Four models in analysis:


Since there are lot of confusions among us as in which model will be used for which analysis. So inorder to clarify that I have listed all four models and its applications.


Descriptive - What happened - Mean , Median, Variance, SD
Diagnostic-   Why it happened- Covariance and correlation
Predictive-    What can happen - Logical regression and Time series analysis
Prescriptive- How to make it happen - Deterministic(Optimal algos) and Stochaistic (Monte carlo simulator & Decision trees)



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