Descriptive Analytics
The interpretation of historical data to identify trends and patterns.
17 topics found for
“historical data analysis”
Sales Forecasting
The process of estimating future sales based on historical data, trends, and market analysis.
Normal Distribution
A statistical distribution where most occurrences take place near the mean, and fewer occurrences happen as you move further from the mean, forming a bell curve.
Empirical Rule
Also known as the 68-95-99.7 Rule, it states that for a normal distribution, nearly all data will fall within three standard deviations of the mean.
Forecasting
The process of making predictions about future trends based on current and historical data.
Predictive Analytics
The use of statistical techniques and algorithms to analyze historical data and make predictions about future outcomes.
Demand Forecasting
The process of predicting future customer demand using historical data and other information.
Three-Sigma Rule
A statistical rule stating that nearly all values in a normal distribution (99.7%) lie within three standard deviations (sigma) of the mean.
5 Whys
A problem-solving method that involves asking "why" five times to identify the root cause of a problem.