The business analytics technique that answers this question is called descriptive analytics as it provides a summary of historical data. 2. Next comes the question ‘why did it happen’. The business analytics technique that helps to understand this is called diagnostic analytics.
What are business analytics quizlet?
Business Analytics. – the practice and art of bringing quantitative data to bear on decision making. Business Intelligence. – Data visualization and reporting for understanding “what happened and what is happening.”
Which business analytics is used to understand past and current performance?
Key Takeaways Descriptive analytics is the process of parsing historical data to better understand the changes that have occurred in a business. Using a range of historic data and benchmarking, decision-makers obtain a holistic view of performance and trends on which to base business strategy.
Is a key activity performed by operations managers?
Service encounter design is a key activity performed by operations managers that involves: managing the flow of materials, information, people, and money from suppliers to customers. b. predicting the future demand for raw materials, finished goods, and services.
What is the meaning of business analytics?
Business Analytics is the process by which businesses use statistical methods and technologies for analyzing historical data in order to gain new insight and improve strategic decision-making.
What are the different types of business analytics?
Descriptive, predictive and prescriptive: three types of business analytics
- Descriptive, predictive and prescriptive analytics.
- Descriptive analytics.
- Predictive analytics.
- Prescriptive analytics.
- A data-led future.
What are examples of diagnostic analytics?
An example of Diagnostic Analytics would be the HR department seeking to find the right candidate to fill a position, select and compare with other comparable positions to test performance.
What type of data analytics is more for optimization?
Prescriptive analytics, when used effectively, provides invaluable insights in order to make the best possible, data-based decisions to optimise business performance.
Which type of analytics would you use to better understand what should you do?
Diagnostic Analytics helps you understand why something happened in the past. Predictive Analytics predicts what is most likely to happen in the future. Prescriptive Analytics recommends actions you can take to affect those outcomes.
What is the core process?
Core processes are those processes of an organization whose object is the production of goods or provisioning of services to the customers.
Which of the following is a quality performance measure at an operational level?
Customer ratings of goods and services are quality performance measurements at an operational level. Employee satisfaction and employee turnover are examples of flexibility measures at an organizational level.
Is a financial performance measure at an operational level?
s a financial performance measure at an operational level. refers to the measurement of environmental, social, and economic sustainability. The customer satisfaction measurement system uses _______ to determine the relationship between customer ratings and a customer’s likely future buying behavior.
Which statement identifies a difference between goods and services?
A good is a tangible or physical product that someone will buy, tangible meaning something you can touch, and a service is when you pay for a skill. A service is something intangible, which can’t be physically touched or stored.
Is an organization’s commitment to maintain healthy communities and a society that improves the quality of life?
* Social sustainability: Organization’s commitment to maintain healthy communities and a society that improves the quality of life.
How might capacity decisions affect a business that is reliant on speed of service select the best answer?
How might capacity decisions affect a business that is reliant on speed of service? Capacity should match the maximum demand for the service so overall there is no shortage at the end of the time period.