- Study guides, Class notes & Summaries

Analytics is a broad term that refers to a variety of tools that inform managerial decisions. - Answer- Prescriptive What are two reasons for the increasing use of analytics in organizational decision making? - Answer- Relatively lower cost of computer storage Higher computer processing power In what way does probability theory inform decision-making for managers? - Answer- By quantifying risk Which type of data are the Olympic medals of gold, silver, and bronze examples of? - Answer- ...