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Diagnostic Analytics
Diagnostic analytics is a type of advanced data analytics to determine why a particular past event happened. Diagnostic analytics takes a look at historical data and uses techniques such as data discovery (collecting data and identifying trends and patterns in that data). It also uses data mining (finding anomalies and patterns in large data sets) and drill-down (revealing extra levels of detail from data sets).
What Small and Midsize Businesses Need to Know About Diagnostic Analytics
SMBs might use diagnostic analytics to understand the challenges they have experienced while growing their business. It helps them identify the root cause of a particular event (such as low sales growth in their first year of operations), learn from that experience, and make changes for the future.
Related terms
- Business Intelligence (BI) Services
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- Advanced Technology
- Big Data
- Business Analytics
- Digital Disruption
- Enterprise Application Software
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- Artificial Intelligence (AI)
- Computer-brain Interface
- Data Mining
- Master Data Management (MDM)
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- Business Intelligence (BI) Platforms
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