Although all types of analytics aim to improve decisions, prescriptive analytics outputs a preferred course of action. It takes predictive insights to the next level by suggesting the optimal way to handle a future situation and can be applied to strategic, tactical, and operational decisions, each of which has different traits. The recommended decision can be delivered to a human in a decision support environment, or it can be coded into a system for decision automation
While all types of analytics ultimately support better decision making,prescriptive analytics outputs a decision rather than a report, statistic, probability or estimate of future outcomes. Gartner, Forecast Snapshot: Prescriptive Analytics, Worldwide, 2017
In this Prescriptive analytics stage platform translate a series of constraints (and often a forecast) into a feasible business plan and help business users identify the best next steps for their company.
In our Prescriptive analytics domain, we apply mathematics and algorithms to data and platform suggests a preferred course of action. It uses a model that describes how a business works and helps the platform the intelligence to analyze data in order to establish the optimal solution to be able to guide business decision making.
deepheliLAB’s VALUE innovation philosophy sits upon the solid foundation of AI technology supported by Machine Learning with Optimization for decision making of the business.
