Prescriptive analytics can cut through the clutter of immediate uncertainty and changing conditions. It can help prevent fraud, limit risk, increase efficiency, meet business goals, and create more loyal customers.
Prescriptive analytics is a type of data analytics—the use of technology to help businesses make better decisions through the analysis of raw data. Specifically, prescriptive analytics factors information about possible situations or scenarios, available resources, past performance, and current performance, and suggests a course of action or strategy. It can be used to make decisions on any time horizon, from immediate to long term.
