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.

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Definitions:

BPI

Business Process Improvement, a systematic approach to help any organization optimize its underlying processes to achieve more efficient results.

BPR

Business Process Reengineering (BPR) involves the radical redesign of core business processes to achieve dramatic improvements in productivity, cycle times, and quality.

Porter's Five Forces

A framework for analyzing an industry's competitiveness and potential profitability through five forces: competitive rivalry, bargaining power of suppliers, bargaining power of buyers, threat of new entrants, and threat of substitute products.

Web

A system of interconnected documents and resources, linked by hyperlinks and URLs, accessible over the Internet.