Which of the following techniques involves the use of optimization methods to provide new and better ways to operate based on specific business objectives?
A)descriptive analytics
B)prescriptive analytics
C)predictive analytics
D)quantitative analysis

Question

Quizplus · Accepted Answer

This technique is called prescriptive analytics. Descriptive analytics involves analyzing historical data to understand what has happened in the past. Predictive analytics involves using statistical modeling and machine learning to predict what might happen in the future. Quantitative analysis involves using numerical data to draw conclusions and make decisions. Therefore, prescriptive analytics is the best choice because it involves optimization methods to provide new and better ways to operate based on specific business objectives.

Which of the Following Techniques Involves the Use of Optimization