What is prescriptive analytics?Question 1Answera.Provides a number of employees hired in a timeframeb.Recommends multiple courses of action based on the analyzed datac.Recommends possible hiring trends based on analyzed datad.Recommends why something happened based on analyzed data
Question
What is prescriptive analytics?Question 1Answera.Provides a number of employees hired in a timeframeb.Recommends multiple courses of action based on the analyzed datac.Recommends possible hiring trends based on analyzed datad.Recommends why something happened based on analyzed data
Solution
The answer is b. Prescriptive analytics recommends multiple courses of action based on the analyzed data. It uses optimization and simulation algorithms to advise on possible outcomes. The prescriptive model uses an understanding of what has happened, why it has happened and a variety of "what-might-happen" scenarios to help users understand which course of action to take.
Similar Questions
What is prescriptive analytics?
Which of the following statements about Prescriptive Analytics is FALSE?Select one:a. It relies on historical data and models.b. It provides recommendations for future actions.c. It is mainly used for summarizing past performance.d. It can be used to optimize engineering processes.
What is the main goal of Prescriptive Analytics?Diagnosing past failures.Understanding data patterns.Recommending actions to achieve desired outcomes.Predicting the stock market
How does decision optimization in prescriptive analytics help businesses? A. It provides an overview of past decisions. B. It suggests optimal resource allocation to achieve maximum profitability. C. It predicts future customer behaviors. D. It simply identifies business risks.
How does Predictive Analytics differ from Prescriptive Analytics?It tells what will happen in the future.It suggests ways to handle a possible future scenario.It examines the root causes of an event.It provides current data visualizations
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