What is prescriptive analytics?Question 4Answera.Recommends why something happened based on analyzed datab.Provides a number of employees hired in a timeframec.Recommends possible hiring trends based on analyzed datad.Recommends multiple courses of action based on the analyzed data
Question
What is prescriptive analytics?Question 4Answera.Recommends why something happened based on analyzed datab.Provides a number of employees hired in a timeframec.Recommends possible hiring trends based on analyzed datad.Recommends multiple courses of action based on the analyzed data
Solution
The correct answer is d. Prescriptive analytics recommends multiple courses of action based on the analyzed data. This type of analytics not only anticipates what will happen and when it will happen, but also why it will happen. Further, prescriptive analytics suggests decision options on how to take advantage of a future opportunity or mitigate a future risk and shows the implication of each decision option.
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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