fradenaneely fradenaneely

25-06-2024
Business

Answered

Which of the following statements is not correct?

A. Summarizing performance measures from large data sets is an example of predictive analytics.
B. Formulating a plan of action based on large data sets and algorithmic outputs is an example of prescriptive analytics.
C. Calculating click-through rate for your online customers viewing your webpage is an example of descriptive analytics.
D. Setting the optimal pricing scheme to maximize revenue for a hotel is an example of prescriptive analytics.

Answer :

GinnyAnswer GinnyAnswer

25-06-2024

Final answer:

Descriptive analytics summarizes historical data, while prescriptive analytics involves recommending actions based on data insights.

Explanation:

Descriptive analytics involves summarizing historical data to understand past performance without predicting future outcomes. Calculating the click-through rate for online customers is an example of descriptive analytics, not predictive analytics.

Prescriptive analytics focuses on recommending actions based on data insights. Setting the optimal pricing scheme for a hotel to maximize revenue falls under prescriptive analytics, as it involves formulating a plan of action based on data and algorithmic outputs.

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