WGU C207 Data-Driven Decision Making Questions and Answers (2024 / 2025) (Verified Answers)PDF

1. Define analytics ANS Turning information into knowledge and developing fact based strategies to gain a competitive edge. 2. Descriptive/Diagnostic analytics ANS Encompasses the set of techniques that de- scribes what has happened in the past. 3. Predictive analytics ANS Consists of techniques that use models constructed from past data to predict the future or ascertain the impact of one variable on another. 4. Prescriptive analytics ANS Decision models that indicate the best course of action to take. 5. Three characteristic of big data ANS 1. Structured and unstructured large volumes 2. Analytics is used to discover and communicate meaningful patterns 3. Analysis of big data requires a system of organization Davenport-Kim Three-Stage Model* ANS A decision-making model developed by Thomas Davenport and Jinho Kim that consists of three stages