What are the main differences between descriptive, predictive, and prescriptive analytics tools?
Utilizing statistical and data analytic frameworks, you will be able to evaluate and analyze the role big data plays in business decision-making. You will also demonstrate the ability to analyze and graphically describe key business data in Excel, allowing business leaders to achieve a competitive advantage.
Reflection
Consider the following:
How is data analytics different from statistics?
What are the main differences between descriptive, predictive, and prescriptive analytics tools?
How do businesses use analytics to convert raw operational data into actionable information?
Reflect on the following in a minimum of 500 words.
Think about the organization you work for (or any other organization you are familiar with). Does the organization use data analytics?
If so, how is it used? How can the organization improve the way it uses data analytics? What opportunities is the organization missing out on?
If not, how could data analytics be used to improve the organizations’ performance?
Answer preview What are the main differences between descriptive, predictive, and prescriptive analytics tools?
APA
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