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Identify factors of competitive advantage

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Reference no: EM133175354

  1. Descriptive analytics: what has happened?
  2. Predictive analytics: what could happen in the future?
  3. Prescriptive analytics: what should we do?

Use bar, pie, histogram, pareto etc.

Modelling is an effective tool that allows managers to predict the effectiveness of making certain decisions, determine the choice of the best scenario, identify factors of competitive advantage in the market based on information about the industry, macroeconomic forecasts, and political decisions, which ultimately helps make strategically correct decisions. Think how the use of a model can help management to make the right decisions about the future results of the company by monitoring the current situation, identifying interdependencies and conflicts, optimizing results, and organizing time and action plans.

Reference no: EM133175354

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