What is the primary purpose of predictive analysis in a business context?
Predictive analysis leverages both historical and real-time data to predict future events, helping businesses anticipate changes in demand, optimize resources, and make strategic decisions. Techniques like regression analysis, time series forecasting, and machine learning models are employed to analyze patterns and forecast outcomes with varying levels of probability. This process is critical in industries like finance, healthcare, and retail, where understanding potential trends can lead to competitive advantages and risk mitigation. Option A is incorrect as it focuses solely on past data without the forward-looking approach of predictive analysis. Option C is incorrect as customer categorization is typically part of segmentation, not predictive analysis. Option D is incorrect because analyzing past financial performance doesn’t involve forecasting future trends. Option E is incorrect because visualizing data aids comprehension but doesn’t directly relate to forecasting.
The _________ property of the element is a whole number.
Which of the following is the most reactive element in the Periodic table?
Which substance is commonly used as a thermometric material in thermometers due to its expansive properties under temperature changes?
What is the primary purpose of using bleaching powder in drinking water?
Litmus paper, used to test pH levels, is derived from which organism?
What is the primary use of calcium carbonate in antacid tablets?
Formula of ‘Quick Lime’ is __________
What are antibiotics?
What term describes the enthalpy change when a substance transitions from solid to liquid at its melting point?
Which gas is most abundant in the Earth's atmosphere.