Question: (LO 9-1) What is the most important difference between predictive and prescriptive analytics? Why is prescriptive analytics needed?

(LO 9-1) What is the most important difference between predictive and prescriptive analytics? Why is prescriptive analytics needed?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Data Analytics Accounting Questions!

Q:

Explain how we can relate to hypodermic needle theory. Explain how people have been influenced by the media Explain strategies you use in order to minimize the influence the effect media produces our...

Q:

A creative engineer suggests structuring the TLB so that not all the bits of the presented address need match to result in a hit. Suggest how this might be achieved, and what might be the costs and...

Q:

I need a transcript (what I'm going to talk and explain them) for my presentation from this book chapter 10 (page 271-277) "Controversy over regulation of int finance". Please help measap, deadline...

Q:

What's is the difference between predictive and prescriptive analytics? choose the best answer. A. Prescriptive analytics uses statistical modeling, and predictive analytics doesn't B. Prescriptive...

Q:

What is the most significant difference between predictive and prescriptive analytics? Why is prescriptive analytics needed?

Q:

What is the most significant difference between predictive and prescriptive analytics? Why is prescriptive analytics needed?

Q:

Explain the difference between descriptive, predictive, and prescriptive analytics. Textbook: model is learned, current data can be fed into the model to forecast the probability of future outcomes....

Q:

answer question 4 and 5 United Parcel Service Uses Three Types of Analytics service those customers. With so many variables to consider, it was practically impossible for drivers to optimize their...

Q:

Due wed HW Cht . 1 BUSA 2 1 2 0 , J . Wang Name Enily Haines Page. 3 0 . # 4 , 5 , 7 , 1 0 . Do these problems here below. # 4 . For each of the following scenarios, state whether descriptive,...

Q:

# 4 . For each of the following scenarios, state whether descriptive, predictive, or prescriptive analytics tools would most likely be used. ( Choose your answer for each question. ) a . The chief...

Q:

Contingent liabilities present certain problems and opportunities for companies. You have been asked to help prepare the companys annual report and a lawsuit has been brought against the company for...

Q:

Newfangled Dangle Systems had an after-tax profit of $1,000,000 last year. His expenses included $50,000 of interest, $100,000 of deferred taxes, and $150,000 of depreciation. In addition, the...

Q:

Kayla is considering investing in a bond with a face value of $ 1 0 , 0 0 0 . The bond pays an interest of 6 % payable quarterly. If she expects to make a 2 ( 1 ) / ( 2 ) % return per quarter in this...

Q:

Prepare a comparative horizontal analysis of the change in each current asset account from Year 6 to Year 7. Express each change in dollars and the percentage each change represents. Comment on each...

Q:

Click out of the top supplier to reset the filter then click the day with the fewest transactions on the line chart. How many transactions take place on that day?

Q:

Move your cursor over the data point on the day with the fewest transactions on the line chart. What is (are) the supplier name(s)? Clear your selection when you are finished.

Q:

As an auditor would you be more likely to find risk in supplier groups with large total amounts and large number of orders or large total amounts and small number of orders? Why?

Q:

explain further how monopoly firms are more productively efficient

Q:

Which of the following is true of business ethics? -Certain notions such as fairness, honesty, and reciprocity are universal norms. -Business ethics is an agreed-upon code of conduct in business,...

Q:

An n-year annuity-immediate has a payment of k 2 at time k, k {1, 2, ..., n}. Derive a formula for the present value of this annuity in terms of the symbol (I3,2a)n2 i , assuming money grows...