When would descriptive and predictive results need additional analysis?
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★ Explanation ★
With the flood of data available to businesses regarding their supply chain these days, companies are turning to analytics solutions to extract meaning from the huge volumes of data to help improve decision making .
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The descriptive and predictive results requires a predictive or the descriptive model with two additional components that are the actionable data and a system of feedback that tracks the outcome produced by the action taken. It would give a better result in understanding the large quantities of data for decision making.
Explanation:
- The descriptive analysis gives an insight into the past performance of a business.
- The descriptive analytics provide reports with in historical insights regarding the company’s production, financials, operations, sales, finance, inventory and customers.
- The predictive analysis is used for understanding the future. The predictive analysis help in forecasting the demand for inputs from the supply chain, operations and inventory
- The companies are moving towards analytics solutions for extracting the meaning from the huge volumes of data to help improve decision making.
To know more about descriptive analysis
Difference between descriptive analysis and inferential analysis
https://brainly.in/question/3917364
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