Question: Analytics tools fall into 3 categories: descriptive, predictive, and prescriptive. 1) What are the main differences between these categories?

Analytics tools fall into 3 categories: descriptive, predictive, and prescriptive.

1) What are the main differences between these categories?

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 General Management Questions!

Q:

explain the role that analytics plays in the modern business environment How is data analytics different from statistics? Analytics tools fall into 3 categories: descriptive, predictive, and...

Q:

Analytics tools fall into 3 categories: descriptive, predictive, and prescriptive. What are the main differences among these categories? Analytics tools fall into 3 categories: descriptive,...

Q:

Menu View Discussion Wk 1 Discussion: Statistics and Analytics in Business Research [ due Thurs ] Wk 1 Discussion: Statistics and Analytics in Business Research [ due Thurs ] Discussion Topic...

Q:

Analytic is used in all business roles. In management, it is important to understand what type of analytics to employ de pending on your position and the data available. To analyze business frends,...

Q:

Analytirs is used in all business roles. In management, it is important to understand what type of analytics to employ depending on your position and the data available. To analyze business trends,...

Q:

Analytics is used in all business roles. In management, it is important to understand what type of analytics to employ depending on your position and the data available. To analyze business trends,...

Q:

Analytics is used in all business roles. In management, it is important to understand what type of analytics to employ depending on your position and the data available. To analyze business trends,...

Q:

Analytics is used in all business roles. In management, it is important to understand what type of analytics to employ depending on your position and the data available. To analyze business trends,...

Q:

Explain how businesses use analytics to convert raw operational data into actionable information. Provide at least 1 example. Analytics tools fall into 3 categories: descriptive, predictive, and...

Q:

This weeks required readings explain the role that analytics plays in the modern business environment. Consider the following questions and respond in a minimum of 175 words: How is data analytics...

Q:

GREENTREE COMPANY acquires a new manufacturing equipment on January 1, 20x6, on instalment basis. The deferred payment contract provides for a down payment of P300,000 and an 8-year note for...

Q:

For each of the following teams, indicate whether the team is self-managed, self-directed, neither self-managed nor self-directed, or not a team at all. a. College football team b. Team c....

Q:

Question 1 6 options: Before the passage of the Secondary Mortgage Market Enhancement Act of 1 9 8 4 , there were regulations that prohibited investors from investing in mortgage - backed securities...

Q:

When older adults have difficulty with transportation and communication, or may be reluctant to request needed assistance to which they are entitled, they may be in need of: Group of answer choices...