What are the prescriptive models in business analytics

Assignment Help Operation Management
Reference no: EM133276792

Assignment:

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: EM133276792

Questions Cloud

What mechanism would be most effective for communicating : What mechanism would be most effective for communicating with employees before the crisis? Briefly give your reasoning.
Concept of capability index : Explain the concept of "capability index", mentioning the main use of this indicator in companies.
Explain the market research process : Explain the market research process and discuss how you would conduct market research that service.
Functions of management planning : Based on the link above, it is mentioned that these 4 management functions are applicable for all industries. Do you agree or disagree with this statement?
What are the prescriptive models in business analytics : What are the prescriptive models in business analytics? How do prescriptive models differ from predictive models?
Compare role between a leader-a manager in an organization : In what way your immediate supervisor can be regarded as a leader or a manager in your organization. Elaborate your answer with appropriate examples.
Identify top 4 challenges about socially : Identify top 4 challenges about socially and environmental operation management from 3 countries except Singapore.
How is the output of a standard breakeven analysis model : How is the output of a standard breakeven analysis model interpreted to yield the make-or-buy decision? What critical strategic factors.
Find an expression for the steady state value of capital : Find an expression for the steady state value of capital per worker k* as a function of exogenous variables. Show your work

Reviews

Write a Review

Operation Management Questions & Answers

  What is performance measurement and continuous improvement

What is performance measurement and continuous improvement? How should organizations incorporate both of these concepts into their lean systems strategy?

  Translate messages simultaneously into specified languages

Acme Corporation is hiring a translator. The job advertisement reads, in part, “In meetings, translate messages simultaneously into specified languages with a high degree of accuracy while dealing with difficult people who are frustrated by their lac..

  What about the telecommuters

What about the telecommuters? How big has Telecommuting become? Do you think telecommuters are collaborators? What are the Pro's and Con's to this new breed of worker?

  Traditional growth and profit-maximization model

The four pillars of corporate sustainability is evolving concept that managers are adopting as alternative to traditional growth and profit-maximization model

  Write on the scope management process

Write on the scope management process and highlight on plan scope management plan, collect requirement, define scope.

  Describe the penalties for violating these regulations

Identify three federal agencies and two state agencies that address business matters. For each agency: 1. Give a description of the agency- this should include what the agency was created for, what the agency regulates, etc, 2. List at least two regu..

  Conflict for individual and team relationships

Since violated expectations often lead to conflict for individual and team relationships, explain some of the most common expectations that leaders and subordinates often violate. Share personal work-related or community-based examples to solidify yo..

  Disadvantages to outsourcing the human resource function

Discuss the advantages and disadvantages to outsourcing the Human Resource function. In your opinion which option do you think is best and why?

  What are the elements of negligence found in this case

What are the forms of negligence seen in this case? Explain. What are the elements of negligence found in this case? Explain.

  Describe some of the problems experienced by repatriates

Describe some of the problems experienced by repatriates (people returning from abroad) and how training and development might alleviate them?

  Company is planning to conduct survey research

Your company (or your class) is planning to conduct survey research and needs to select an online survey tool to use.

  Embedding improvement mindset through daily work management

The steps to take to address the issues of safety, skill, and strain are as follows:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd