Question Description
I'm working on a business discussion question and need a sample draft to help me learn.
Compare and contrast descriptive, predictive, and prescriptive analytical techniques. Give suitable examples.
Explanation & Answer
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Descriptive, Predictive, Prescriptive Analytic Techniques
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Descriptive, Predictive, Prescriptive Analytic Techniques
Descriptive analytics is used to annotate events that occurred in the past. An example of a
descriptive-analytic technique is the average duration taken by the customers to pay their bills.
Descriptive analytic products commonly appear in financial statements and corporate
presentations. Firms mostly use current and historical data to define the underlying patterns
(Logility, 2022). The descriptive analytic technique is sometimes referred to ...
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