Lou Reed is the primary accountant and 1 of 87 employees at The Velvet Underground, a company that manufactures professional grade recording equipment and mixing boards. By the end of their third year, 2017, TVU had already turned a $150,000 profit. At that time, Lou used analytics to estimate promising sales of a new device TVU planned to sell. Unfortunately, the new device did not live up to expected potential. At the end of the following year, 2018, Lou was tasked with using analytics to figure out why the device did not sell well, and how those

Trigonometry (MindTap Course List)
10th Edition
ISBN:9781337278461
Author:Ron Larson
Publisher:Ron Larson
ChapterP: Prerequisites
SectionP.3: The Cartesian Plane And Graphs Of Equations
Problem 7ECP
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Lou Reed is the primary accountant and 1 of 87 employees at The
Velvet Underground, a company that manufactures professional grade
recording equipment and mixing boards. By the end of their third year,
2017, TVU had already turned a $150,000 profit. At that time, Lou
used analytics to estimate promising sales of a new device TVU
planned to sell. Unfortunately, the new device did not live up to
expected potential.
At the end of the following year, 2018, Lou was tasked with using
analytics to figure out why the device did not sell well, and how those
sales might be improved. Fortunately, in 2019, sales of the device
increased, along with all of the company's other products.
Each time Lou utilized analytics, he had to access a number of
different databases to find all the data he needed. Velvet
Underground's sales revenue grew from $250,000 in 2018 to $1
million in 2019, prompting Lou to upgrade his QuickBooks software.
Which type of data analytics did Lou utilize in 2017?
Select one:
O a. Prescriptive
O b. Predictive
O c. Descriptive
O d. Both A and B
Transcribed Image Text:Lou Reed is the primary accountant and 1 of 87 employees at The Velvet Underground, a company that manufactures professional grade recording equipment and mixing boards. By the end of their third year, 2017, TVU had already turned a $150,000 profit. At that time, Lou used analytics to estimate promising sales of a new device TVU planned to sell. Unfortunately, the new device did not live up to expected potential. At the end of the following year, 2018, Lou was tasked with using analytics to figure out why the device did not sell well, and how those sales might be improved. Fortunately, in 2019, sales of the device increased, along with all of the company's other products. Each time Lou utilized analytics, he had to access a number of different databases to find all the data he needed. Velvet Underground's sales revenue grew from $250,000 in 2018 to $1 million in 2019, prompting Lou to upgrade his QuickBooks software. Which type of data analytics did Lou utilize in 2017? Select one: O a. Prescriptive O b. Predictive O c. Descriptive O d. Both A and B
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