For each of the following examples, identify whether it is Descriptive Analytics, Predictive Analytics or Prescriptive Analytics.
Question:
For each of the following examples, identify whether it is Descriptive Analytics, Predictive Analytics or Prescriptive Analytics.
a) Assessing how much I will need to increase supply to meet fourth quarter demands.
b) Assessing where (by zip code) most of my customers are coming from.
c) Regression analysis shows me that I get no customers from more than 50 miles away, even with heavy investment in marketing. I decide to not spend any further advertising money to customers that are more than 50 miles away.
d) Looking at monthly sales over the last 2 years.
e) Forecasting next month's sales from my dataset for monthly sales over the last 2 years.
f) Estimating how much my new pizza location will make based on known sales of other locations and local demographic data.
g) Based on past data, my company does not give loans to households making less than $20,000
Operations Management Processes And Supply Chains
ISBN: 9781292409863
13th Global Edition
Authors: Lee Krajewski, Naresh Malhotra, Larry Ritzman