Final answer:
False. Analytics aims at analyzing past data to improve decision-making rather than specifically predicting future events. Misinterpreting data can lead to significant consequences, as illustrated by the Target data breach case.
Step-by-step explanation:
The statement “the efficiency objective of analytics is to inform someone in the business of future events” is false. The primary goal of analytics, particularly business analytics, is to analyze past performance and generate insights for better decision-making to improve efficiency and effectiveness. It is not specifically about predicting future events, but rather about understanding trends, patterns, and making informed decisions.
In the realm of society and businesses, being able to interpret data is crucial. For example, in a case study by Bruno & Abrahão (2012), the impact of decision volume on accuracy within an information security center was examined, highlighting how cognitive demand can affect decision-making quality. This is related to how businesses must respond to data, such as the example of the Target data breach where signals were misinterpreted, leading to significant business consequences.