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What are the prescriptive models in business analytics

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Reference no: EM133262608

(a) What are the prescriptive models in business analytics? How do prescriptive models differ from predictive models? Give a real world example of a prescriptive model and explain why it is not a predictive model. Explain in at least eight sentences.

(b) What are the data queries in Excel? Give a real world example where using a data query is useful. Answer in at least eight sentences.

(c) What is a clustered column chart? What is a stacked column chart? What is the difference between a clustered column chart and a stacked column chart? Which one of these two types of chart do you prefer? Explain the reason for your preference.

(d) Explain the basic concept of discriminant analysis. Give a real world example when this approach is useful. Explain in at least eight sentences.

(e) What are the error metrics in forecasting techniques? Why are they useful? Explain in at least eight sentences.

Reference no: EM133262608

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