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Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
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Broadly, there are three types of analytics: descriptive , prescriptive , and predictive. The simplest type, descriptive analytics , describes something that has already happened and suggests its root causes. This data is gathered into either on-premises servers or increasingly into cloud data warehouses and data lakes.
To fully realize data’s value, organizations in the travel industry need to dismantle data silos so that they can securely and efficiently leverage analytics across their organizations. What is big data in the travel and tourism industry? Why is dataanalytics important for travel organizations?
Predictive Analytics assesses the probability of a specific occurrence in the future, such as early warning systems, fraud detection, preventative maintenance applications, and forecasting. PrescriptiveAnalytics provides precise recommendations to respond to the query, “What should I do if ‘x’ occurs?”
For example, an analytics dashboard that correlates shipping data gaps in a logistics view could be correlated to quantities released for distribution in a warehouse. Data do not understand causes and effects; humans do. Still, the correlated relationship is not necessarily causal.
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