In data science for business, what is the term for using historical data to make predictions about future data points?

What is the primary goal of using data science in business analytics?

A. Increasing data privacy

B. Maximizing computational complexity

C. Minimizing data storage costs

D. Extracting actionable insights

In the context of business, what does the term "predictive modeling" refer to?

A. Anticipating future trends

B. Reviewing past performance

C. Assessing current market conditions

D. Estimating data storage requirements

What is the main purpose of "customer segmentation" in data science for business?

A. To group customers by age

B. To categorize customers by location

C. To personalize marketing strategies

D. To eliminate customer data

In data science, what is the term for using historical data to understand patterns and make informed decisions in business?

A. Descriptive Analytics

B. Predictive Analytics

C. Prescriptive Analytics

D. Diagnostic Analytics