Diagnostic Analytics tries to answer the why something happened in the past from our data sets- for example why did sales rise this month though we didn't have any marketing campaigns, why did patients in a sample have the same symptoms,why did our bank's customers choose the 5 year fixed mortgage product.
Frequently this side of data analytics looks at both internal and external data sets to draw inferences . The process of drawing out the inferences can lead to a significant benefit-- the creation of a data mindset in the company that will have force multiplier effects on the company's future performance . The process itself leads to exposure to tools for data drill down, statistical methods and confidence in future decision making --all leading to a virtuous cycle of creating a data mindset.
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