Diagnostic analytics is the data analytic type exemplified by a strategic cost management analysis that pinpoints specific process reengineering actions to lower costs.
The data analytic type exemplified by a strategic cost management analysis that pinpoints specific process reengineering actions to lower the cost of services and product manufacturing activities is diagnostic. Diagnostic analytics involves analyzing data to determine the causes of specific outcomes, such as identifying factors contributing to high costs. In this case, the analysis is focused on identifying the specific process reengineering actions that can be taken to reduce costs.