Business Intelligence - How does prescriptive analytics relate to descriptive

Business Intelligence

Subject: Business Intelligence

Questions & Answers and Exercises to be done for 40 marks. When submitting work, be sure to include an APA cover page and include at least two APA formatted references (and APA in-text citations) to support the work this week.

1. How does prescriptive analytics relate to descriptive and predictive analytics?

2. Explain the differences between static and dynamic models. How can one evolve into the other?

3. What is the difference between an optimistic approach and a pessimistic approach to decision making under assumed uncertainty?

4. Explain why solving problems under uncertainty sometimes involves assuming that the problem is to be solved under conditions of risk.

Exercise: Investigate via a Web search how models and their solutions are used by the U.S. Department of Homeland Security in the “war against terrorism.” Also investigate how other governments or government agencies are using models in their missions.

1. What is Big Data? Why is it important? Where does Big Data come from?

2. What do you think the future of Big Data will be? Will it lose its popularity to something else? If so, what will it be?

3. What is Big Data analytics? How does it differ from regular analytics?

4. What are the critical success factors for Big Data analytics?

5. What are the big challenges that one should be mindful of when considering implementation of Big Data analytics?

Exercise: Enter Humanyze.com. Review various case studies and summarize one interesting application of sensors in understanding social exchanges in organizations.