What Statement Best Describes What Prescriptive Analysis Is Used For

question 16

Multiple Choice

What statement best describes what prescriptive analysis is used for?

• A) To uncover explanatory and predictive models of business performance based on the relationship between data inputs and business outcomes.
• B) To understand business performance.
• C) To extract patterns from large datasets.
• D) To determine a set of high-value alternative actions for the purposes of improving business performance.
• E) To determine if a customer can be cross-sold or up-sold a product at the point of purchase.

---

Definitions:

Distinctiveness

Refers to how much an object or person stands out as compared to others in the same category or environment.

Consistency

The quality of achieving a level of performance which does not vary greatly in quality over time.

Frequency

In general terms, the rate at which something occurs over a particular period of time or in a given sample.

Actor-observer Bias

A cognitive bias that affects the way we attribute causes to our own behaviors versus those of others, often attributing our own actions to situational factors while attributing others' actions to their personality or character.