BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Studying past historical data to research potential trends, to analyze the effects of certain decisions or events, or evaluate the performance of a given tool or scenario.
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Business Analytics
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Data Analysis
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Analytics
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Analysis
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Explanation:
Detailed explanation-1: -Predictive analytics is the use of data, statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data.
Detailed explanation-2: -Descriptive analytics is the process of parsing historical data to better understand the changes that occur in a business. Using a range of historic data and benchmarking, decision-makers obtain a holistic view of performance and trends on which to base business strategy.
Detailed explanation-3: -Predictive analytics uses historical data to predict future events.
Detailed explanation-4: -Predictive analytics looks at current and historical data patterns to determine if those patterns are likely to emerge again.
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