Question: Explain the difference between descriptive and predictive analytics. What is the main function for each type of analysis? Provide an example of how you would

Explain the difference between descriptive and predictive analytics. What is the main function for each type of analysis? Provide an example of how you would use each of these types of analytics in your current job.

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!

Can someone please help me in answering these questions I'm not sure which ones I am getting wrong and keep receiving a grade of 60% need 70% to get credit! 1. Which best describes a digital mindset?...

1. What is not an important consideration in becoming successful in data analytics? A. Developing a digital mindset and the ability to think analytically, with an emphasis on using data to make...

I want you to summerize these 7 items. !Please be different from other answers! !Please get a little quick! Thanks. You should summarize the 7 items in the photo. Max 125 words! reading 1....

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....

Analytics in the National Basketball Association Historically, the primary method of assessing player or team performance was the eye test. This term refers to the intuitive feeling that people with...

can someone help please Analytics in the National Basketball Association Historically, the primary method of assessing player or team performance was the eye test. This term refers to the intuitive...

1. List the three levels of the hierarchical planning approach and describe whether planning at each level is driven more by goals or requirements 2. Describe the steps involved in the Problem...

1 . Explain the differences between DSS , BI , and BI Analytics application types. 2 . Explain the difference between descriptive analytics, predictive analytics and prescriptive analytics and...

A literature review is the first part of a good project. Address the following sections that will assist you to outline a business industry problem that can be addressed through data analytics....

The following are some of the financial statements required in the State of New York CAFR: Government-wide statement: statement of net position Government-wide statement: statement of activities Fund...

On December 1, 2014, Fullerton Company had the following account balances. During December, the company completed the following transactions. Dec. 7 Received $3,600 cash from customers in payment of...

Hannah Grady dies and leaves the bills listed below. According to K . S . A . 5 9 - 1 3 0 1 , Classification of Demands, in what order are the following to be paid, if at all, by her executor, John...

Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,950 gallons @ $9.10 per gallon = $17,745 Purchases: Sales: Mar. 10 790 gals @ $ 9.15 Mar. 5 590 gals Mar. 16...