Competitors using analytics have what three key attributes?

Answer

Analytics refers to the usage of business data in complicated terms. A best example of
analytics can be said as portfolio analysis. Here, the duty of the investment adviser is to
analyze the risks of various stocks.

3 key attributes among analytics competitors:

 Use of Modeling: Going beyond simple descriptive statistics

Predictive modeling:data mining technique used to predict future behavior and anticipate the
consequence of change.

 Having Multiple Applications, Not just one: UPS applies analytics not only to
tracking the movement of packages but also to examining usage patterns to try to
identify potential customer defections so that salesperson can make contact and solve
problems.
 Support from the Top: leadership from executives at the very top who have a passion
for the quantitative approach.

What is Big Data?

Answer

Big data is a field that treats ways to analyze, systematically extract information from, or
otherwise deal with data sets that are too large or complex to be dealt with by traditional data-
processing application software.

 Describe the four general decision-making styles.

Answer

The four styles of decision making are directive, analytical, conceptual and behavioral.

Each style is a different method of weighing alternatives and examining solutions.

. How does artificial intelligence support human decision making?

Answer

AI has the ability to augment human intelligence and enable smarter decision-

making. Artificial intelligence helps in detecting wrong decisions and thus speeds up the
entire process of decision making.
Explainable AI (XAI) is defined as systems with the ability to explain their rationale
for decisions, characterize the strengths and weaknesses of their decision-making process,
and convey an understanding of how they will behave in the future. NVIDIA is one company
that is tackling the black box issue head-on.