Which of the following is not one of the main types 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 answer is identified as exploratory analytics not being one of the main types of business analytics. Business analytics typically encompasses three main types: descriptive analytics, predictive analytics, and prescriptive analytics.

Descriptive analytics focuses on summarizing past data to understand what has happened in the business, often utilizing historical data to provide insights into trends and patterns. Predictive analytics, on the other hand, uses statistical models and machine learning techniques to forecast future outcomes based on historical data. This type looks to identify the likelihood of future events occurring based on past behaviors and trends.

Prescriptive analytics takes this a step further by not just predicting outcomes but also recommending actions to achieve desired results. It integrates tools and techniques from data analysis, mathematics, and algorithms to guide decision-making processes.

Exploratory analytics, while a valuable approach in data analysis for discovering insights and understanding data characteristics, is not classified as one of the main types of business analytics in a formal context, which is why it is the correct choice in this instance.

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