I need help answering the following question How can predictive and prescriptive modeling be used to measure operational performance in real-time? How can i see a potential downsides to this application? Supporting response with specific examples.
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I need help answering the following question
How can predictive and prescriptive modeling be used to measure operational performance in real-time? How can i see a potential downsides to this application? Supporting response with specific examples.
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- Determine the type of business analytics for the following scenarios. A. Imagine you are a meteorologist. You have to foretell the weather for the next two weeks by analysing the data from the satellites. Here, you have to apply advanced statistical, information software, or operations research methods to identify predictive variables and build predictive models. Discuss in detail which type of business analytics will be suitable for this scenario.If descriptive analytics focuses on summarizing historical data to gain insights into past events and trends and predictive analytics focused on forecasting future outcomes. What is the significance of the relationship between the past and the future?Descriptive, Prescriptive, and Predictive Analytics, are methods used to determine outcomes for businesses. How are they different from each other? When are they used? Pretend that you are a Data Analyst in a company, how would you apply or used some of these methods?
- I need help setting up excel solver. I am not clear.For this final assignment I’d like you to call upon your knowledge of forecasting to help project your firm’s revenue stream for the upcoming year. In the Microsoft Excel that is attached to this assignment, you will find the past four years of quarterly revenue data for your nonprofit. Your revenue comes from two major sources: individual donations and donations from corporations. I’d like you to use the past four years’ worth of data to forecast the individual donations and donations for corporations for the next fiscal year (year 5 quarters 1-4). Once you have forecasted both individual revenue streams you can simply add them together to get your overall revenue forecast for the next fiscal year. Please discuss what forecasting method you chose and how you made your decision. You can do this in your excel document or write up a separate paragraph or two in a Microsoft Word document.1. How IS is different from IT? 2. What are Management Information Systems? 3. Which type of analysis is usually performed by decision support systems?
- Is there a difference between forecasting demand and forecasting sales? Can demand be forecast from historical sales data?When using evidence-based analytics in decision making, measurement is an essential tool in gauging progress. However, the leader needs to assess data based on the following consideration(s). Check All That Apply To what extent is the measurement an accurate representation of the success of the change initiative?To what extent is the measurement an accurate representation of the success of the change initiative? What is the relationship between the time of the measurement being reported and the timeframe over which the benefits of the change is expected to be delivered?What is the relationship between the time of the measurement being reported and the timeframe over which the benefits of the change is expected to be delivered? What are the components of the measurement being monitored e.g. internal and/or external environmental factors and to what extent are they relevant to the organizational change?What are the components of the measurement being monitored e.g. internal…Prompt 1: In the healthcare industry, everything is measured. From drip rates to dosages, it seems as though numbers are everywhere. But how does this reflect the care given to the patients? Which type of data (qualitative or quantitative) do you think yields the most information? Why? Which type of data (qualitative or quantitative) is most effective for forecasting future trends? Why? Which practices can a healthcare manager use to ensure that the data used for forecasting trends is accurate? Provide examples of data evaluation in different types of facilities. Provide examples of data evaluation for different types of issues, such as billing or loss of revenue.
- Explain qualitative forecasting methods that managers can use to predict future behavior in various aspects of a company's operations. Use the following guide: Conclusion Answer the following question: Are qualitative forecasts better predictors of outcomes than quantitative methods?Why yes or why not? Justify your answer.In this case study, we explore the meticulous planning and execution of a charity fundraising gala to support a local nonprofit organization. The gala aimed to raise funds for underprivileged children's education and healthcare. The organizing team faced the task of coordinating a luxurious evening event, complete with entertainment, fine dining, and silent auctions, all while staying within a limited budget. They also had to secure sponsorships, promote the event effectively, and ensure that all proceeds went directly to the cause. The study examines how the team managed to achieve their goals by leveraging volunteer support, creative cost-saving measures, and building partnerships with local businesses. Question: How did the organizing team balance the desire for an upscale gala with the need to maximize funds for the charity, and what strategies can be adapted for similar fundraising events with limited resources?What are the basic types of forecasts? What are their strengths and weaknesses?