Which of the following techniques involves the study and consolidation of historical data for a business and an industry?
A)descriptive analytics
B)prescriptive analytics
C)predictive analytics
D)management science

Question

Quizplus · Accepted Answer

Descriptive analytics involves analyzing historical data to gain insights into past performance and trends. It is used to understand what has happened in the past and to identify patterns and relationships between different variables. This information can then be used to inform future decision-making. Prescriptive analytics is focused on providing recommendations for the best course of action, while predictive analytics involves using data to make predictions about future outcomes. Management science is a broader field that encompasses various analytical techniques used to solve business problems.

Which of the Following Techniques Involves the Study and Consolidation