Problem
A. Your company is considering opening a branch in Toronto. List typical activities in each phase of the decision (intelligence, design, choice, implementation, and monitoring) regarding whether to open the branch.
B. You are about to buy a car. Using Simon's (1977) five-phase model, describe your activities at each step in making the decision.
C. Compare and contrast predictive analytics with prescriptive and descriptive analytics. Use examples.
D. What are the main data preprocessing steps? List and explain their importance in analytics.
E. How do you describe the importance of data in analytics? Can we think of analytics without data? Explain.