Asked by Tanesha Williams on Jul 02, 2024
Verified
The set of analytical techniques that yield a best course of action is _____ analytics.
A) prescriptive
B) predictive
C) descriptive
D) diagnostic
Prescriptive Analytics
The aspect of business analytics dedicated to finding the best course of action for a given situation.
Best Course
Refers to the most appropriate or effective path of action or study plan, often determined through assessment and analysis.
Action
The process of doing something with the intent to achieve an aim or handle a problem, often requiring decision-making and execution.
- Familiarize oneself with the diverse categories of analytics and their unique uses within the realm of data examination.
Verified Answer
PS
Preet Singh5 days ago
Final Answer :
A
Explanation :
Prescriptive analytics is the set of analytical techniques that use data, statistical algorithms, and machine learning techniques to recommend actions that optimize a particular business objective. It goes beyond descriptive and diagnostic analytics by not only identifying what has happened and why, but also providing recommendations on what actions to take in the future. Predictive analytics is focused on forecasting future outcomes based on historical data, while descriptive analytics offers insights into past events and trends. Diagnostic analytics is used to identify the cause of a particular issue or problem. Therefore, A) prescriptive analytics is the best choice for the given question.
Learning Objectives
- Familiarize oneself with the diverse categories of analytics and their unique uses within the realm of data examination.