There are three main types of analytics: descriptive, predictive, and prescriptive. Descriptive analytics provides insights into past performance, predictive analytics forecasts future trends, and prescriptive analytics offers actionable recommendations, all of which can help you make informed decisions and drive business growth.
Reports present historical data in a structured format, offering insights into past performance. Analytics, on the other hand, involves data analysis and modeling to generate insights, predictions, and actionable recommendations, enabling proactive decision-making for future business success.
An analytics team typically consists of project manager, data analysts, data engineers, and data visualization specialist. More advanced analytics team includes data scientists, developers, and business analysts.