Explain the role that analytics plays in the modern business environment

Question # 00862407 Posted By: wildcraft Updated on: 10/24/2024 11:03 PM Due on: 10/25/2024
Subject Business Topic General Business Tutorials:
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This week’s required readings explain the role that analytics plays in the modern business environment. Consider the following questions and respond in a minimum words:

  • How is data analytics different rom statistics?
  • Analytics tools fall into 3 categories:descriptive, predictive, and prescriptive. What are the main differences among these categories?
  • Explain how businesses use analytics to convert raw operational data into actionable information Provide at least 1 example.
  • Consider the organization you work  for Social Security (or another organization you’re familiar with). Does this organization use data analytics?If so, how is it used? If not, how  could the organization use data analytics to improve its performance?
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