Question: When we covered the topic of business analytics, prescriptive analytics is seen vital for decisionmaking processes. Considering its role and application, which of the following
When we covered the topic of business analytics, prescriptive analytics is seen vital for decisionmaking processes. Considering its role and application, which of the following statements accurately describes prescriptive analytics? Think about our inclass discussions.
A It strictly analyzes historical data to describe what has already occurred within a business without suggesting any future actions.
B It is solely used for visualizing data trends and does not contribute to decisionmaking or action plans.
C It employs mathematical and computational models to determine optimal decisions and actionable insights based on defined objectives and constraints.
D It harnesses realtime data streams to present immediate performance metrics, subsequently utilizing these metrics to inform longterm strategic planning and operational adjustments.
B It extrapolates future trends from existing data sets, providing a probabilistic foundation upon which businesses may consider a range of potential strategies for future scenarios.
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