BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -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-2: -The three types of marketing analytics are descriptive analytics, predictive analytics, and prescriptive analytics.
Detailed explanation-3: -Descriptive Analytics tells you what happened in the past. Diagnostic Analytics helps you understand why something happened in the past. Predictive Analytics predicts what is most likely to happen in the future. Prescriptive Analytics recommends actions you can take to affect those outcomes.