Read the statements below and identify which type of analytics each statement requires. (Descriptive Analytics /Predictive Analytics/ Prescriptive Analytics) Decision Descriptive Analytics /Predictive Analytics/ Prescriptive Analytics Which candidate will win the election? What price for a product will maximize profit? How much money do I need to save each year to have enough money for retirement? How many products were sold last year? What is the best route for the delivery person to drop off packages to minimize the time needed to deliver all the packages? How many customers do we have and where are they located?
Read the statements below and identify which type of analytics each statement requires. (Descriptive Analytics /Predictive Analytics/ Prescriptive Analytics) Decision Descriptive Analytics /Predictive Analytics/ Prescriptive Analytics Which candidate will win the election? What price for a product will maximize profit? How much money do I need to save each year to have enough money for retirement? How many products were sold last year? What is the best route for the delivery person to drop off packages to minimize the time needed to deliver all the packages? How many customers do we have and where are they located?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
Transcribed Image Text:Read the statements below and identify which type of analytics each statement requires.
(Descriptive Analytics /Predictive Analytics/ Prescriptive Analytics)
Decision
Descriptive Analytics /Predictive
Analytics/ Prescriptive Analytics
Which candidate will win the election?
What price for a product will maximize profit?
How much money do I need to save each year to have
enough money for retirement?
How many products were sold last year?
What is the best route for the delivery person to drop off
packages to minimize the time needed to deliver all the
packages?
How many customers do we have and where are they
located?
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