The River Logic Blog

The Real-World Applications and Business Benefits for Prescriptive Analytics

You’ve undoubtedly heard the buzz about prescriptive analytics. Smart people have probably told you that your company needs to be using such capabilities. In this blog post, we look at real-world applications and, more importantly, how such capabilities can make your company more efficient and more profitable.

In brief, prescriptive analytics uses algorithms to create a flexible performance model of your business that can provide managers insights into the best decision to make in a given situation. It has the benefit of fully respecting the constraints and objectives of the business while also reporting the financial impact.

SXSW Re-Cap: Our Future is Everything Artificial Intelligence

Every year in March, my wonderful City of Austin hosts South by Southwest (SXSW). In addition to fully taking over the entire city (in the best possible way), SXSW is an event that combines music, film, gaming and more with a series of conference sessions covering a broad spectrum of interests. As a Marketer, I mostly stuck to the "Branding and Marketing" track (hoping to post on those learnings soon). However, given that we at River Logic play in the innovative technology space, I did sneak some time in to catch a few sessions on the "Intelligent Future" track.

River Logic Joins TBM Consulting Group at the American Supply Chain Summit

River Logic is excited to announce that we will be joining TBM Consulting Group at the American Supply Chain Summit next week in Dallas, TX. Not only has our company never attended this event before, but this will be our first event at which we will join TBM Consulting Group as an official partner.  

Our partnership with TBM Consulting kicked off earlier this year and has since rapidly progressed. Although the solution focus will be on broad applications of optimization within Supply Chain Management, River Logic and TBM Consulting have chosen to go to market initially with a focus on Production Allocation.  

Microsoft Positioned a Leader in Gartner's MQ for Analytics and Business Intelligence Platforms

Gartner's Magic Quadrant for Analytics andBusiness Intelligence (BI) Platforms measures the maturity of vendors in terms of excellence and completeness of vision. In 2016, Gartner revised its criteria to reflect the growth of more sophisticated analytics that are easier for non-IT professionals to use. The revised criteria have resulted in some vendors moving backward, while others that are in tune with current market needs, such as Microsoft and Tableau, have moved ahead.

Don't Be Afraid of Prescriptive Analytics. Decide for Yourself if You're Ready.

We come across a lot of companies — of all sizes, across all different industries — that hear the word "prescriptive analytics" and run for the hills. I honestly can't blame them, given the misinformation that exists in the market space today around this topic. Even top-ranked analyst firms speak about the category as if it's something that only the most advanced companies can take advantage of and see value from. They see it as a crawl > walk > run approach, in which you first need to implement your BI, then your predictive, and only then can you think about implementing prescriptive.

What Should You Look for in Your BI/Analytics Platforms?

As the business environment increases in complexity, so does the need for better business intelligence (BI) and analytics. This is demonstrated by Gartner's prediction, stating that the market for BI and advanced analytics will reach $18.3 billion by the end of 2017.

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