Quiz on Prescriptive Analytics

What is the main question that Prescriptive Analytics aims to answer?

• What happened?

• Why did it happen?

• What will happen?

• What should be done?

Which of the following techniques is commonly used in Prescriptive Analytics?

• Graph analysis

• Neural networks

• Simulation

• All of the above

Prescriptive Analytics can provide recommendations based on data. Which of the following is an example of a recommendation made using prescriptive analytics?

• A recommendation for optimizing supply chain routes

• A visualization of sales performance over time

• A prediction of next month's sales figures

• A list of recent customer transactions

In Sales, Prescriptive Analytics can be used for which of the following purposes?

• Lead Scoring

• Credit Scoring

• Data Storage

• Web Scraping

Prescriptive Analytics helps in the detection and prevention of fraud in which sector?

• Manufacturing

• Banking

• Retail

• Education

In Content Curation, which type of analytics is used to make algorithmic recommendations, such as recommending YouTube videos based on past behaviors?

• Descriptive Analytics

• Diagnostic Analytics

• Prescriptive Analytics

• Predictive Analytics

Email Automation in marketing is an example of which type of analytics?

• Predictive Analytics

• Diagnostic Analytics

• Prescriptive Analytics

• Descriptive Analytics

Which of the following is a benefit of Prescriptive Analytics for business leaders?

• Allows business users to draw insights without relying on data scientists

• Provides past trends and historical data

• Organizes unstructured data

• Eliminates the need for operational data

Prescriptive Analytics can help increase organizational agility by:

• Minimizing the use of external consultants

• Analyzing routine decisions in real-time

• Reducing manual data entry

• Providing static reports

Optimization in Prescriptive Analytics can have which impact on operations?

• It increases overhead costs.

• It maximizes the return from system design while managing risk.

• It reduces operational performance.

• It eliminates the need for data.