Business analytics is often broken into three categories: descriptive, predictive, and prescriptive. Table 1.1 in the textbook provides different quantitative analysis techniques for each of these categories. Select one of the techniques, briefly explain it and then provide a real-world industry application (i.e., aviation sector, healthcare, manufacturing, etc.) where decision makers adopted that technique to help solve their problems.

Table 1.1 Business Analytics and Quantitative Analysis Models BUSINESS ANALYTICS CATEGORY QUANTITATIVE ANALYSIS TECHNIQUE Statistical measures such as means and standard deviations (Chapter 2) Descriptive analytics Statistical quality control (Chapter 15) Decision analysis and decision trees (Chapter 3) Regression models (Chapter 4) Forecasting (Chapter 5) Predictive analytics Project scheduling (Chapter 11) Waiting line models (Chapter 12) Simulation (Chapter 13) Markov analysis (Chapter 14) Inventory models such as the economic order quantity (Chapter 6) Linear programming (Chapters 7, 8) Prescriptive analytics Transportation and assignment models (Chapter 9) Integer programming, goal programming, and nonlinear programming (Chapter 10) Network models (Chapter 9)