What is predictive analytics?Question 8Answera.Analysis that looks at historical data to understand what happened in the pastb.Analysis that forecasts future outcomes based on existing and historical data setsc.Analysis that generalizes data to recommend actionsd.Analysis that looks at existing data to determine trends and patterns in the workforce
Question
What is predictive analytics?Question 8Answera.Analysis that looks at historical data to understand what happened in the pastb.Analysis that forecasts future outcomes based on existing and historical data setsc.Analysis that generalizes data to recommend actionsd.Analysis that looks at existing data to determine trends and patterns in the workforce
Solution
Predictive analytics refers to the use of data, statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data. The goal is to go beyond knowing what has happened to providing a best assessment of what will happen in the future. So, the correct answer is b. Analysis that forecasts future outcomes based on existing and historical data sets.
Similar Questions
What is predictive analytics?Question 7Answera.Using past data and additional inputs to organizational restructuringb.Using past data to plan for organizational goalsc.Using past data and additional inputs to predict possible future outcomesd.Using past data to identify how many males versus females were hired
What is predictive analytics?
Predictive analytics: Group of answer choicessummarizes data into meaningful charts and reports that can be standardized or customized.identifies the best alternatives to minimize or maximize an objective.uses data to determine a course of action to be executed in a given situation.detects patterns in historical data and extrapolates them forward in time.
Which type of analytics focuses on predicting future outcomes based on historical data and statistical models?(1 Point)a) Descriptive Analyticsb) Predictive Analyticsc) Prescriptive Analyticsd) Diagnostic Analytics
Predictive analytics involves taking historical data.TRUEFALSE
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