Prescriptive models are based on analytics to quantify the decision-making on which the future operational processes of companies will revolve. With them, it is possible to predict with a high percentage of accuracy what will happen and why, identifying the best direction to take.
All this is supported by a process of data collection, adaptation and management. Analysis techniques are capable of improving the strategies of each business and help capture new opportunities.
We are talking about a type of analytics that seeks to optimize resources and increase operational efficiency through simulation and optimization techniques that help to choose the best path to follow.
What does a prescriptive model offer?
Prescriptive models use the knowledge and information gathered by descriptive and predictive analytics techniques, that is, classification, prediction and segmentation, based on operational research and numbers.
As we have said before, a prescriptive model offers reliable solutions to achieve operational objectives based on real and historical business data.
Based on this, it establishes a system that predicts the impact that the actions that are going to be taken in the future would have and chooses the one that will have the best return on investment.
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