1. Reflect on Your Interests: Think about the subjects or discussions from class that captured your attention. A topic that intrigues you can keep the research process exciting and engaging.
2. Discuss With Your Instructor: Once you have a few ideas, discuss them with your teacher. They can offer insights into whether your chosen topic fits the assignment well and suggest adjustments if needed.
3. Read the Assignment Carefully: Thoroughly understand what the assignment asks for. Look for key details about the research paper’s format, length, and scope.
4. Ask Questions: Ask your instructor if anything about the assignment requires clarification. Getting clarification early is better than realizing midway that you’ve misunderstood the task.

Following these steps, you’ll decide a topic that interests you and fulfills the assignment’s objectives, setting you up for a focused and rewarding research experience.

Conducting Preliminary Research and Crafting a Thesis Statement

Starting your research paper involves thorough preliminary research, which is critical to establishing a solid foundation for your arguments. Here’s a straightforward approach to gathering the essential background information and crafting a thesis statement that stands out:

1. Explore Varied Sources: Dive into academic journals, credible websites, and books relevant to your topic. Explore a mix of old and new materials to get a comprehensive view.
2. Note-Taking: As you sift through various sources, jot down important points, arguments, and data. Organize your notes by themes or potential supporting evidence for different aspects of your topic.
3. Identifying Gaps: While researching, look for areas that have yet to be explored. These gaps often lead to a unique angle for your research paper.
4. Drafting a Thesis Statement: Based on your research, draft a thesis statement that clearly states the argument or point your paper will prove. This statement should be concise, assertive, and ready to be backed up with solid research.
5. Refinement: Refine your thesis statement until it crisply conveys your main argument. If crafting the perfect thesis feels daunting, don’t hesitate to seek assistance. A professional from ghostwriter Wien can provide you with the expert guidance necessary to fine-tune your thesis and research strategy.

Following these steps will build a strong base for your research paper, anchored by a compelling thesis that will guide your entire project.

Organizing Ideas: From Outline to First Draft

Creating a well-organized outline is like setting up a clear path through the wilderness of your research notes. This crucial step helps you shape a chaotic collection of ideas into a coherent structure for your paper.

Start by sorting your notes into significant themes that support your thesis statement. These themes will become the main sections of your paper. To make organizing more manageable, consider using digital tools. Software like mind mapping or document organizers can help you visualize the structure of your paper and rearrange parts as your ideas evolve.

Getting from an outline to a polished first draft can sometimes feel daunting. If you are stuck, reaching out for professional guidance can make a big difference. A Diplomarbeit Ghostwriter can offer the expertise needed to refine your arguments, improve clarity, and ensure your paper meets academic standards. Their input can transform your first draft from good to excellent, ensuring your research is presented in the best possible light.

Writing the Introduction and Conclusion

When starting your research paper, the introduction and conclusion are your chances to shine and leave a lasting impression on your reader.

• For the Introduction: Begin with something intriguing, like an unusual fact or a challenging question that relates directly to your research topic. Then, briefly preview what’s coming up, leading smoothly into your thesis statement. This thesis should be clear and direct, describing what you plan to explore or argue in your paper.
• For the Conclusion: This is where you wrap things up, so start by restating your thesis to show how your arguments have developed throughout the paper. Thereafter, don’t just stop; try to extend your discussion to a broader context or suggest what could be explored next in future research.

Keep your reader engaged by threading a straightforward narrative throughout your paper through a case study or a series of examples that bring your research to life. This makes your paper more exciting and helps to clarify your main points.

Final Review and Editing

Editing is your last step before submitting your research paper, and it’s crucial for making a great impression. Start by taking a break after you finish writing—stepping away helps you see things more clearly when you return. Then, read through your paper out loud. Next, have someone else look over your paper. A friend or classmate can spot mistakes you’ve missed and provide feedback on how your paper reads from another perspective.

If you can, consider hiring a professional editor. They’re skilled at polishing writing and can fine-tune your work to be clean, clear, and error-free. This step can elevate the quality of your paper and help ensure it meets all academic standards.

Conclusion

Writing a research paper is quite the journey, from the moment you pick your topic to the final touches you make during editing. It’s all about putting your ideas in order, making sure they make sense, and presenting them in a way that grabs your reader’s attention. Dive into each step with energy and care, and you’ll end up with a completed assignment and something you’re proud of. So go ahead and start your research enthusiastically—you’ll be amazed at what you can achieve when you put your mind to it!

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Programming helps you apply statistics to data: Data analysts are well-versed knowledge of analytics tools, but without adequate coding proficiency, they can’t apply analytical techniques to data. Programming provides the tools to apply statistics to data sets. With programming languages like R or Python, analysts can customize these techniques to the data at hand.

A Primer on Data Analytics and Programming

Data analytics involves examining, cleaning, transforming, and modeling data to extract useful information, draw conclusions, and support decision-making. On the other hand, programming is the backbone that enables efficient data analytics. Languages like Python, R, and SQL are popular choices in the data analytics realm. Understanding these languages and their libraries and tools is essential for anyone aspiring to become proficient in data analytics. Programming assignment help aids in this quest by providing support and guidance in coding, which is fundamental to data analytics.

Data analytics tools such as SAS, SPSS, and Excel allow for further analysis and presentation, including interactive data visualizations. Understanding the functionalities of these tools makes it simpler to interpret the data and draw meaningful conclusions. Although the need for programming may be reduced in these cases, an understanding of the fundamentals goes a long way in data analytics.

Streamlining Data Cleaning and Preprocessing

One of the critical steps in data analytics is data cleaning and preprocessing. It includes dealing with missing values, outliers, and normalization. Programming assignment help can be invaluable in understanding the algorithms and codes used for data cleaning. With tutorials, examples, and coding assignments, learners can familiarize themselves with libraries like Pandas in Python, which are instrumental in data cleaning. Mastery of data cleaning codes through programming assignment help ensures that the data is reliable and ready for analysis.

Enhancing Analytical Skills Through Data Visualization

Data visualization is an essential component of data analytics. It enables analysts to see patterns, trends, and insights that might not be evident in raw data. Programming languages offer various libraries for data visualization, such as Matplotlib for Python and ggplot2 for R. Programming assignment help can guide learners through the creation of plots, charts, and dashboards, ensuring they can effectively communicate the insights gleaned from data. By practicing through assignments, learners can enhance their skills and understand the best ways to represent data visually.

Mastering Statistical Analysis Techniques

At the core of data analytics is statistical analysis. To discern patterns and make predictions, analysts employ a range of statistical techniques such as regression analysis, hypothesis testing, and clustering. Programming assignment help can aid in mastering these techniques by providing coding assignments focusing on the application of statistics in data analytics. With guided assistance, learners can grasp the intricacies of writing codes for statistical analysis and implement them to uncover insights in datasets.

Data analysis also involves the use of visual tools. Charts and graphs provide a visual representation of data, enabling analysts to quickly uncover trends and draw insights from them. Programming assignment help can provide guidance on the coding needed to create and customize various types of charts and visualizations. They can also support individuals in developing the skills necessary to identify effective visual representations of data and effectively convey insights with graphically presented data.

Encouraging Exploration and Innovation

Programming assignment help is not just about solving problems; it’s also about fostering a sense of exploration and innovation. As data analytics is an evolving field, being curious and innovative is paramount. Programming assignment help can offer challenging assignments that push learners to think outside the box. By tackling these challenges, they can explore new ways of analyzing data, applying algorithms, or creating visualizations. This encouragement to innovate is essential for becoming a proficient data analyst capable of solving complex analytical problems.

Data analytics is about transforming data into information, information into knowledge, and knowledge into wisdom. Programming is the vehicle that drives this transformation. With programming assignment help, aspiring data analysts can streamline data cleaning, enhance data visualization skills, master statistical analysis techniques, and foster innovation. The amalgamation of programming startup.info proficiency and analytical prowess can unlock insights that are indispensable in today’s data-driven world. Investing in programming assignment help is an investment in building a foundation for a rewarding career in data analytics.

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The first analytics toolkits were based on semantic models from business intelligence software. They helped ensure effective management, data analysis, and consistency across tools. One drawback was the unavailability of timely reports. Business decision makers were not always confident that the results matched their original request. Technically, these models are used mostly locally, making them cost inefficient. In addition, the data often ended up isolated in disparate repositories.

Subsequently, an evolution in self-service tools made data analytics available to a wider audience. These tools promoted the proliferation of data analytics because they did not require special skills to operate. Desktop business analytics has gained popularity over the past few years, especially when working in the cloud. Business users are enthusiastically exploring a wide variety of data assets. The ease of use is appealing, while combining data from different sources and creating a “single version of reliable data” is becoming increasingly challenging. Desktop data analytics can’t always scale for use across large groups. There is also the risk of inconsistent definitions.

More recently, analytics tools are enabling broader transformation of business insights by automatically updating and automating data discovery, cleansing and publishing processes. Business users can work on any device with context, get real-time information, and achieve results.

Today, most of the work is still done by humans, but automation is gaining traction. Data from existing sources can easily be combined. The consumer performs queries, then analyzes the results, interacting with visual representations of the data, and creates models to predict future trends or conclusions. All of this happens under the direction and control of humans at a deep granular level. Incorporating data collection, data discovery, and machine learning provides the end user with more options and happens faster than before.

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Here are three situations where businesses can benefit from a big data analyst:

Incomplete purchases. In an online store, users add items to the cart, but then leave the site without placing an order. A big data analyst first finds out at what point a user loses interest. For example, leaving the site when they see a complicated registration form. Then suggests and tests hypotheses to help retain the customer and drive the store to the desired outcome (checkout).

“Bad” debts. The bank wants to minimize the number of customers who don’t pay back loans. The analyst looks at what characteristics of the customer indicate whether they will make their payments on time. On this basis, the customer will be approved or not approved for a loan.

Checking the effectiveness of the design solution. The creators of a dating app want to understand how users react to the color of the button. A data analyst will test two prototypes: one part of users see a version with a blue button, and another part sees a version with a red button. In the end, it helps the interface designer decide which color the button will work best.

Qualitative data analysis can also:

• identify present and future customer needs;
• predict the demand for a product or service;
• estimate the probability of error in different actions;
• control the operation and wear and tear of equipment;
• manage logistics;
• Monitor the efficiency of employees.

All this helps the company learn more about itself, increase profits and reduce costs.

What knowledge and skills does a data analyst need?
Here’s a starter pack for the novice data analyst:

• Work with data using Google Sheets, Sublime, Excel;
• use at least one programming language to solve problems: Python or R;
• Write queries to SQL databases;
• implement reporting in BI-systems: Tableau, Power BI, Google Data Studio, etc;
• Have basic knowledge of statistics.

Depending on the area, specific tools can be added.

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A data analyst helps a business not get lost in an ocean of information – structuring and interpreting it to present it in a clear format.

A data analyst is a big data analyst: he collects it, processes it, and draws conclusions. Based on his reports, companies make important decisions.

For example, in online commerce, you can analyze how customers use promo codes and what content is of most interest to website visitors, and based on this, decide which sites to use for promotion. In large chain stores, based on analysts’ conclusions, they optimize logistics and work with the flow of customers.

Almost all large companies are engaged in the collection of data. They are needed to track customer behavior, customer reactions to a new product. Data can be ordered or scattered, have different structure and density. If we talk about volumes, we are talking about gigabytes and terabytes of information. Processing such arrays manually is long and difficult, so automatic processing tools were created for analysis.

A Data Analyst (or Data Analyst) collects and analyzes big data, processes it, studies it, and draws conclusions. These experts conduct A/B tests, identify trends in customer behavior, and test hypotheses. The results of a data analyst’s work help businesses make objective decisions and reduce risks when launching new projects.

To do his or her job well, the data analyst must have a complete understanding of the company’s business processes. You need to know what task his work is supposed to help solve.

A data analyst can also look for patterns in a set of data, interpret the results, and make predictions to improve performance.

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Let’s look at five professions to see how they differ from each other.

• A systems analyst is a specialist who develops software requirements. He helps to solve company problems and set up business processes. A systems analyst solves the problem of functionality implementation from the technical side and makes a task pool for developers.
• A business analyst identifies the company’s problems and customer needs. Based on the findings, the business analyst decides which features should be integrated into the software in order to improve the final product.
• The market analyst collects information about the market, customer behavior, and target audience. He uses the data he collects to adjust the company’s marketing strategy.
• A data scientist collects information and then analyzes it. With the help of this knowledge he makes forecasts, identifies the probability of their implementation and obtains other valuable information that can be useful to the business.
• The Product Analyst is a specialist who collects and analyzes data on customer behavior and their interaction with the product. As a result of the product analyst’s work, the company receives clear recommendations that help the business grow and develop.
• It seems like these specialties are completely different. But if you look deeper, it turns out that they all require similar actions, knowledge, and skills. Once you have mastered one of the analytical professions, you can eventually change the field of work. For example, you can change from Data Analyst to Data Scientist.

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Virtuoso with all the spreadsheets, three-meter-long formulas, and conditional formatting. They neatly stack limitless files in different folders, naming each one with a phrase only they understand.

Strengths:

Careful and diligent. Send information to the customer only when they are really sure about it;
Have a good command of Excel tools, almost any task can be solved with its help.

Weaknesses:

Think there’s no point in learning new things if half the problems can be solved with two summaries and three vlookups;
prefer tables, lots of tables. Visualization, reserch, and analysis are more difficult, especially if research results need to be explained to non-analysts.

Recommendations: Excel analysts can be relied on for the most boring tasks. But it is time for them to switch to modern tools – databases and BI-systems.

Doubting analysts.

They start their conclusions with the words “approximately” or “most likely.” A common reason for this uncertainty is poor analytics infrastructure. A company has some ETL process crashing almost every day, or databases failing. So analysts can only say that conversions on branch A are 2-20% better than conversions on branch B.

Strengths:

Don’t mislead users and remind everyone that the data is inaccurate;
Honestly try to find the most accurate result and do everything to solve data problems;
Know everything about working with ETL processes, APIs, and database servers.

Weaknesses:

Get used to uncertainty about data and doubt results, even when working with complete data;
doubt the importance of what they are doing because they realize that incomplete analytics are hard to rely on.

Recommendations: push for infrastructure improvements with all your might. Talk about problems and push forward with goals to improve data collection.

Backlog Specialists

Their task lists are longer than the River Nile. They work from 8 a.m. to 8 p.m. Analysts prioritize, make priority lists, and then prioritize lists and still can’t get out of the perpetual backlog. Everyone around here knows that BI will answer any product question. That’s why you can find ETL process setup, building ML models, and collecting events across systems in the backlog.

Strengths:

Work without vacations or lunch breaks, trying to do as many tickets as possible. But the more tickets you do, the more they get thrown at them;
Are well versed in everything. They have the connections between all the tables saved in their heads. If you don’t understand why a country is written instead of the user’s email and the browser is in the country column, ask the analyst – he’ll tell you.

Weaknesses:

Because of the heavy workload, the backlog analyst doesn’t finish tasks – there just isn’t enough time to debug the processes 100%;
not enough time to offer ideas;
burnout. For the last year at the company, backlog analysts have been working out of their last legs. When they quit, they want to lie down and not see Jira for a couple of months.

Recommendation: this type of analyst should clarify the business necessity of all the questions that are asked. If you recognize yourself in this type, create a list of questions that the person must answer before giving you a task.

Analyst kings

Sprinkle ideas for product improvement, attend all the rallies and task tests, and if the decision to test or improve has passed them by, consider it a personal insult. Think they always have the last word and ask not to be assigned small tasks because they are built for more.

Strengths:

Are great at understanding the product, worrying about all metrics and imprudences;
Going into product managers where they can confirm their own hypotheses and see the numbers for themselves.

Weaknesses:

You have to look for a jun or midle to join such a specialist’s team for the “black job.” Because the analyst-king is a high-flying bird, and will not analyze 10 AB-tests a week;
Do not always hear other people’s opinions – there may be difficulties in communication.

Recommendations: listen and hear your colleagues. The product is made by the team. Even an excellent analyst needs help in development, design and other aspects.

Data Science analysts.

They have a huge technical background. Even if they need to divide 8,000 by 10, they turn on the Jupiter Notebook. Data Science analysts try to take on complex tasks on forecasting, segmentation, and models, but they keep getting asked to calculate budgets, find a couple of KPIs, or build a nice graph.

Strengths:

Versatile professionals who tackle tasks of any complexity. They have a wide range of hard skills and alternate between dashboards in BI systems and neural networks;
Solve most complex problems faster with programming languages.

Weaknesses:

Are willing to do all incoming tasks and often shy away from taking on more interesting projects worthy of their experience and expertise.
With Data Science analysts, you can solve complex problems. But you have to find common ground first.

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Google Analytics is a fantastic example of descriptive analytics in action. It gives you a snapshot of what’s going on with your site. For example, how many visitors you’ve had over a period of time or where they came from. Similarly, systems like HubSpot will show you how many people opened a particular email or participated in a campaign.

But then there are two main methods that come into play in descriptive analytics; data aggregation and data mining. The process of collecting and presenting data in an aggregate format is known as data aggregation.

As a result, descriptive analytics compresses huge amounts of data into a clear basic summary of what happened. As we will see later, this is often the starting point for deeper analysis.

№ 2. Diagnostic analytics (Why did this happen?).
This is the type of analytics that tries to find out why something happened by digging deeper. The main goal of diagnostic analytics is to find anomalies in your data and respond to them. For example, if your descriptive analysis shows a 20% drop in sales in March, you’ll want to find out why. Diagnostic analytics basically helps you do that.

Diagnostic analytics applications.
Using this type of analytics, the analyst looks for any new data sources that might provide more information about the causes of the sales decline. They may go further and discover that despite a large number of website visitors and a large number of “add to cart” actions, only a small percentage of visitors actually make a purchase. Further investigation may reveal that the majority of customers dropped out during the time they entered their shipping address.

№3. Predictive analytics (What happens in the future?)
Predictive analytics seeks to anticipate what will happen in the future. However, this is possible based on past patterns and trends to help estimate the likelihood of a future business event or outcome.

Predictive models literally create predictions based on relationships between a set of variables. For example, you can use the correlation between seasonality and sales numbers to predict when sales will drop. So, if your predictive model predicts that sales will drop in the summer, you can use that information to create a summer-themed advertising campaign or cut spending elsewhere to make up for the seasonal drop.

On the other hand, you may be running a restaurant and want to know how many takeout orders you’ll get on a typical Saturday night. The results of this type of analytics can help you decide whether to hire an additional delivery driver.

№ 4. Prescriptive analytics (What’s the best course of action?).
To help determine the best course of action, prescriptive analytics examines what happened in the past, why it happened, and what might happen in the future. In other words, prescriptive analytics explains how best to take advantage of descriptive, diagnostic, and predictive analytics.

Nevertheless, it is the most complex type of analysis. This is because it involves many things, including machine learning algorithms, statistical approaches, and computational modeling procedures.

Essentially, a prescriptive model evaluates all the different choice models or paths a corporation might take, as well as their likely consequences. This allows us to visualize how each set of decisions might affect the future, as well as quantify the impact of a particular decision. Moving forward, the organization will be able to determine the best routes based on every conceivable scenario and consequence.

Predictive models are similarly used to calculate all the different “routes” a corporation can take to achieve its goals; with the best option in sight. And knowing which actions to take for the best chance of success is a tremendous asset to any company. So it’s not surprising that prescriptive analytics plays such a big role in business.

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