Question

1. Which of these is true about Business Analytics:

1. Organizations must use all these techniques necessarily in order

2. Organizations don’t require adequate volumes of high-quality data for accurate outcomes

3. Organizations may use all these techniques not necessarily in order

4. Organizations require adequate volumes of high-quality data for accurate outcomes

Answer 1

The correct answer is Organizations may use all these techniques not necessarily in order.

Business analytics is the constant study of an organization’s data, that focus on requesting techniques of statistical analysis disclose information which can help handle innovation and financial performance.
"Descriptive analytics" response the question, "What has happened?” This kind of analytics estimates historical data for perceptions on how to organise the future plan.
"Predictive analytics" is the other step on the way to perception. It makes use of "machine learning" and "statistical techniques" to help businesses forecast the possibility of future plans.
"Prescriptive analytics" investigates feasible actions to take based on the results of illustrative and predictive analysis.
Organizations may use any or all of these techniques, though not necessarily in this order.