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 in-class 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 decision-making 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 real-time data streams to present immediate performance metrics, subsequently utilizing these metrics to inform long-term 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.
 When we covered the topic of business analytics, prescriptive analytics is

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!