Advanced Analytics Focuses on Forecasting Future Trends and Producing Insights

question 86

True/False

Advanced analytics focuses on forecasting future trends and producing insights using sophisticated quantitative methods, including statistics, descriptive and predictive data mining, simulation, and optimization.

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Definitions:

Data Warehouse

A centralized repository for storing, managing, and analyzing large volumes of data from various sources within an organization.

Temporally Variant

Refers to something that changes over time or exhibits variations depending on temporal factors.

Access Database

Microsoft's database management system that merges the Microsoft Jet Database Engine, designed for relational databases, with a graphical user interface and development tools for software.

Criteria

Standards or rules by which something is judged or evaluated.