Data Analytics for Business Optimization
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Questions and Answers

Which type of decision-making uses advanced tools and techniques to determine the best course of action?

  • Diagnostic
  • Descriptive
  • Predictive
  • Prescriptive (correct)

    • What type of decision-making focuses on identifying the root causes of events?

  • Diagnostic (correct)
  • Descriptive
  • Prescriptive
  • Predictive

    • Which type of decision-making uses findings from descriptive and diagnostic analytics to predict future outcomes?

  • Predictive (correct)
  • Prescriptive
  • Descriptive
  • Diagnostic

    • What is the main challenge posed by problem 1 mentioned in the text?

    <p>Too little available data</p> Signup and view all the answers

    What is the main challenge posed by problem 2 mentioned in the text?

    <p>Unreliable data</p> Signup and view all the answers

    Which type of decision-making focuses on assessing the consequences of possible decisions and determining the best course of action in a scenario?

    <p>Prescriptive</p> Signup and view all the answers

    What is the main challenge posed by problem 2 mentioned in the text?

    <p>Unreliable data</p> Signup and view all the answers

    Which type of decision-making uses findings from descriptive and diagnostic analytics to predict what will happen next?

    <p>Predictive</p> Signup and view all the answers

    What type of decision-making focuses on identifying the root causes of events?

    <p>Diagnostic</p> Signup and view all the answers

    What is the main challenge posed by problem 1 mentioned in the text?

    <p>Too much available data</p> Signup and view all the answers

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