Descriptive analysis is the analysis of historical data to determine what is, what has changed, and what patterns can be identified.
Considered the most basic type of analysis, descriptive analysis involves breaking down big data into small pieces of usable information, so that companies can understand what is happening in a given business, process or set of operations. Descriptive analytics can provide insight into current customer behaviors and business trends to support decisions about resource allocations, process improvements, and overall performance management. Most industry observers believe that descriptive analysis represents a large part of the logical analysis used by companies today.
SPSS (Statistical Package for the Social Sciences) is a popular software program used for statistical data analysis.
Augmented analytics is an approach that automates and improves data analysis using advanced technologies such as artificial intelligence (AI), machine learning (ML), and natural language processing (NLP).
The classic definition of a digital twin is: “A digital twin is a virtual model designed to accurately reflect a physical object.”
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