Business Studies, asked by bansalroshit6919, 10 months ago

When would descriptive and predictive results need additional analysis?

Answers

Answered by Anonymous
4

★ 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 .

___________________________

thanks

Answered by mindfulmaisel
0

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

Similar questions