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MCQs | Big Data Analytics – Prescriptive Analytics

Big Data Analytics | Prescriptive Analytics MCQs: This section contains the Multiple-Choice Questions & Answers on Big Data Analytics - Prescriptive Analytics with explanations.
Submitted by IncludeHelp, on December 31, 2021

1. Prescriptive analytics gathers data from descriptive and predictive sources.

  1. True
  2. False

Answer: A) True

Explanation:

Using prescriptive analytics, data is gathered from a number of both descriptive and predictive sources for the development of models, which are then used to the decision-making process. As part of this process, present conditions are combined and the ramifications of each decision are considered in order to assess how the future will be affected.


2. Prescriptive analytics makes the use of machine learning to help ____ to decide a course of action based on a computer program's predictions.

  1. Business organizations
  2. System development
  3. Employees development
  4. All of the mentioned above

Answer: A) Business organizations

Explanation:

Prescriptive analytics is the application of machine learning to assist business organizations in determining the best course of action based on predictions made by a computer program. Prescriptive analytics is used in conjunction with predictive analytics, which uses data to forecast outcomes in the near future. The use of prescriptive analytics can assist organizations in making decisions based on facts and probability-weighted estimates rather than making snap decisions based on intuition.


3. Prescriptive analytics is the final phase of business analytics.

  1. True
  2. False

Answer: A) True

Explanation:

Prescriptive analytics is the third and final phase of business analytics, which comprises the phases of descriptive and predictive analytics, respectively. Prescriptive analytics is the application of mathematical and computer sciences to a problem and the recommendation of choice options that take advantage of the results of descriptive and predictive analytics, among other things.


4. The ability to model prices on a variety of factors allows them to make ______ about production, storage, and new discoveries.

  1. No decisions
  2. Better decisions
  3. Unpredictable things
  4. None of the mentioned above

Answer: C) Unpredictable things

Explanation:

They can make better decisions about production, storage, and new discoveries since they have the ability to model prices based on a range of parameters, including supply and demand. Furthermore, both prescriptive and predictive analytics are useful for managing equipment and maintenance in the manufacturing industry, as well as for making better judgments about drilling and exploration areas and other aspects of business operations.


5. Amongst which of the following is / are the goodness of prescriptive analytics,

  1. Exhausting valuable resources on housing data that does not inform business decisions
  2. Spending time sifting through unutilized data sets
  3. Missing out on unique revenue streams and insights
  4. All of the mentioned above

Answer: D) All of the mentioned above

Explanation:

Prescriptive analytics is one option that can assist our company in identifying data-driven strategic decisions and avoiding the limitations of standard data analytics practices, such as: expending valuable resources on housing data that does not inform business decisions, and wasting time and resources on data that does not inform business decisions. It is a waste of time to trawl through underutilized data sets and miss out on potentially lucrative revenue streams and insights.


6. Prescriptive analytics is a process that _____ and provides instant recommendations on how to optimize business practices.

  1. Analyzes data
  2. Data storage
  3. Data ingestion
  4. None of the mentioned above

Answer: A) Analyzes data

Explanation:

As a process, predictive analytics examines data and delivers quick advice on how to optimize company procedures to accommodate a variety of projected events.


7. Prescriptive analytics utilizes business rules, artificial intelligence, and ____ to simulates various approaches to these numerous outcomes.

  1. Algorithms
  2. Flowchart
  3. System flow
  4. None of the mentioned above

Answer: A) Algorithms

Explanation:

Using similar modelling structures to anticipate outcomes, predictive analytics employs a combination of machine learning, business rules, artificial intelligence, and algorithms to simulate a variety of approaches to the different outcomes that can be predicted.


8. With prescriptive analytics, businesses spend less time poring over spreadsheets and more time using informed data to create the processes.

  1. True
  2. False

Answer: A) True

Explanation:

Businesses may spend less time poring through spreadsheets and more time using informed data to develop the processes and messaging that will set them apart from their competition.


9. Effective _____ prescriptive data tools can help businesses using informed data to create the processes and for managing and analyzing data anytime and anywhere.

  1. Cloud-based
  2. Data warehouse
  3. System ingestion
  4. All of the mentioned above

Answer: A) Cloud-based

Explanation:

Effective Cloud-based prescriptive data solutions may assist firms in creating processes based on informed data, as well as in maintaining and analyzing data from any location at any time and from any device.


10. Amongst which of the following is /are the techniques that are used for predictive analytics,

  1. Linear Regression
  2. Time series analysis and forecasting
  3. Data Mining
  4. All of the mentioned above

Answer: D) All of the mentioned above

Explanation:

Linear regression, time series analysis and forecasting, Data Mining are the techniques that are used for predictive analytics. There are some key cornerstones of predictive analytics, these are predictive modeling, decision analysis and optimization and transaction profiling.


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