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Analytics - (answer)A term describing the extensive use of data, statistical and quantitative analysis,
explanatory and predictive models, and fact-based management to drive decisions and actions.
Graphical Analysis Includes: - (answer)Histogram, Run Chart, Scatter Diagram, and Pareto Chart
Descriptive/diagnostic analytics includes: - (answer)Graphical analysis and discovery of patterns
What are Data Analytics? - (answer)Data, statistical and quantitative analysis, fact-based decisions
Discovery of Patterns Includes: - (answer)Sums, Averages and Percentages
Predictive analytic models include - (answer)Time Series Analysis (trends)
Regression
Statistical Quality Control
Simulation
Descriptive/Diagnostic Analytics - (answer)Encompasses the set of techniques that describes what has
happened in the past
Predictive Analytics - (answer)Consists of techniques that use models constructed from past data to
predict the future or ascertain the impact of one variable on another
Analytics encompasses: - (answer)Typically implies the analysis a very large data sets. Statistics or the
study of data analysis. Management science or the study of model building, optimization, and decision
making
Optimization models - (answer)determine optimal resource allocation to maximize or minimize specified
variables
, DATA-DRIVEN DECISION MAKING - WGU C207 TASK 1: ANALYZING NURSE TURNOVER
THROUGH LINEAR REGRESSION | 2025 WITH COMPLETE SOLUTIONS!!
What analytics decision is it when a builder elects to build fewer homes and more apartments based on
the risk of rising interest rates? - (answer)Prescriptive
What Type of analytics is it when you were looking at the mean math score of high school students? -
(answer)Descriptive
What type of analytics is completed when you look at new car sales that are projected to decrease by
3% in the new year? - (answer)Predictive
What does big data refer to? - (answer)Big data refers to both structured and unstructured data in large
volumes
What is analytics used for? - (answer)Analytics is used to discover and communicate meaning for
patterns and big data
What does analysis of big data require? - (answer)It requires a system of organization
What is the Davenport Kim three stage model - (answer)It is a model of quantitative decision making
that maps out a three stage approach to quantitative analysis
The davenport Kim three stage model includes - (answer)Framing the problem, solving the problem, and
communicating results
Framing the problem includes: - (answer)Problem recognition and review of previous findings
Solving the problem includes: - (answer)Choose the model, collect the data, analyze the data
Communicating results include: - (answer)Communicate results and act on results