BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When There’s No Data
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When There’s No Precedent
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When the Decision Maker Has Considerable Experience
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When the Variables Can’t Be Measured
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Detailed explanation-1: -Uncontrollable variables, which are quantities that can change but cannot be directly controlled by the decision maker.
Detailed explanation-2: -Predictive Analytics Predictive analytics is used to make predictions about future trends or events and answers the question, “What might happen in the future?”
Detailed explanation-3: -Descriptive Analysis It is at the foundation of all data insight. It is the simplest and most common use of data in business today. Descriptive analysis answers the “what happened” by summarizing past data, usually in the form of dashboards.
Detailed explanation-4: -One benefit big data and business analytics can help improve decision making is by identifying patterns. Identifying problems and providing data to back up the solution is beneficial as you can track whether the solution is solving the problem, improving the situation or has an insignificant effect.