Which of the following is NOT a type of business analytics?

Study for the Gramling Business Analytics Exam. Engage with multiple choice questions and detailed explanations. Master your business analytics skills and get ready for success!

The correct choice identifies "inferential analytics" as not being a recognized type of business analytics. In the field of business analytics, there are three main categories: descriptive analytics, predictive analytics, and prescriptive analytics.

Descriptive analytics involves summarizing historical data to understand what has happened in the past, focusing on trends and patterns. Predictive analytics uses historical data combined with statistical algorithms and machine learning techniques to predict future outcomes, making it essential for forecasting and strategic planning. Prescriptive analytics goes a step further by providing recommendations on possible actions to achieve desired outcomes based on predictive analysis.

Inferential statistics, while related to data analysis, pertains to methods that allow conclusions to be drawn about a population from a sample. This field operates under different principles than business analytics, which is more focused on actionable insights derived directly from data regarding business performance and decision-making processes. Thus, "inferential analytics" does not fit within the framework of the main types of business analytics used to guide business strategies and operations.

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