CAF-3 · Chapter 3 · Question 8 of 15
A supply chain manager builds models to estimate future demand, supplier lead times, and potential stockouts before they occur. This scenario leverages:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Predictive Analytics
Explanation
Predictive analytics aims to answer "What will happen?" by forecasting future trends, such as anticipating supply chain disruptions
More Data Analytics Maturity Model (The 4 Stages) MCQs
- Q10Which stage of data analytics recommends optimal actions based on predictions to realize maximum business value?
- Q11An airline system automatically adjusts ticket prices in real-time based on demand forecasts to maximize revenue. This is an application of:
- Q12If a company wants to utilize optimization algorithms, simulations, and decision trees, they are planning to implement which type of…
- Q13The implementation of data analytics provides organizations with a competitive advantage. How is this advantage primarily achieved?
- Q14What is considered a major challenge in implementing data analytics that can lead to inaccurate predictions and misguided decisions?