The use of predictive analytics has been on for some time now. However, now business analytics is moving towards a more prescriptive model by using more of machine learning and advanced software. The traditional model focused on churning massive quantities of data and gleaning the requisite business intelligence from it. But it was soon realized that from these massive chunks of data, people were not always able to differentiate the right bits using the tools. So, prescriptive analytics merges human intelligence with data-backed analytics. It is a natural progression. Access to data may prove to still be a big challenge to this model. Companies must not only seek answers, but also explore the kind of questions that may emerge. The final decision would still rest with human decision-making intelligence.

Source:https://www.techradar.com/news/the-path-from-predictive-to-prescriptive-analytics

Uploaded Date:27 October 2018