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.