Amid the rapid evolution of various industries, the adoption of data analytics methods has

emerged as a key driver in informing decision-making processes. The complex and dynamic
nature of sectors such as healthcare, banking and manufacturing require a deep understanding
of data to derive valuable insights. This exploration delves into the multifaceted use of data
analytics methods, including descriptive analytics, exploratory analytics, and confirmatory
analytics, across various industries. By taking a close look at how these analytics methods can
be harnessed in healthcare, banking and manufacturing, we aim to shed light on their impact in
improving operational efficiency, planning overall strategy and decision-making in each area.
In the healthcare industry, decisions often have life-changing consequences for both
patients and the general population. The ability to quickly collect and analyze complete,
accurate data allows decision-makers to make choices regarding treatment or surgery, predict
the path of large-scale health events, and long-term planning. Whether you are a medical
doctor working directly with patients or a healthcare administrator dealing with the business
side of the industry, applying data analytics methods such as descriptive analytics, Exploratory
or confirmatory analytics can provide the foundation for sound, impactful decision making.
Start with descriptive analysis, which aims to summarize and present data in a meaningful way.
In the healthcare industry, descriptive analytics can answer questions such as: What are the
patient characteristics? How many patients are in each category? What are the most frequent
or common conditions or treatments? How do patients compare across different groups or
regions? (Catherine, 2021). For example, doctors use descriptive analytics to understand data
about patients with diabetes. A table analyzing data from descriptive statistics can show the
number and proportion of patients with different types of diabetes in a hospital. This can help
determine the prevalence and distribution of diabetes in patient populations and compare it
with national or global statistics. A table can also display descriptive statistics of the data, such
as mean, median, mode, standard deviation, range, and quartiles. Besides, in the medical
industry, descriptive analysis is also applied to hospital admission trends of patients. Descriptive
analytics can help track changes in the supply and demand of healthcare services and evaluate
the impact of policies or interventions. Descriptive analysis also helps us locate initial thoughts
about the correlation or relationship between two or more variables, such that from descriptive
analysis doctors can make meaningful predictions. subjectivity about the relationship between
hospital admissions and seasonality or weather conditions. And this is also the foundation so
that when performing exploratory and descriptive analysis, these predictions can be clearly and
accurately verified. Next, in the medical industry, descriptive statistics can also be used to
analyze patient satisfaction. Applying descriptive analysis can show what percentage of
customers are completely satisfied with the quality of service at the hospital, and what
percentage of customers are dissatisfied. This can help measure quality of care and identify
areas for improvement or best practice. In particular, in the medical industry it can be used to
determine the extent of virus spread. One of the main uses of descriptive analytics in
determining the spread of a virus is to create dashboards that display key metrics and metrics
related to the outbreak. These dashboards can display information such as the number of
confirmed cases, deaths, recoveries, testing, vaccinations and hospitalizations over time and
across different regions. Also shows the distribution of cases by age, gender, ethnicity, and
other demographic factors. Dashboards can help stakeholders such as health authorities,
policymakers, researchers and the public track the progress and impact of the virus outbreak
and compare the situation between different countries. different countries or regions (World
Health Organization, 2020). Specifically, the Centers for Disease Control and Prevention (CDC)
has leveraged descriptive analytics to predict the next flu outbreak. CDC has been collecting
data on reported flu cases for more than a decade. Through a process of descriptive statistics,
CDC uses that data to help predict the severity of future flu seasons. Similar to the influenza
example is the coronavirus (COVID-19) pandemic. Descriptive analytics is fundamental to
helping predict future spikes in cases that can help hospitals ensure staff have enough personal
protective equipment and patient beds. It can also enable school administrators to decide if in-
person learning is a safe option and for individuals to make the right choices about personal
safety and hygiene, physical distancing society and travel (Catherine, 2021). Besides the
descriptive analysis method, the exploratory analysis method also brings many positive effects
to the healthcare industry. It involves finding patterns, relationships, exceptions, anomalies, or
hidden factors in data that are not obvious from descriptive analysis. Exploratory analysis can
help us generate hypotheses, identify potential causes or effects, discover new insights, or find
opportunities for improvement. Descriptive analytics can be useful in the healthcare industry to
report the current status of health status, patient population, treatment or medical service
outcomes, etc. For example, a pharmaceutical company wants to develop a new drug to treat
diabetes. It performs exploratory analysis on clinical trial data to understand the effects of
drugs on different types of patients. Next use descriptive statistics to summarize the baseline
characteristics and outcomes of patients who received the drug or placebo, using visualizations
to show changes in blood sugar over time. time for different patient groups. In addition, the use
of correlation analysis to examine the relationship between the results and potential predictors,
such as age, gender, weight, diet, etc. As a result, it can evaluate the effectiveness and safety of
the drug, and determine the optimal dosage and target population for the trial. Miller (2017)
explained that Blue Cross Blue Shield has been analyzing pharmacy and insurance data for
many years. Data are relevant to opioid abuse and overdose. Through exploratory analysis, Blue
Cross Blue Shield was able to effectively identify nearly 750 risk factors that can predict
whether someone is at risk for opioid abuse (comptia.org, 2018). Confirmatory analysis is the
highest level of data analysis. It involves testing hypotheses, verifying assumptions, validating
results, or evaluating using statistical techniques such as hypothesis testing, confidence
intervals, correlation, regression, ANOVA, etc. Confirmatory analysis can help us confirm or
reject our hypotheses, quantify our uncertainty, measure our effect size, or assess our
significance. The healthcare industry is one of the most data-intensive sectors in the world,
generating huge amounts of data from a variety of sources such as electronic health records,
medical claims, clinical trials , patient surveys, and wearables. These data can provide valuable
insights to improve healthcare quality, efficiency and outcomes. However, to draw valid and
reliable conclusions from these data, it is essential to use appropriate confirmatory data
analysis methods that can account for the complexity and magnitude of the data. uncertainty of
the data. One of the most popular methods of analyzing validation data in the healthcare
industry is regression analysis. Regression analysis is a statistical technique that examines the
relationship between one or more independent variables (predictors) and a dependent variable
(outcome). For example, regression analysis can be used to investigate how patient
characteristics (such as age, gender, and comorbidities) influence length of hospital stay or risk
of readmission. Regression analysis can also be used to evaluate the effectiveness of an
intervention (such as a drug or procedure) by comparing the results of a treatment group and a
control group. A recent study by Christoph D Spinner et al (2020) used regression analysis to
compare the mortality of COVID-19 patients receiving remdesivir versus those receiving
standard care. Remdesivir is an antiviral drug approved by the FDA for the treatment of COVID-
19 in October 2020. This study was a retrospective cohort study using data from 2348 admitted
COVID-19 patients. hospitals treated with remdesivir or standard care from May to October
2020. The study used Cox proportional hazards regression to estimate the hazard ratio (HR) of
death from remdesivir versus care standard of care, adjusting for potential confounders such as
age, sex, race, comorbidities, oxygen requirements, and hospital characteristics. Results
showed that remdesivir was associated with a lower risk of death in hospitalized COVID-19
patients (HR = 0.74; 95% CI = 0.59-0.93; p = 0.01), suggests that remdesivir may have a
beneficial effect on survival. In summary, applying data analytics methods, including descriptive
analytics, exploratory analytics, and confirmatory analytics, has proven to be instrumental in
advancing the healthcare industry. These analytical methods have enabled healthcare
professionals and organizations to draw meaningful insights from massive data sets, helping to
make more informed decisions, improving outcomes. of patients and improve operational
efficiency. Integrating these data analytics methods not only transforms the way healthcare
data is interpreted, it also paves the way for innovative research, personalized medicine, and
evidence-based practice, ultimately contributing part of the overall improvement of health care
delivery and patient care. As technology continues to evolve, the synergy between data
analytics and healthcare approaches will certainly play a pivotal role in shaping the future
landscape of the industry, driving a on data to maximize the potential for positive health
outcomes.
Besides the application of statistical data analysis methods that bring many benefits to
the healthcare industry, the same goes for the banking industry. The advent and application of
data analytics has helped the banking industry optimize its processes and streamline its
operations, thereby improving efficiency and competitiveness. Many banks are working to
improve their data analytics, mainly to give them a competitive edge or to predict emerging
trends that could affect their business. Starting with descriptive analytics, banking businesses
can use descriptive analytics to understand customer segments and their preferences by
analyzing demographic, behavioral, and transaction data. pandemic. Banks use descriptive
analytics to segment customers based on their age, income, location, spending habits, and
loyalty. Banks can then offer different products and services to each segment, such as savings
accounts, credit cards, loans, insurance or investment plans. Banks can also use descriptive
analytics to track customer satisfaction and feedback, and adjust their services accordingly. This
can help banks tailor their products and services to meet customer needs and expectations, as
well as identify cross-selling and up-selling opportunities. Besides, a more notable point is that
descriptive analysis is also applied in the banking industry to manage risk. Manage risk and
compliance by analyzing credit scores, default rates, loan-to-value ratios, capital adequacy
ratios, liquidity ratios and regulatory reporting. More specifically, descriptive analytics can help
identify the source and type of risks affecting the banking industry such as credit risk, market
risk, operational risk, liquidity risk, etc. Analyzing historical data on overdue debts, interest
rates, market fluctuations, fraud, cyber attacks, etc., banking businesses can understand the
nature and severity of these risks. and how they impact their performance and profitability. For
example, descriptive data analytics can help banking businesses determine a borrower's
probability of default (PD) and loss due to default (LGD), based on credit history, income,
collateral, etc. The use of descriptive techniques and tools, such as dashboards, charts, graphs,
tables, etc. helps banking businesses to visualize and communicate the data results as well as
their insights to stakeholders and decision makers, and facilitate identification of gaps,
challenges, trends, best practices, etc. Besides methodology Descriptive analysis methods,
exploratory analysis and confirmatory analysis are also widely applied in the banking industry.
In the banking industry, exploratory and confirmatory analytics can be applied to many
different areas such as customer segmentation, fraud detection, risk management, and
marketing. Banking businesses use heuristic and confirmatory analytics to identify the
characteristics and preferences of different customer segments, such as age, income, spending
behavior, loyalty and churn rate. Exploratory analysis may reveal that younger customers are
more likely to use mobile banking and digital wallets, while older customers prefer to visit
branches and transact cash. Based on these insights, banks can design different features and
offers for each segment, such as mobile alerts, rewards programs, and personalized offers .
Furthermore, exploratory and confirmatory analytics can help track changes and trends in
customer behavior over time, such as the adoption of new technology, the impact of economic
conditions and competitor influence. This can help predict and respond to customer needs and
preferences in a timely and proactive manner, and can help tailor products and services to
meet individual needs and expectations. segment. Next, exploratory and confirmatory analytics
are also used in the banking industry to detect and prevent fraudulent transactions and
activities, such as identity theft, money laundering, phishing, and hacking. network. Businesses
in the banking industry are exposed to global financial criminal activity, from money laundering
and market misconduct to sanctions, terrorist financing, bribery and corruption, costs about 1.3
trillion USD per year, according to Refinitiv Survey 2018 (signzy.com, 2022). The application of
exploratory analysis along with the application of new technologies and techniques can help
the banking industry face this problem more easily. Applying exploratory analytics can identify
unusual patterns and outliers in transaction data, such as high-frequency transactions, high
volumes, or overseas locations. These may indicate possible fraud attempts that require further
investigation and verification. Additionally, exploratory and confirmatory analytics can help
build predictive models that can flag suspicious transactions and activities in real time, based on
historical data and machine learning algorithms. . This can help prevent fraud before it happens
or minimize its impact. This can help protect banks and customers from financial loss and
reputational damage as well as comply with regulatory requirements. Exploratory analytics is
also applied in the banking industry to assess and manage risk levels and performance of bank
portfolios such as credit risk, market risk, liquidity risk and operational risks. Banks using
exploratory and confirmatory analytics can measure the correlation and covariance of different
assets and liabilities in a portfolio, such as loans, deposits, securities, etc. securities and
derivatives. This can help diversify your investment portfolio and reduce overall risk levels.
Furthermore, exploratory analysis can help simulate different scenarios and stress tests that
could affect portfolio performance, such as changes in interest rates, exchange rates , inflation
rates or market conditions. This can help evaluate a portfolio's sensitivity and resilience under
different circumstances.
Besides industries that carry a lot of data, the application of data analysis methods is also
very effective in the aviation industry. The airline industry is notoriously capital intensive.
Aircraft acquisitions are expensive, fleets require heavy maintenance, and everything about
airline operations - from fuel to airport parking to passengers to staff - is all subject to big cost.
Obviously, any minute lost while an aircraft is out for maintenance prevents it from becoming a
revenue-generating asset. Airline players face immense pressure arising from airline
maintenance involved in maintaining dispatch reliability, reducing maintenance costs and
enhancing aircraft safety. MRO alone accounted for 9% of total operating costs for airline
operators globally in 2018. As airlines continuously struggle with rising costs, reducing MRO-
related costs becomes important. This is why experts are talking about analyzing data through
different methods to be able to know exactly what is happening, why it is happening and the
possible impact of any action. any event for their business (Saravanan Rajarajan, 2021). Aviation
businesses use descriptive analytics to help visualize and summarize flight data, such as flight
time, distance, speed, altitude, fuel consumption, and emissions. This can help evaluate the
efficiency and environmental impact of flight operations as well as identify potential areas for
improvement. Vedant Singh & Somesh Kumar Sharma (2014) performed a descriptive analysis
of flight data from a major airline showing that a 2% reduction in airspeed can save up to 6%
fuel and reduce emissions by 18%. CO2 emissions every year. Descriptive analysis also shows
that optimal flight speeds vary depending on aircraft type, route, weather conditions and traffic
congestion. Therefore, the airline has implemented a dynamic speed management system,
which adjusts flight speed according to these factors. Descriptive analytics is also used to
understand customer characteristics, such as their demographics, preferences, and behavior.
For example, American Airlines uses descriptive analytics to segment their customers into
different groups based on their loyalty status, travel frequency, destination, and spending
habits. This can help American Airlines tailor their marketing campaigns, incentives, and
rewards to each customer segment. An example of a descriptive analytics project that American
Airlines undertook was to analyze the travel patterns of their AAdvantage members and
determine the most popular routes, destinations, and seasons for each loyalty level. set.
Besides, combining data analysis methods can help airlines monitor and report the status and
condition of aircraft components such as engines, landing gear, avionics systems aviation and
cabins. A descriptive analysis of maintenance data from a regional airline shows that changing
air filters every 500 hours instead of 1000 hours can prevent engine failures and save up to $1
million each year. Descriptive analysis also shows that air filters are more likely to become
clogged in certain areas due to dust and pollution. Therefore, the company has increased the
frequency of air filter replacements in those areas (Lee K., 2021). Besides, these data analysis
methods are also applied in the aviation industry to analyze and display safety data, such as
accident reports, incident reports, near-accident situations, dangers and risks. The exploratory
analysis method also helps aviation businesses analyze opportunities or problems. American
Airlines used exploratory analysis to find out what factors influence customer satisfaction,
loyalty, and retention. This can help American Airlines improve service quality, customer
feedback, and loyalty programs. An example of an exploratory analytics project that American
Airlines worked on was using natural language processing (NLP) to analyze customer sentiment
and review topics across social media and online platforms. This helps American Airlines
understand what customers like or don't like about their experience and how they can improve
it.
In conclusion, the integration of data analysis methods, including descriptive analysis,
exploratory analysis, and confirmatory analysis, has proven to be a transformative force across
various industries, notably healthcare, banking, and aviation. These analytical approaches
empower organizations to extract valuable insights from vast datasets, enhancing decision-
making processes and overall efficiency. In healthcare, data analysis enables personalized
patient care, predictive diagnostics, and resource optimization. Banking institutions leverage
these methods to detect fraud, assess risks, and enhance customer experiences. In the aviation
sector, data analysis contributes to improved safety measures, operational efficiency, and
predictive maintenance. The adoption of robust data analysis methods not only streamlines
processes but also lays the foundation for innovation, adaptability, and sustainable growth in
these critical sectors, ultimately leading to improved outcomes and a brighter future for
industries that prioritize data-driven strategies.