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What type of analytics would take past purchasing data as inputs into a model and then recommend the best pricing strategy for maximizing revenue

Sagot :

"Prescriptive Analysis" would take past purchasing data as inputs into a model and then recommend the best pricing strategy for maximising revenue.

What is Prescriptive Analysis?

Prescriptive analytics makes recommendations about potential outcomes and produces actions that are likely to maximise important business KPIs.

Prescriptive Analytics is based on:

  • Optimisation which helps in achieving the best outcomes
  • Stochastic optimisation which helps in how to achieve best outcomes and identify data uncertainties to make best results.

The types of analytics are-

  • Descriptive,
  • Predictive and
  • Prescriptive analytics.

Learn more about Prescriptive Analytics, here

https://brainly.com/question/27833447

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