ANALYSIS VS ANALYTICS

Flowchart nodes

• ANALYSIS VS ANALYTICS

• ANALYSIS

• ANALYTICS

• Dividing a large data set (which consists of various data-types) into smaller parts, studying them and examining how they relate with each other

• Used to study past events

• To explain HOW and WHY

• Combination of logical and computational reasoning on parts from analysis  

• Refers to the future

• Explores potential future events

• Of Two Types

• Qualitative 

• Quantitative

• Planning based on experience and analysis  

• Formulas and Algorithms  

• How and Why

• Data and Analysis