The three categories of business analytics.

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Answer 1

Question

Chapter G, Problem 1DQ

Summary Introduction

To determine: The three categories of business analytics.

Expert Solution & Answer

Explanation of Solution

Determine the three categories of business analytics:

Descriptive, predictive, and prescriptive are the three categories of business analytics. In descriptive category, the data would be characterized and summarized in order to facilitate the understanding. Data analysis is an example for descriptive business analytics.

In predictive category, the past data will be analyzed to predict the future. Forecasting is an example for predictive business analytics.

In prescriptive category, the advanced optimization tools will be summoned to recommend a strategy. Linear programming is an example for prescriptive business analytics.

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Answer 2

Question

Chapter G, Problem 1DQ

Summary Introduction

To determine: The three categories of business analytics.

Expert Solution & Answer

Explanation of Solution

Determine the three categories of business analytics:

Descriptive, predictive, and prescriptive are the three categories of business analytics. In descriptive category, the data would be characterized and summarized in order to facilitate the understanding. Data analysis is an example for descriptive business analytics.

In predictive category, the past data will be analyzed to predict the future. Forecasting is an example for predictive business analytics.

In prescriptive category, the advanced optimization tools will be summoned to recommend a strategy. Linear programming is an example for prescriptive business analytics.

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Answer 3

Question

Chapter G, Problem 1DQ

Summary Introduction

To determine: The three categories of business analytics.

Expert Solution & Answer

Explanation of Solution

Determine the three categories of business analytics:

Descriptive, predictive, and prescriptive are the three categories of business analytics. In descriptive category, the data would be characterized and summarized in order to facilitate the understanding. Data analysis is an example for descriptive business analytics.

In predictive category, the past data will be analyzed to predict the future. Forecasting is an example for predictive business analytics.

In prescriptive category, the advanced optimization tools will be summoned to recommend a strategy. Linear programming is an example for prescriptive business analytics.

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Answer 4

Question

Chapter G, Problem 1DQ

Summary Introduction

To determine: The three categories of business analytics.

Expert Solution & Answer

Explanation of Solution

Determine the three categories of business analytics:

Descriptive, predictive, and prescriptive are the three categories of business analytics. In descriptive category, the data would be characterized and summarized in order to facilitate the understanding. Data analysis is an example for descriptive business analytics.

In predictive category, the past data will be analyzed to predict the future. Forecasting is an example for predictive business analytics.

In prescriptive category, the advanced optimization tools will be summoned to recommend a strategy. Linear programming is an example for prescriptive business analytics.

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Answer 5

Chapter G, Problem 1DQ

Summary Introduction

To determine: The three categories of business analytics.

Expert Solution & Answer

Explanation of Solution

Determine the three categories of business analytics:

Descriptive, predictive, and prescriptive are the three categories of business analytics. In descriptive category, the data would be characterized and summarized in order to facilitate the understanding. Data analysis is an example for descriptive business analytics.

In predictive category, the past data will be analyzed to predict the future. Forecasting is an example for predictive business analytics.

In prescriptive category, the advanced optimization tools will be summoned to recommend a strategy. Linear programming is an example for prescriptive business analytics.

Answer 6

Chapter G, Problem 1DQ

Summary Introduction

To determine: The three categories of business analytics.

Expert Solution & Answer

Explanation of Solution

Determine the three categories of business analytics:

Descriptive, predictive, and prescriptive are the three categories of business analytics. In descriptive category, the data would be characterized and summarized in order to facilitate the understanding. Data analysis is an example for descriptive business analytics.

In predictive category, the past data will be analyzed to predict the future. Forecasting is an example for predictive business analytics.

In prescriptive category, the advanced optimization tools will be summoned to recommend a strategy. Linear programming is an example for prescriptive business analytics.

Answer 7

Chapter G, Problem 1DQ

Summary Introduction

To determine: The three categories of business analytics.

Answer 8

Expert Solution & Answer

Explanation of Solution

Determine the three categories of business analytics:

Descriptive, predictive, and prescriptive are the three categories of business analytics. In descriptive category, the data would be characterized and summarized in order to facilitate the understanding. Data analysis is an example for descriptive business analytics.

In predictive category, the past data will be analyzed to predict the future. Forecasting is an example for predictive business analytics.

In prescriptive category, the advanced optimization tools will be summoned to recommend a strategy. Linear programming is an example for prescriptive business analytics.