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WPC 300 Final Exam questions with 100% correct answers
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WPC 300 Final Exam questions with 100% correct answers
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WPC 300 Final Exam questions with100% correct answers
heuristic - correct answer ✔✔learns by acting, uses trial and error, values experience, relies on common
sense, seeks satisfying solution
analytics - correct answer ✔✔the process of developing actionable decisions or recommendations for
actions based on insights generated from historical data
analytic - correct answer ✔✔learns by analyzing, uses step by step procedure, values quantitative
information and models, builds mathematical models and algorithms, seeks optimal solution
descriptive analytics - correct answer ✔✔preliminary stage of data processing that creates a summary of
historical data to yield useful information and possibly prepare the data for further analysis; what
happened? what is happening? standard reporting, dashboards, visual analytics, well defined business
problems and opportunities
explanatory analytics - correct answer ✔✔looking into the past and determining why a certain thing
happened; why did it happen? how did it happen? inferential statistics, visual analytics,
discover/understand casual relationships of an outcome
predictive analytics - correct answer ✔✔use of data, statistical algorithms and machine learning
techniques to identify the likelihood of future outcomes based on historical data; what will happen? why
will it happen? data mining, text mining, forecasting, accurate projections of future outcomes and events
prescriptive analytics - correct answer ✔✔answers the questions of what to do by providing information
on optimal decisions based on the predicted future scenarios; what should be done about it? why should
you do it? optimization, simulation, expert systems, best possible business decision and outcome
data visualization - correct answer ✔✔graphical representation of information and data
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