Differentiating Between Different Types of Data Analytics For CPAs, we commonly consider four types of data analytics: descriptive analytics, diagnostic analytics, predictive analytics, and prescriptive analytics. To understand the differences between these four types, review Appendix C to this text and refer to The Next Frontier in Data Analytics by N. Tschakert, J. Kokina, S. Kozlowski, and M. Vasarhelyi in the Journal of Accountancy found at https://www.journalofaccountancy.com/issues/2016/aug/data-analytics-skills.html. Required For each of the following ten examples, indicate which type of data analytics best applies (descriptive, diagnostic, predictive, or prescriptive). 1. Analyzing the trends of collections over the past 3 years for a customer and using that information to estimate the customer's collection schedule over the upcoming year. Answer 1 2. Preparing a horizontal analysis, showing changes in expenses over the prior year. Answer 2 3. Analyzing a significant change in operating expenses over the prior year by drilling down to specific categories that were over budget, down to specific departments, down to specific time periods. Answer 3 4. An analysis of inventory turns by product in conjunction with an analysis of web clicks for the related product resulted in a list of products to phase out over the next year