BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Enhances understanding of data
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Poor decision making
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Creation of informative reports
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Remain competitive
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Detailed explanation-1: -The Benefits of Business Analytics Improve operational efficiency through their daily activities. Assist businesses to understand their customers more precisely. Business uses data visualization to offer projections for future outcomes. These insights help in decision making and planning for the future.
Detailed explanation-2: -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-3: -There are four different data analytics types that we need to learn about: Descriptive, Diagnostic, Predictive, and Prescriptive.
Detailed explanation-4: -The four most popular types of business analytics are descriptive, diagnostic, predictive, and prescriptive.