What is Diagnostic Analytics?
Diagnostic analytics helps us understand why something happened by diving deep into data for clues. It's like a detective piecing together evidence to explain the cause of an event.
For diagnostic analytics examples, imagine a business notices a drop in sales. Diagnostic analytics would help them investigate the reasons behind it. They might look at customer feedback, marketing efforts, or pricing changes to figure out why sales declined.
What is the purpose of diagnostic analytics? This type of analytics goes beyond simply showing numbers. It looks for connections and patterns in the data to identify underlying causes. Think of it as a doctor examining test results to find out why a patient is not feeling well. It's all about answering the "why" behind the data.
In short, diagnostic analytics helps businesses and individuals dig deeper into their data to discover the reasons behind past performance, enabling smarter decisions for improvement.
Frequently Asked Questions:
What is diagnostic analytics?
It is the process of analysing data to determine the causes of previous results.
How does diagnostic analytics work?
To find reasons, it employs methods including correlations, drill-down analysis, and data discovery.
What is the main goal of diagnostic analytics?
To find out why certain events or trends occurred.
How is diagnostic analytics different from descriptive analytics?
Descriptive tells what happened, while diagnostic explains why it happened.
What tools are used in diagnostic analytics?
Tools include Tableau, Power BI, SAS, and QlikView.
Can diagnostic analytics be automated?
Yes, with the help of advanced analytics software and AI-based systems.
Which industries use diagnostic analytics?
It is widely used in healthcare, finance, e-commerce, and manufacturing.
What type of data is used in diagnostic analytics?
Historical and transactional data combined with operational data for deeper insights.
What are the benefits of diagnostic analytics?
It helps identify problems, improve efficiency, and support strategic decision-making.
What are examples of diagnostic analytics?
Investigating sales drops by product category or analysing the cause of website traffic decline.
