Question: Prescriptive analytics?refers to using optimization and simulation algorithms to provide advice on 'what should we do?' It explores several possible actions and suggests a course

Prescriptive analytics?refers to using optimization and simulation algorithms to provide advice on 'what should we do?' It explores several possible actions and suggests a course of action. Examples include providing advice on scheduling employees' work hours and supply level in order to meet customer demand, selecting a mix of products to manufacture, choosing an investment portfolio to meet a financial goal, or targeting marketing campaigns to specific customer groups on a limited budget.

Prescriptive analytics?refers to using
Prescriptive Analytics focuses on: O Summarizing historical trends. O Data collection and organization. O Recommending best course of action based on data. C) Developing user-friendly data applications

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 Accounting Questions!