BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mathematics
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Statistics
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Computers
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Psychology
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Detailed explanation-1: -Business analytics as an interdisciplinary field of study includes methods, processes and software systems that extract insights from various forms of structured and unstructured organisational data to enable evidence-based decision making.
Detailed explanation-2: -The four most popular types of business analytics are descriptive, diagnostic, predictive, and prescriptive.
Detailed explanation-3: -There are three types of analytics that businesses use to drive their decision making; descriptive analytics, which tell us what has already happened; predictive analytics, which show us what could happen, and finally, prescriptive analytics, which inform us what should happen in the future.
Detailed explanation-4: -Business analytics focuses on data, statistical analysis and reporting to help investigate and analyze business performance, provide insights, and drive recommendations to improve performance.