Prescriptive Analytics is crucial because it enables you to go from knowing what will happen next and doing something about it. Most businesses churn out mind-boggling amounts of data in the present era — and prescriptive analytics make meaning of this incredibly bountiful resource. By mapping out clear instructions on what to do, you will be able to make much better decisions and practice smarter operations.
In industries involving supply chain management, prescriptive analytics can recommend the best delivery routes, inventory levels that should be maintained, or production schedules that need to be followed to reduce costs and achieve optimal performance.
In marketing, predictive analytics could suggest the best course of action based on customer conduct. Any organization that wishes to remain competitive and deal with the volume, velocity, and variety of data confronting predictive analytics needs this type of analytics.
