Analytics Works Data collection and preparation

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It relies on statistical methods such as regression, time series, and machine learning algorithms that analyze historical data to make predictions. How Predictive. The data collection stage is the basis for any analysis. The more quality data is available for analysis, the more accurate the forecast will be.

This may include data on customer purchases, website traffic, user behavior on social networks, and other sources. Data analysis . Once the data has been collected, it is time to analyze it. It is list of denmark whatsapp phone numbers important not only to collect the information, but also to interpret it correctly. The methods used can range from simple statistical analyses to complex machine learning algorithms. Forecasting . Based on the analyzed data, models are built that can predict future events.

For example, a model can predict when a customer will return to the site to make a purchase or which product will be most in demand next season. Interpretation of results . Forecasts must be easy to interpret so that effective decisions can be made based on them. This is important for businesses that not only want to predict, but also to correctly apply the information obtained.