BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Business Analytics
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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: -"INFORMS defines analytics as the scientific process of transforming data into insight for making better decisions.
Detailed explanation-2: -In a nutshell, analytics is the scientific process of transforming data into insight for making better decisions.
Detailed explanation-3: -What are business analytics? The scientific process of transforming data into insight for making better decisions. Uses techniques that create models indicating the best decision to make or course of action to take.
Detailed explanation-4: -Business analytics (BA) is a set of disciplines and technologies for solving business problems using data analysis, statistical models and other quantitative methods. It involves an iterative, methodical exploration of an organization’s data, with an emphasis on statistical analysis, to drive decision-making.
Detailed explanation-5: -Business Analytics uses a diverse set of skills and tools to deliver well-informed reports on external and internal proceedings of an organisation. These reports are valuable for improved decision-making processes as accuracy increases significantly with metric-based reports.