Have you wondered why all the buzz about prescriptive analytics?
Think about this for a moment. Smart people have probably told you that your company needs to be using such capabilities. In fact, Gartner Research predicts up to 40% of companies will be using prescriptive analytics by 2021.
To understand the challenge of making the move to prescriptive analytics, we look at real-world applications and, more importantly, how such capabilities can make your company more efficient and more profitable.
Check this out: 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. That’s right. The dashboard chart below shows the types of business analytics and their role in planning and decision-making processes.
By Robert Whitehair, Ph.D.Read More
River Logic helps business managers make assumptions about business actions so they can understand the full economic impact of their decisions. Business models, developed using this platform, have the ability to express a holistic picture of a company; however, there is one essential ingredient required – data. Our platform models need data from a variety of company sources, for without data, a thorough and effectual model cannot exist. (Note: Models, regardless of the tool in which they reside, need data.)Read More
I love lazy Sunday afternoons, especially when it’s August in Texas, the Dallas Cowboys haven't kicked off the new season, and the weatherman insists I unwind on the couch and watch a little golf.
Several months ago, I was contacted by John Maynard, Assistant State Director at the University of Georgia Small Business Development Center Network – see www.georgiasbdc.org. John was interested in using Enterprise Optimizer to support new research he and his colleagues were conducting relevant to solo physicians and small medical practices.Read More