• Why Prescriptive Analytics Is the Future of Big Data

    Big Data has ushered in an era of data analytics that is taking different forms, including prescriptive analytics. This type of business analytics helps you find the best approach for a specific circumstance. It is also considered the third or final part of business analytics, which also encompasses descriptive analytics and predictive analytics. Prescriptive analytics leverages predictive analytics and descriptive analytics to derive ideal outcomes or solutions from helping you solve business problems, and it is driving the future of Big Data. Here's how: Differences Between Prescriptive [...]

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    Understanding Your Business With Descriptive, Predictive And Prescriptive Analytics

    Companies have long been involved in the analysis of how a company performed over time. As the history of big data shows, already for many years, we try to understand how the organisations or the world around us behaves by analysing the available data. In the past, this used to be merely descriptive analytics. This answers the question “what happened in the past with the business?” With the availability of big data we entered the new area of predictive analytics, which focuses on answering the question: “what is probably going to happen in the future?” However, the real advantage of [...]

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