We use descriptive Analytics when we need to gain a better understanding of the companies’ at an aggregate level and when there is a need to summarize and describe different facets of the business from the past or historical data. This method allows us to learn from the companies’ past trends, behaviors, and understand how it might influence future results. We can:
- Generate reports that provide historical insights of the company’s functional and business units such as sales, HR, operations, finance, production and its customers
- Leverage the three methods to gather data and derive past insights
- Text Analytics
- Web Analytics
- Social Analytics
All of these methods are methods for collation, analysis, and reporting of company data for understanding the past data usage. Web analytics and social analytics, particularly help us to estimate the changes in the web traffic post-launch of any new ad campaigns and the number of visitors that hit a website along with page views. It helps to judge web traffic and growing trends useful for market research. While social analytics helps us understand the online behavioral patterns of the users and their preferences, likes, and dislikes.