Application of data analytics Indicate which type of data analytics, 1 through 4, is described in each of the following statements describing a data analytics application, a through h. Data Analytics 1. Descriptive analytics 2. Diagnostic analytics 3. Predictive analytics 4. Prescriptive analytics Data Analytic Statement Based upon the predicted supplies of inventory required for the next 12 months, the validation of a new supplier is recommended. b. 1 A report summarizes average sales per customer per month for the past 5 years. C. + Statistical analysis of purchases for a key supplier for the last 12 months is used to predict supplier purchases for the next 12 months. Determination of why a website had increased traffic was ascertained from the patterns discovered in external data sets. е. 3 Data on equipment usage was statistically analyzed to predict the asset's useful life under three different scenarios. f. 1 + Inventory levels by product per day for the past week are summarized. g. 2 A university summarized data on how often each room on campus was utilized during the day for a one-month period. h. 4 + Because of a university's predicted classroom usage based upon forecasted enrollment rates and historical usage, an option to lease excess capacity was suggested. 4 - m N m - N +
Application of data analytics Indicate which type of data analytics, 1 through 4, is described in each of the following statements describing a data analytics application, a through h. Data Analytics 1. Descriptive analytics 2. Diagnostic analytics 3. Predictive analytics 4. Prescriptive analytics Data Analytic Statement Based upon the predicted supplies of inventory required for the next 12 months, the validation of a new supplier is recommended. b. 1 A report summarizes average sales per customer per month for the past 5 years. C. + Statistical analysis of purchases for a key supplier for the last 12 months is used to predict supplier purchases for the next 12 months. Determination of why a website had increased traffic was ascertained from the patterns discovered in external data sets. е. 3 Data on equipment usage was statistically analyzed to predict the asset's useful life under three different scenarios. f. 1 + Inventory levels by product per day for the past week are summarized. g. 2 A university summarized data on how often each room on campus was utilized during the day for a one-month period. h. 4 + Because of a university's predicted classroom usage based upon forecasted enrollment rates and historical usage, an option to lease excess capacity was suggested. 4 - m N m - N +
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Application of data analytics
Indicate which type of data analytics, 1 through 4, is described in each of the following statements describing a data analytics application, a through h.
Data Analytics
1. Descriptive analytics
2. Diagnostic analytics
3. Predictive analytics
4. Prescriptive analytics
Data Analytic Statement
а. 4
Based upon the predicted supplies of inventory required for the next 12 months, the validation of a new supplier is recommended.
b. 1
A report summarizes average sales per customer per month for the past 5 years.
С. 3
Statistical analysis of purchases for a key supplier for the last 12 months is used to predict supplier purchases for the next 12 months.
d. 2
Determination of why a website had increased traffic was ascertained from the patterns discovered in external data sets.
Data on equipment usage was statistically analyzed to predict the asset's useful life under three different scenarios.
* Inventory levels by product per day for the past week are summarized.
e. 3
f. 1
g. 2
A university summarized data on how often each room on campus was utilized during the day for a one-month period.
h. 4
Because of a university's predicted classroom usage based upon forecasted enrollment rates and historical usage, an option to lease excess capacity was suggested.
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