Benefits and Challenges of AI-Based Predictive

Topic

Benefits and Challenges of AI-Based Predictive

Instructions

Explain in detail one of the following four strategies of business: international, multi-domestic, global, or transnational. Select a specific company not highlighted in the chapters for this week in your text and answer the questions that are attached. 

  1. Give an overview of the company you chose and identify the strategy you selected.
  2. What does the strategy entail?
  3. What are the implications to configuring and coordinating value chains?
  4. What are the benefits of the strategy as it pertains to your company?
  5. What are the limitations of the strategy as it pertains to your company?

The essay should be at least 500 words. Be as specific as possible.  Be as specific as possible. Submit your answers in a doc or docx document. Follow full APA compliance guidelines. Use all resources provided this week to support your assignment completion.

Answer Preview

Predictive analytics supports futuristic modeling, where based on existing data, as well as real-time information, artificial intelligence algorithms can create model and prediction, yielding reliable insights into the future. Prescriptive analytics, on the other hand, provides implementable actions which are solutions to the issues under considerations. With the deployment of AI-based predictive analytics, ambiguity and guesswork are eliminated in the decision making process (Bertsimas & Kallus, 2020). Decision makers would also avoid making avoidable errors which otherwise compromise the eventual outcomes.  Prescriptive analytics goes beyond provision of intelligence to support decisions, and offers real action plans to ease the decision making process.  Suitably, both predictive and prescriptive analytics support decision making (Attaran & Attaran, 2018). They yield actionable intelligence from big data, delivering business intelligence that can support business operations, increase visibility, and enhance the competitiveness of a business. Decision making is critical in a firm, meaning that if decision makers can make smarter, more relevant decisions more speedily and accurately, they would optimize their performance and that of the firm (Bertsimas & Kallus, 2020). To this extent, both the predictive and prescriptive analytics benefits organizations that use AI to perform as they increase accuracy and reliability.

Word Count: 1300