List and describe three levels or categories of analytics that are most often viewed as sequential and independent, but also occasionally seen as overlapping
What will be an ideal response?
• Descriptive or reporting analytics refers to knowing what is happening in the organization and understanding some underlying trends and causes of such occurrences.
• Predictive analytics aims to determine what is likely to happen in the future. This analysis is based on statistical techniques as well as other more recently developed techniques that fall under the general category of data mining.
• Prescriptive analytics recognizes what is going on as well as the likely forecast and make decisions to achieve the best performance possible.
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Answer the following statement true (T) or false (F)