Question: The following statements are about descriptive analytics, predictive analytics, and prescriptive analytics. Three statements are true, and one statement is false. Select the answer choice

The following statements are about descriptive analytics, predictive analytics, and prescriptive analytics. Three statements are true, and one statement is false. Select the answer choice containing the FALSE statement.Insurance companies use descriptive analytics to study data about customers, products and services, and processes housed in their databases and warehouses.Analysts can use insights gathered during descriptive analytics to perform diagnostic analytics, which is a type of analytics that examines the cause of observed patterns.Predictive analytics is an analytical technique used to forecast future events or customer behaviors and anticipate conditions that are likely to cause negative consequences.Prescriptive analytics relies on information from predictive analytics, but not from descriptive analytics, to recommend actions.

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!