3 Descriptive analysis and statistical inference supported by generative AI
This chapter covers
- Using generative AI to design analytics
- Descriptive analytics of collected data using generative AI
- Utilizing generative AI to select appropriate inference analytics methods
- Using generative AI to obtain complete code solutions for data transformation, visualization, and modeling
The work described in the previous chapter was challenging and strenuous but absolutely necessary. You ensured that the data is of acceptable quality and that you understand its meaning. Your understanding of the data may still change as analysis uncovers nuances and intricacies of the underlying process, but you should have a solid foundation by now.
In this chapter, we will walk through the first part of an in-depth business analysis, the end-to-end descriptive analysis, learning how generative AI can help us at each step. And it can help a lot, from answering questions related to available data to providing real business insights. We will start with high-level analysis planning, touch on even more data preparation (surprise!), and then describe and visualize the data, searching for business-relevant information. We will also apply more advanced statistical modeling tools to our data, hoping to infer more insight from it.