What type of analytics takes past purchasing data as inputs into a model that recommends the best pricing strategy across all flights allowing an airline company to maximize revenue?

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02-06-2022
Business

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What type of analytics takes past purchasing data as inputs into a model that recommends the best pricing strategy across all flights allowing an airline company to maximize revenue?

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suchetasVT suchetasVT · Answer 1 · 2022-06-15T05:22:34-04:00

Prescriptive analytics takes past purchasing data as inputs into a model that recommends the best pricing strategy across all flights allowing an airline company to maximize revenue.

What do you mean by Prescriptive analytics?

Prescriptive analytics is the technique of the usage of information to decide an optimal direction of action. By thinking about all applicable factors, this form of evaluation yields pointers for subsequent steps.

Because of this, prescriptive analytics is a treasured device for information-pushed decision-making.

Therefore, Prescriptive analytics takes past purchasing data as inputs into a model that recommends the best pricing strategy across all flights allowing an airline company to maximize revenue.

Learn more about Prescriptive analytics here:

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What type of analytics takes past purchasing data as inputs into a model that recommends the best pricing strategy across all flights allowing an airline company to maximize revenue?

Sagot :

What do you mean by Prescriptive analytics?

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