Prescriptive Analytics
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Questions and Answers

What is prescriptive analytics used for?

  • To analyze raw data without using technology
  • To predict future outcomes based on averages
  • To provide historical summaries of business data
  • To help businesses make better decisions through data analysis (correct)

    • What does prescriptive analytics consider when suggesting a course of action or strategy?

  • Possible situations or scenarios, available resources, past performance, and current performance (correct)
  • Competitor strategies and pricing models
  • Customer demographics and market trends
  • Only immediate time horizon factors

    • What is the opposite of descriptive analytics?

  • Diagnostic analytics
  • Predictive analytics
  • Historical analytics
  • Prescriptive analytics (correct)

    • What can prescriptive analytics simulate to help organizations understand their level of risk and uncertainty?

    <p>The probability of various outcomes</p> Signup and view all the answers

    What do organizations require tools for in response to their internal and external environment?

    <p>To understand current business processes and plan for future changes</p> Signup and view all the answers

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