Prescriptive Analytics are actionable analytics that allow organizations to achieve their business and operational goals and objectives. Those goals may include the following:
- Quality improvements,
- Service enhancements,
- Product innovations,
- Revenue enhancements,
- Cost reductions, and
- Margin enhancements.
Prescriptive Analytics goes beyond knowing something and being presented data. Prescriptive Analytics provides predictable outcomes based upon prior experience and knowledge, business rules, operating procedures, AI/ML, statistical analysis, and predictive analytics.