Question 4 (1 point) A retail store owner offers a discount on product A and pre

Question

Question 4 (1 point) A retail store owner offers a discount on product A and predicts that the customers would purchase products B and C in addition to product A. Identify the technique used to make such a prediction. O Simulation O Data dashboards O Data query O Data mining Save Question 5 (1 point) mt analytics are techniques that use models, constructed from past data, to predict the future or to ascertain O Descriptive O Simulation O Prescriptive O Predictive the impact of one variable on another. Save

Explanation / Answer

A) Data mining is correct option.

Data Mining: Data mining is the process of sorting through large data sets to identify patterns and establish relationships to solve problems through data analysis. Data mining tools allow enterprises to predict future trends.

B) Predictive Analytics is correct Option

Predictive Analytics techniques that use models constructed from past data to predict the future or to ascertain the impact of one variable on another.

The goal of Data Analytics (big and small) is to get actionable insights resulting in smarter decisions and better business outcomes. How you architect business technologies and design data analytics processes to get valuable, actionable insights varies.

There are three types of data analysis:

Predictive Analytics: Predictive analytics turns data into valuable, actionable information. Predictive analytics uses data to determine the probable future outcome of an event or a likelihood of a situation occurring.

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