Prescriptive Analytics Use Techniques That Create Models Indicating the Best

question 224

True/False

Prescriptive analytics use techniques that create models indicating the best decision to make or course of action to take.

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Definitions:

Marketing Mix

The strategic set of actions that a company uses to promote its brand or product in the market, involving variations of product, price, promotion, and place strategies.

Marketplace

Any venue, physical or digital, where goods, services, or information are exchanged between buyers and sellers.

Consumer's Needs

The fundamental requirements that customers seek to satisfy when they purchase goods or services.

Exchange

The trade of things of value between the buyer and the seller so that each is better off as a result.