Class 21 Flashcards
1
Q
strategies and tactics fall into two categories
A
offensive and defensive
2
Q
3 defensive strategies
A
- watch your cash
- review inventory replenishment
- reduce expenses
3
Q
business analytics is a combination of what two applications?
A
GPS and MapQuest
4
Q
descriptive analytics answers…
A
what has happened?
5
Q
predictive analytics answers…
A
what will happen
6
Q
prescriptive analytics answers…
A
what should happen?
7
Q
two primary approaches for prescriptive business analytics
A
- simulation
- optimization
8
Q
benefits of prescriptive analytics (6)
A
- improve performance
- increase efficiency
- maximize ROI
- drive agility
- mitigate risk
- address new planning challenges
9
Q
business analytics is not… (4)
A
- autopilot for companies
- substitute for knowledge and experience
- infallible “garbage in-garbage-out”
- a decision maker
