10 Questions
Which methodology is used in business analytics to anticipate trends and outcomes?
Data mining
What is the focus of prescriptive analytics?
Making smarter, data-driven business decisions
What is the primary focus of business intelligence?
Converting data into meaningful information
What does business intelligence refer to in terms of analytics?
What happened and why it happened
What is the purpose of using statistics, computer programming, and operations research in prescriptive analytics?
Recommending actions for smarter decision-making
Match the following analytics type with its description:
Business Intelligence = Converts data into meaningful and useful information for business purposes Prescriptive Analytics = Identifying and expressing important patterns in data to make better decisions Descriptive Analytics = Focuses on transforming raw data into information and anticipating trends and outcomes Predictive Analytics = Use of methodologies such as data mining and statistical analysis to analyze and transform data
Match the following analytics type with its primary focus:
Business Intelligence = Collecting, storing, and exploring large database organizations for information useful to decision-making and planning Prescriptive Analytics = Making smarter, data-driven business decisions Descriptive Analytics = Transforming raw data into information for better decision-making Predictive Analytics = Identifying and anticipating trends and outcomes
Match the following analytics type with its use of methodologies:
Business Intelligence = Storing an organization’s data in computer cloud storage or in data warehouses Prescriptive Analytics = Uses statistics, computer programming, and operations research Descriptive Analytics = Focuses on transforming raw data into information using data mining and statistical analysis Predictive Analytics = Converting data into useful information and identifying trends using data mining and predictive analytics
Match the following technologies with their application in analytics:
Data mining = Used in prescriptive analytics to make smarter, data-driven business decisions Predictive analytics = Used in descriptive analytics to transform data and anticipate trends and outcomes Statistical analysis = Applied in predictive analytics to analyze and transform data into useful information Computer programming = Utilized in business intelligence to convert data into meaningful and useful information
Match the following methodologies with their use in business analytics:
Data mining = Used in predictive analytics to analyze and transform data into useful information Predictive analytics = Utilizes statistical analysis to analyze and transform data for decision-making Statistical analysis = Applied in prescriptive analytics to anticipate trends and outcomes Computer programming = Utilized in business intelligence to convert data into useful information for decision-making
Test your knowledge of prescriptive analytics with this quiz. Explore the use of statistics, computer programming, and operations research to make better business decisions. Learn about methodologies like data mining and predictive analytics.
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