What type of analytics would include a classification analysis to assess whether the bank should extend a loan?
A) Descriptive analytics
B) Diagnostic analytics
C) Predictive analytics
D) Prescriptive analytics

Question

Quizplus · Accepted Answer

Predictive analytics involves using statistical models and machine learning techniques to predict future outcomes, such as assessing the likelihood of a loan being repaid. Classification analysis is a common method used in predictive analytics to categorize data into different classes.

What Type of Analytics Would Include a Classification Analysis to Assess