Predictive Analytics Refers to

question 89

Multiple Choice

Predictive analytics refers to

• A)using an approach to understand what has happened
• B)focusing on what is likely to happen
• C)determining what should be done in the future
• D)identifying what changes should happen

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Definitions:

Increase Profitability

Strategies or actions aimed at enhancing a company's financial gains by increasing revenue, reducing costs, or both.

Operate Efficiently

The ability of an organization to maximize outputs while minimizing inputs and waste.

Maintain Price

The strategy or practice of keeping the price of a product or service at a certain level, often to manage competition or market perception.

Identifying Potential Customers

The process of analyzing the market to determine who the target audience is for a product or service, often involving demographic and psychographic research.