Which approach to business analytics attempts to assign each unit in a population into a small set of classes where the unit belongs?

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14-02-2020
Social Studies

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Which approach to business analytics attempts to assign each unit in a population into a small set of classes where the unit belongs?

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fichoh fichoh · Answer 1 · 2020-02-14T07:25:02+01:00

Answer: Classification

Explanation: In business analytics, classification is used in organizing, segmenting or grouping similar units of data into their respective classes. Classification involves data arrangement into classes based on defined attributes or characteristics, this enables easier, more efficient data management. Classification is essential in data management, segmentation, risk compliance, data security and so on. It makes data retrieval and forwarding very seamless saving a lot of time, energy, boost efficiency and drives organizational output.