Question: What is the most significant difference between predictive and prescriptive analytics? Why is prescriptive analytics needed?

What is the most significant difference between predictive and prescriptive analytics? Why is prescriptive analytics needed?

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!

Q:

(LO 9-1) What is the most important difference between predictive and prescriptive analytics? Why is prescriptive analytics needed?

Q:

What's is the difference between predictive and prescriptive analytics? choose the best answer. A. Prescriptive analytics uses statistical modeling, and predictive analytics doesn't B. Prescriptive...

Q:

What is the most significant difference between predictive and prescriptive analytics? Why is prescriptive analytics needed?

Q:

What does ETL mean? What are the four main types of data analytics and what do each focus on? What are the two general techniques used in descriptive analytics? Of the two techniques used in...

Q:

Does the difference between predictive and prescriptive analytics matters? Why would predicting bankruptcy be considered predictive analysis and determining the breakeven sales be considered...

Q:

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....

Q:

Due wed HW Cht . 1 BUSA 2 1 2 0 , J . Wang Name Enily Haines Page. 3 0 . # 4 , 5 , 7 , 1 0 . Do these problems here below. # 4 . For each of the following scenarios, state whether descriptive,...

Q:

# 4 . For each of the following scenarios, state whether descriptive, predictive, or prescriptive analytics tools would most likely be used. ( Choose your answer for each question. ) a . The chief...

Q:

Hello, can you tell me what your thoughts are on this? Thank you. For each of the following scenarios, state whether descriptive, predictive, or prescriptive analytics tools would most likely be...

Q:

For each of the following scenarios, state whether descriptive, predictive, or prescriptive analytics tools would most likely be used. Complete parts a through h below. a . The chief financial...

Q:

1/Which one is not a correct variable type in C++; A.float B.real C.int 2/ Which operation is used as Logical "AND". A. Operator-& B. Operator-|| C. Operator-&& D. Operator-+ 3/ Which of the...

Q:

Using the appropriate future value table, compute the future value of the following amounts received: a. $ 10,000 received at the end of each year for five years compounded annually at 10%. b. $...

Q:

Explain why a firm's cost of capital changes with changes in its capital structure ( pp . 4 1 7 - 4 2 0 ) .

Q:

If the following join statement is used to join two tables in a query, which of the following tables would all of the tuples in the relation appear in results? left join university.students on...