A _____ System Is Often Used to Search for Patterns

question 32

Multiple Choice

A _____ system is often used to search for patterns or relationships in the data.

• A) routine decision making
• B) strategic decision making
• C) transaction processing
• D) decision support
• E) None of the above.

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Definitions:

Time Series

An array of data elements, usually made up of ongoing recordings measured throughout a specific duration.

Forecast Accuracy

The degree of closeness between predicted values and actual values in forecasting.

Tracking Signal

A metric in inventory management that measures the accuracy of forecast demand against actual demand.

Adaptive Smoothing

A forecasting technique that adjusts the smoothing constant based on the accuracy of previous forecasts.