What are five types of Statistical Analysis

 What are five  types of Statistical Analysis :







Descriptive  Analysis

Inferential Analysis

EDA (Exploratory Data Analysis )

Predictive Analysis

Prescriptive Analysis



Descriptive Analysis :

This type of analysis focuses on summarizing and describing data.It provides an ovrview of data through measures like mean,median,mode,variance and standard deviation.



Inferential Analysis :

It involves making predictions or drawing conclusions about a population based on a sample of the data about broader trends.



EDA (Exploratory Data Analysis ) :

Exploratory Data Analysis is an approach to analyze data sets. It is used to discover patterns ,identify,outliers and gain insights int the data before performing formal statistical tests.



Predictive Analysis :

Predictive analysis aims to forecast future outcomes or trends based on historical data.It involves the use of various modelin techniques, to make predictions & recommendations.



Prescriptive Analysis :

prescriptive analysis predicts future outcomes and suggests actions to optimize them , aiding organizations in decision making for achieving desired results.




Compiled By : Pushpendra Maurya

profession : Data Scientist

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