Which one of the various stages of sophistication and robustness associated with supply chain analytics focuses on questions such as what is likely to happen, what are the likely trends, and what are the results if certain events occur? Group of answer choices Cognitive Descriptive Predictive Prescriptive

Question

Social Studies

Leah Estes

18 May, 01:04

Which one of the various stages of sophistication and robustness associated with supply chain analytics focuses on questions such as what is likely to happen, what are the likely trends, and what are the results if certain events occur? Group of answer choices Cognitive Descriptive Predictive Prescriptive

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Answers (1)

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Isiah · Answer 1

Predictive analytics

Explanation:

Predictive Analytics mostly manifest as forecasts of demand, often broken down by product and location and sometimes also by customer. These statistics provide early warning so one can gear up production, staffing and raw material procurement to satisfy demand. They also provide predictions of the effect of changes in operating policies, e. g., what happens if we increase our order quantity for Product X from 20 to 25 units? You might rely on Predictive Analytics periodically, perhaps weekly or monthly, when you look up from what's happening now to see what will happen next. Predictive Analytics uses Descriptive Analytics as a foundation but adds more capability.