Make a well-researched and well-written response to the question below. Your response MUST be reflective of graduate-level work, MUST properly cite any external, secondary sources used to develop your response and MUST answer the question.

Background

There are basically four types of analytic approaches that aid businesses;

• Descriptive
• Diagnostic
• Predictive
• Prescriptive

Each has its own characteristics, capabilities, application, benefits and limitations. Businesses of all types, in all markets, use one or more of these analytic approaches to assist in solving business issues and making strategic decisions.

Assignment Question

1. Select one (1) of the analytic approaches from the above list.
2. Research, develop and write a three (3) page, graduate-level paper that provides the reader with a broad but, detailed explanation of the analytic approach you have selected.
3. Your paper should address the following:

• • Provide a definition of the analytic approach (be sure to properly cite your sources)
  • What question(s) does the analytic approach you selected help businesses to answer?
  • The analytic approach you selected is useful to show things like...? Meaning...provide specific example(s) of the analytic approach "in action" e.g., example(s) of the analytic approach being applied to addressing/solving a business problem.