BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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All of the Above
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Descriptive Analytics
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Predictive Analytics
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Prescriptive Analytics
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Detailed explanation-1: -Descriptive analytics: Encompasses the set of techniques that describes what has happened in the past; examples include: Data queries. Reports. Descriptive statistics.
Detailed explanation-2: -General techniques used in descriptive analytics include; Data collection, Data preparation, exploratory data analysis, data visualization, statistical analysis, and predictive modeling.
Detailed explanation-3: -Descriptive-Encompasses the set of techniques that describes what has happened in the past; predictive-Use models calibrated on past data to predict the future or ascertain the impact of one variable on another.
Detailed explanation-4: -Descriptive analysis or statistics does exactly what the name implies: they “describe”, or summarize, raw data and make it something that is interpretable by humans. They are analytics that describe the past.
Detailed explanation-5: -Descriptive analytics uses two key methods, data aggregation and data mining (also known as data discovery), to discover historical data.