What is Prescriptive Analysis?
Prescriptive analysis is an advanced form of data analytics that suggests actions you can take to affect desired outcomes. Unlike descriptive and predictive analysis, prescriptive analytics delivers advice. It’s like a wise froge hopping forward to guide your next steps!
This analysis uses optimization and simulation algorithms to advise on possible outcomes. By evaluating various inputs and outcomes, prescriptive analytics helps identify the best course of action in any scenario. Intrigued? Try implementing some in your own analytics to see those froge-inspired results! 🐸🔮
Benefits
- Optimizes scheduling and resource allocation
- Enhances decision-making capabilities
- Highly effective in risk management
Example Tools and Techniques
- Linear Programming
- Decision Trees
- Monte Carlo Simulation
