I am getting confused between these two terms as both involves previous project history and parameter.
Any quick difference to remember?
Let me explain with an examples.
Parametric - It costs $10 psf to install floor tiles. Your house has an area of 1000 sq. ft. How much would it cost to install the flooring in your entire house?
Analogous - There's a tall building in front of your house and someone tells you that the building's construction cost was 100 million. Now you are asked to calculate the cost of a similar building, which is half the height of the first building. How much do you think it would cost?
Hope you get the idea.
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. Nice approach