Indicate which type of data analytics, 1 through 4, is described in each of the following statements,
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Indicate which type of data analytics, 1 through 4, is described in each of the following statements, a through \(h\).
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Data Analytics 1. Descriptive analytics 2. Diagnostic analytics 3. Predictive analytics 4. Prescriptive analytics Data Analytic Statement a. b. C. d. e. f. g. h. - Analytics focused on why something occurred. Study of key trends and patterns with the purpose of predicting future outcomes. Real-time data on customer orders by product item number allowing management to see any sudden changes in volume. Based on a predicted outcome, three courses of actions are suggested along with potential implications of each course of action. The CFO has a dashboard that updates automatically showing key financial indicators by department. Exploring data in order to make correlations. Use of analytics to forecast future demand for manufactured products. Focusing on what should happen versus what could happen.
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Cost Accounting Foundations And Evolutions
ISBN: 9781618533531
10th Edition
Authors: Amie Dragoo, Michael Kinney, Cecily Raiborn
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