Do you think that the use of Statistics is important for a Business Analysis?
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Do you think that the use of Statistics is important for a Business Analysis?
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- What are the differences between descriptive, predictive, and prescriptive analytics? Explain in detail with examples how each of these can be useful in the current business world.Which of the following are the four important components in the definition of business statistics as a discipline? Hint: There are four correct answers. a. calculators b. certainty c. data d. uncertainty e. qualitative skills f. informed decision g. computer software h. quantitative skillsWhy is forecasting important to marketsegmentation?
- What exactly is business analytics, and what is its goal in terms of producing value from data?What changes would you make if you were in control of the iTunes store's database administration? Which methods of forecasting would you suggest employing predictive analytics for in order to ascertain which musical acts and films will have the biggest number of ticket sales in the next year?What are the principles of the forecasting process ?