Multivariate Analysis | Business Intelligence |Predictive Analytics | Clinical Research and Forecasting
SAS initially designed to complete statistical analysis but now it is also used for analytics. It is mainly used for processing complex raw data into meaningful information. This meaningful information helps an institution to make better decisions. It is also helpful to us to compile, analyze and extract data from various resources. It does the processing, cleaning, digging, and packaging for statistical people.
In general, the SAS tool is playing a crucial role in statistical analysis and decision-making. But here we are presenting some specific fields that primarily use the SAS software.
So, let's proceed ....
1. Multivariate Analysis
Multivariate Analysis is used to analyze multiple elements or variables at the same time. SAS investigate the relationship among various variables without categorising them as dependent or independent. It uses different studies that reflect the effect of variable factors on a single result. It includes analysis of factor, bivariate, and many regressions.
2. Business Intelligence
Business intelligence is associated with the technologies and strategies that are used by any enterprise for data analysis of business information. Analysis of data helps the senior team by providing the scope of decision making. It also provides intuition regarding current, predictive and historical views of business working.
3. Predictive Analytics
Predictive analytics uses statistical algorithms, data and machine learning to identify the possibility of future outcomes based on historical data. As the name suggests, Predictive analytics uses already available data for future prediction. There are various statistical techniques to draw inferences for the prediction.
For example, a product of a company continues the trend in sales over the last few years, by analyzing the sales data of the product, it is predicted that the demand of the product will not change. Now, if another product of the same company continuous the sales trend of changing demand every month, by analyzing all the factors such as reason behind variation, conclusions, customer feedback process, It is predicted that there is high risk in the product. In the case of such products, historical data cannot be used for sales prediction.
4. Clinical Research and Forecasting
In the field of medicine, there are revolutionary changes due to SAS. It is used in the diagnostic decision-making system. SAS helps in critical decision making such as in diagnosis and prognosis, both are vital elements of medicine and must be precise and accurate. SAS is used to see if patients are at risk or not. SAS tool is even used in finding little chances which can improve the condition of a patient.
In all the above-mentioned applications, SAS uses statistics to analyze the data and produce the results. Its specific application produces accurate results in various fields. In the multivariate analysis, it analyzes multiple elements or variables at the same time.
So, the overall conclusion is that SAS is the pioneer in data analytics with its vast area of applications. We explained all the applications very clearly but if you still have any query so, feel free to ask in our contact section.