can work on the same problem at the same time. Each node works on its own data, requiring only the requests and responses to be transmitted over the network. 3. For each of the situations described below, select the type of analytics that would address the specific organizational need and justify your selection. (8pts) a. A mid-sized bank would like to provide as much automated support for its lending decisions as possible. Prescriptive analytics . The key phrase here is “automated support” – prescriptive analytics provides results that are guiding an organization’s (or individual’s) actio ns in a specific way. b. A large retail chain wants to understand what factors contributed to the overall sales decline it experienced in a specific month in the past. Descriptive analytics. This is a typical historical analysis situation.
c. To support staffing analysis for a holiday season, a clothing store wants to improve its understanding of the number of customers that are likely to visit each of its stores during the November 15 – January 15 time frame. Predictive analytics. Here the focus is on the future and the task is predictive in nature. d. A gaming company wants to provide all of its employees an up-to-date graphical representation of the number of downloads of its game products and in-app revenue associated with them. Descriptive analytics. This is historical data provided using typical analytical tools.
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- Data Mining