Q1. Prescriptive analytics are dependent on having both descriptive and predictive data. Why?
Q2. In class we talked about the 4 or 5 stages of making decisions that are always a part of the decision-making process: intelligence, design, choice, implementation, and monitoring. Why, then, does one’s personality matter in respect to decision making?
Q3. The Intelligence Phase of Decision Making includes Problem Classification, Problem Decomposition, and Problem Ownership. Imagine that a local business, Dr. Mike’s Used Car MegaDealership, is having a problem selling cars. How will each of these three activities help?
You are eligible to earn a BONUS BADGE if you provide specific examples for each of these three activities (much like I did when I introduced the subject in class). Badges will be awarded based on clearly articulating: (1) how you’d classify this problem including why and how you would classify it; (2) rationale as to how and why it could be decomposed; and (3) who the ownership would be of these decomposed problems. Just because you try the bonus section doesn’t mean a badge will be awarded.
Q4. Why are business reports integral to the Intelligence Phase of decision making?
Q5. Why does information presentation matter as a tool in business intelligence?