This weekâ€™s required readings explain the role that analytics plays in the modern business environment. Consider the following questions and respond in a minimum of 500 words:
- How is data analytics different from statistics?
- Analytics tools fall into 3 categories:descriptive, predictive, and prescriptive. What are the main differences among these categories?
- Explain how businesses use analytics to convert raw operational data into actionable information. Provide at least 1 example.
- Consider the organization you work for (or another organization youâ€™re familiar with). Does this organization use data analytics?If so, how is it used? If not, how could the organization use data analytics to improve its performance?