What are the enablers of descriptive analytics?

What are the enablers of descriptive analytics?

• A. Data mining, optimization, simulation, expert systems
• B. Business reporting, dashboards, scorecards, data warehousing
• C. Regression analysis, decision trees, clustering, forecasting
• D. Machine learning, artificial intelligence, web/media mining, data visualization

Answer: (B)

Descriptive analytics focuses on summarizing historical data to provide insights and understanding of what has happened within a business or process. The correct answer identifies the key tools and techniques that facilitate this process. Business reporting involves compiling data into reports that provide an overview of business performance, allowing stakeholders to make informed decisions based on actual data trends. Dashboards serve as visual interfaces that consolidate multiple data sources, presenting them in a way that is easy to understand at a glance. Scorecards are similar, as they track and measure performance against pre-defined metrics and goals. Data warehousing supports descriptive analytics by providing a robust storage solution that collects and organizes data from various sources, ensuring that quality data is available for analysis. Other options mention techniques and technologies that are generally more aligned with predictive and prescriptive analytics, which deal with modeling future outcomes and optimizing decisions, rather than just summarizing historical data. Therefore, the components listed in the selected answer are specifically aimed at enabling a clearer interpretation of past data and fostering greater insights into business performance.

Descriptive analytics focuses on summarizing historical data to provide insights and understanding of what has happened within a business or process. The correct answer identifies the key tools and techniques that facilitate this process.

Business reporting involves compiling data into reports that provide an overview of business performance, allowing stakeholders to make informed decisions based on actual data trends. Dashboards serve as visual interfaces that consolidate multiple data sources, presenting them in a way that is easy to understand at a glance. Scorecards are similar, as they track and measure performance against pre-defined metrics and goals. Data warehousing supports descriptive analytics by providing a robust storage solution that collects and organizes data from various sources, ensuring that quality data is available for analysis.

Other options mention techniques and technologies that are generally more aligned with predictive and prescriptive analytics, which deal with modeling future outcomes and optimizing decisions, rather than just summarizing historical data. Therefore, the components listed in the selected answer are specifically aimed at enabling a clearer interpretation of past data and fostering greater insights into business performance.