Data Analytics Types Consider the following data analytic types (1 through 4):

1. Descriptive 2. Diagnostic 3. Predictive 4. Prescriptive Required:

Read the following brief descriptions (a through

d) of various cost management analyses.

Classify each description into the data analytic type (1 through 4) to which it most likely belongs:

a. A regression analysis that identifies a restaurant’s significant drivers of cost.

b. A simulation model that uses machine learning techniques to analyze data and provide a recommendation regarding new pharmacy store locations to optimize company profits.

c. A ratio analysis of historical data for an automobile manufacturer that reveals an upward trend in warranty costs.

d. A budgeted income statement analysis for a clothing retailer that forecasts the incremental profit of different product mix scenarios under consideration.