BUAL 5660 EXAM 1 QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED

BUAL 5660 EXAM 1 QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED Leave the first rating Practice questions for this set Terms in this set (89) descriptive, predictive, prescriptive 3 types of analytics descriptive analytics that describes the data and was has happened, helps to understand what is in the data; answers questions like "what happened?" and "what is happening?" descriptive analytics what type of analytics is this: "how many facebook friends people in class have" descriptive annual revenue reports, inventory reports, sales data, are examples of what type of analytics? predictive analytics that predicts future events, uses algorithms, tells us what could happen, answers questions like "what will happen?" and "why will it happen?" predictive analytics uses probabilities to make assessments of what could happen in the future, can be used to solve problems and identify opportunities predictive a company uses analytics to prevent fraud, reduces risk by uses past behaviors to assess which customers are likely to default on payments; are examples of what type of analytics? prescriptive analytics that informs us what SHOULD happen in the future , answers questions like "what should I do?" or "why should I do it?"