and answers rated A+ 2025/2026
Analytics - correct answer ✔turning information into insight and developing conclusive fact-based
strategies to gain a competitive edge
Analytics ecompasses - correct answer ✔- extensive use of data, statistical, and quantitative analysis
and fact-based decisions
- stats or study of data analysis
- management science or study of modal building, optimization, and decision making
Descriptive/ Diagnostic Analystics - correct answer ✔encompasses the set of techniques that describes
what has happened in the past
Descriptive Analytics includes - correct answer ✔graphical anaylsis, discovery of patterns
Graphical Analysis - correct answer ✔histograms, run chart, scatter diagrams, pareto chart
Discovery of Patters - correct answer ✔sums, averages, percentages
Predictive Analytics - correct answer ✔techniques that use models constructed from past data to
predict the future or ascertain the impact of one variable oon another
Predictive Analytics tools - correct answer ✔models or the use of simulation
Models - correct answer ✔time analysis (trend), regressions, statistical quality control