Analytical Decision Making
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| Describes characteristics of a dataset. Mean, median, mode, variation, standard deviation, range.... | Descriptive analytics
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| Uses data from t he past to predict the future | Predictive
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| Uses experimental design and optimization to predict a future | Prescriptive
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| If we move to six appointments an hour we can increase revenue 2%. Which form of analytics is this? | Prescriptive - We are taking a specific course of action
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| Based on the last four quarters, we can predict $4,1 million in sales next quarter. Which form of analytics is this? | Predictive: We aren't taking any action
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| The number of appointments per day averaged 7 over the last 6 months. Which form of analytics is this? | Descriptive: We are only describing the past. No future predictions are made.
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| Is Big Data structured, unstructured or both? | Both
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| Where do we store big data | In a big data warehouse
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| Why do marketing teams use big data? | "Datamining" assists in targeting the best customers for new products or reaching existing customers for like products
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