Overview chapter 1

Question 1

Prescriptive analytics is also called ________ or ______

Answer 1

decision or normative analytics

Question 2

What questions do prescriptive analytics give answer to?

Answer 2

What should I do and Why should I do that?

Question 3

What questions do Predictive analytics give answer to?

Answer 3

What will happen and why will it happen?

Question 4

What questions do descriptive analytics give answer to?

Answer 4

What happened? What is happening?

Question 5

What is the outcome of descriptive analytics?

Answer 5

Well defined

• business problem
• opportunity

Question 6

What is the outcome of predictive analytics?

Answer 6

Acuurate projections of future events and outcomes

Question 7

What is the outcome of prescriptive analytics?

Answer 7

best possible decision and actions

Question 8

What is the enabler of descriptive analytics?

Answer 8

business reporting
dashboards
scorecards
data warehousing

Question 9

What is the enabler of predictive analytics?

Answer 9

data miners
text miners
web miners
forecasting

Question 10

What is the enabler of prescriptive analytics?

Answer 10

Simulation
Optimization
decision models
expert systems