BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Descriptive
|
|
|
Predictive
|
|
|
Prescriptive
|
|
|
Transcriptive
|
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: -Descriptive analytics answer the question, “What happened?”. This type of analytics is by far the most commonly used by customers, providing reporting and analysis centered on past events.
Detailed explanation-3: -Descriptive analytics tries to answer the question “What happened?” Predictive analytics, on the other hand, attempts to answer the “What will happen?” query. This means that descriptive analytics uses historical data and past performance to figure out where improvements can be made.