BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
Descriptive Analytics
|
|
Predictive Analytics
|
|
Prescriptive Analytics
|
Detailed explanation-1: -Descriptive analytics is the analysis of historical data using two key methods – data aggregation and data mining-which are used to uncover trends and patterns.
Detailed explanation-2: -Descriptive analytics is the process of using current and historical data to identify trends and relationships. It’s sometimes called the simplest form of data analysis because it describes trends and relationships but doesn’t dig deeper.
Detailed explanation-3: -Descriptive analytics uses two key methods, data aggregation and data mining (also known as data discovery), to discover historical data. Data aggregation is the process of collecting and organising data to create manageable data sets.
Detailed explanation-4: -1 Most businesses start with descriptive analytics-the use of data to understand past and current business performance and make informed decisions. Descriptive analytics are the most commonly used and most well understood type of analytics.
Detailed explanation-5: -Descriptive Analytics It looks at the events of the past and tries to identify specific patterns within the data. When someone refers to traditional business intelligence, they are often describing Descriptive Analytics.