Knowee
Questions
Features
Study Tools

Select Any One Of the Following Options: A global e-commerce giant aims to optimize its supply chain by leveraging data to predict potential disruptions, such as weather-related delays or geopolitical events. Which analytics type would be instrumental in achieving this strategic goal?Descriptive AnalyticsDiagnostic AnalyticsPredictive AnalyticsPrescriptive Analytics

Question

Select Any One Of the Following Options: A global e-commerce giant aims to optimize its supply chain by leveraging data to predict potential disruptions, such as weather-related delays or geopolitical events. Which analytics type would be instrumental in achieving this strategic goal?Descriptive AnalyticsDiagnostic AnalyticsPredictive AnalyticsPrescriptive Analytics

🧐 Not the exact question you are looking for?Go ask a question

Solution

The type of analytics that would be instrumental in achieving this strategic goal is Predictive Analytics.

Here's why:

  1. Descriptive Analytics: This type of analytics is about understanding what has happened in the past. It helps to analyze historical data to understand changes that have occurred in a business. However, it does not predict future events or disruptions.

  2. Diagnostic Analytics: This type of analytics is about why something happened. It involves more detailed data exploration techniques and relies on drill-down, data discovery, and correlations. While it can provide some insights, it does not predict future events.

  3. Predictive Analytics: This type of analytics uses data, statistical algorithms, and machine learning techniques to identify the likelihood of future outcomes based on historical data. It's all about providing a best assessment on what will happen in the future. In this case, it can help predict potential disruptions such as weather-related delays or geopolitical events.

  4. Prescriptive Analytics: This type of analytics goes beyond predicting future outcomes by also suggesting actions to benefit from the prediction. While it can be useful, the question specifically asks for the type of analytics that can predict disruptions.

Therefore, Predictive Analytics is the best choice as it can help the e-commerce giant to predict potential disruptions and optimize its supply chain accordingly.

This problem has been solved

Similar Questions

Which TWO of the following can be achieved by combining big data with high-powered analytics? More effective decision makingElimination of operational risksBetter predictive capabilityA framework for resolving all business problems

Which of the following is an example of how organizations use business analytics?  A. Predicting customer demand to optimize inventory management.  B. Streamlining organizational structure and reducing workforce.  C. Outsourcing data analysis to third-party vendors.  D. Standardizing processes and procedures within organizations.

Which type of analytics focuses on predicting future outcomes based on historical data and statistical models?(1 Point)a) Descriptive Analyticsb) Predictive Analyticsc) Prescriptive Analyticsd) Diagnostic Analytics

Which one of the following options is the most important key benefit of data analysis? Decisive analyticsInformed business decisionsComplex reports

What are three tools for taking action on product analytics data?Paths, Funnels, and CohortsSegments, Retention, and DashboardsMeetings, Storytelling, and FunnelsAnalysis, Dashboards, and Storytelling

1/3

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.