What is the advantages of using predictive analyctics? Explain in 250 words. Say that it improves decision making, making competitive advantage, improves risk management, and others.
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What is the advantages of using predictive analyctics? Explain in 250 words. Say that it improves decision making, making competitive advantage, improves risk management, and others.
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- How do you say "predictive analysis," and what is it? Describe how this might be used.Consider the possibility of credit scoring being used in the prison system to decide who is to beallowed out for this 48-hour period.We need to consider how this might work.Specifically, consider this as a scorecard development and propose suitable definitions for:The applicant populationGood’s, Bad’s, and RejectsAlso, suggest eight (and quite different) characteristics for the scorecard development phasethat you think could be predictive and on which you would try to capture data.. Suppose that you are working as an analyst. Your task is to value company XYZ based on financial data available for this company. Discuss how you would go about doing this using themultiple growth rate Gordon growth model. Critically evaluate your approach by discussing any assumptions you make (about forecasts, discount rate etc.). What data is needed to value XYZ?
- Determine the type of business analytics for the following scenarios. A. Imagine you are a meteorologist. You have to foretell the weather for the next two weeks by analysing the data from the satellites. Here, you have to apply advanced statistical, information software, or operations research methods to identify predictive variables and build predictive models. Discuss in detail which type of business analytics will be suitable for this scenario.what is the standardized regression? what do the standardized regression weights or coefficients tell us about the ability of the predictors to predict the dependent variable?What are the basic assumptions in contrast to causal techniques when using predictive time series techniques?
- When conducting a sensitivity analysis using multiple estimates, the three estimates are usually:a. probabilistic, authentic, most likelyb. deterministic, most likely, optimisticc. pessimistic, strategic, realisticd. optimistic, pessimistic, most likelyExplain the advantage of using probabilistic timeestimatesWhat is producivity analysis? What is prescriptive data analytic model? How are the two related or how are they different? Give example of each.
- An information will be having predictive value if it can assist to: a. Predict the past b. Predict the present c. Predict the environment d. Predict the futurIf Mr. Ishaq is the Director of Lexus Company in Nizwa, what does he need to do to predict customer sales or product demand? a. Forecasting b. Marketing c. Production d. CoordinationAn information will be having predictive value if it can help to _____________. a. Predict the present b. Predict the environment c. Predict the past d. Predict the future