10 Questions
Which type of decision-making uses advanced tools and techniques to determine the best course of action?
Prescriptive
What type of decision-making focuses on identifying the root causes of events?
Diagnostic
Which type of decision-making uses findings from descriptive and diagnostic analytics to predict future outcomes?
Predictive
What is the main challenge posed by problem 1 mentioned in the text?
Too little available data
What is the main challenge posed by problem 2 mentioned in the text?
Unreliable data
Which type of decision-making focuses on assessing the consequences of possible decisions and determining the best course of action in a scenario?
Prescriptive
What is the main challenge posed by problem 2 mentioned in the text?
Unreliable data
Which type of decision-making uses findings from descriptive and diagnostic analytics to predict what will happen next?
Predictive
What type of decision-making focuses on identifying the root causes of events?
Diagnostic
What is the main challenge posed by problem 1 mentioned in the text?
Too much available data
Test your knowledge on data analytics for business optimization in this quiz! Learn about the challenges of handling large amounts of data and unreliable information, and discover how statistical and mathematical methods can aid in making fact-based decisions. Explore common types of decisions, such as pricing strategies, and prepare to enhance your decision-making skills as a manager.
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