Which of the following techniques involves the use of optimization methods to provide new and better ways to operate based on specific business objectives?
A)descriptive analytics
B)prescriptive analytics
C)predictive analytics
D)quantitative analysis
E)qualitative analysis

Question

Quizplus · Accepted Answer

Prescriptive analytics refers to using optimization methods to provide new and better ways to operate based on specific business objectives. Descriptive analytics describe past events, predictive analytics forecast future events, quantitative analysis involves using numerical data to make decisions, and qualitative analysis involves using non-numerical data to make decisions.

Which of the Following Techniques Involves the Use of Optimization