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In other words, business intelligence focusses on description, while business analytics focusses on prediction and prescription. [1] Business analytics makes extensive use of analytical modeling and numerical analysis, including explanatory and predictive modeling, [2] and fact-based management to drive decision making.
In the case of upward counterfactual thinking, people tend to feel more negative feelings (e.g., regret, disappointment) about the situation. When thinking in this manner, people focus on ways that the situation could have turned out more positively: for example, "If only I had studied more, then I wouldn't have failed my test". [16]
[3] [4] While forecasting involves predicting the future based on current trend analysis, backcasting approaches the challenge of discussing the future from the opposite direction; it is "a method in which the future desired conditions are envisioned and steps are then defined to attain those conditions, rather than taking steps that are merely ...
The FIRE movement -- which stands for financial independence and early retirement -- has been gaining steam over the years, as views around retirement have become more fluid. While it might seem...
Business analysis is a professional discipline [1] focused on identifying business needs and determining solutions to business problems. [2] Solutions may include a software-systems development component, process improvements, or organizational changes, and may involve extensive analysis, strategic planning and policy development.
Kristen Bell and Dax Shepard seem to have one of the best, most long-lasting relationships in Hollywood. Here, a look back at their 12-year-long relationship.
Chloe Tan, 30, quit her first job out of college as an auditor. She decided to help out at her parent's eatery, which serves Chinese home-style dishes. Seven years later, she expanded the business ...
The phenomenon of hyperbolic discounting is implicit in Richard Herrnstein's "matching law", which states that when dividing their time or effort between two non-exclusive, ongoing sources of reward, most subjects allocate in direct proportion to the rate and size of rewards from the two sources, and in inverse proportion to their delays. [8]