Prescriptive Analytics
Prescriptive Analytics is the most advanced type of Business Analytics that involves analyzing data to suggest actions or solutions for specific business problems. Prescriptive Analytics uses advanced algorithms, mathematical models, and machine learning techniques to evaluate data and recommend actions or solutions for specific business problems.
This type of analytics goes beyond Predictive and Descriptive Analytics by not only forecasting future events but also recommending actions that can be taken to achieve specific outcomes. It can help businesses make better-informed decisions and optimize their strategies to achieve the desired results.
Here are some examples of how businesses can use Prescriptive Analytics:
