Financial statistics

Select one of the four data approaches:

Descriptive Analytics,

Diagnostic Analytics,
Predictive Analytics, or

Prescriptive Analytics.

Select a data approach within one of these and then provide an example of when this approach will be utilized. For example, when would artificial intelligence or machine learning be used in an accounting problem? Another example is where do you see descriptive statics (descriptive analytics)? And, when is profiling (diagnostic analytics) appropriate?

Be sure to post an initial, substantive response by Thursday at 11:59 p.m. MST and respond to two or more peers with substantive responses by Sunday at 11:59 p.m. MST. A substantive initial post answers the question presented completely and/or asks a thoughtful question pertaining to the topic. Substantive peer responses ask a thoughtful question pertaining to the topic and/or answers a question (in detail) posted by another student or the instructor.