Survey the literature from the past six months to find one application each of DSS, BI, and analytics. Summarize the applications on one page and submit it with the exact sources. Compare and contrast predictive analytics with prescriptive and descriptive analytics. Use examples. Go to teradatauniversitynetwork.com and find the paper titled “Data Warehousing Supports Corporate Strategy at First American Corporation” (by Watson, Wixom, and Goodhue). Read the paper, and answer the following questions:   What were the drivers for the DW/BI project in the company? What strategic advantages were realized? What operational and tactical advantages were achieved? What were the critical success factors for the implementation?

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Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.