Like predictive analytics, prescriptive analytics is based on an approach to generate predictions for future developments from current data. These can come from a classic data warehouse or unstructured big data approaches such as NoSQL databases.
While predictive analytics only predicts future bottlenecks and production plans, prescriptive analytics is its evolution. Conflicts and bottlenecks are not only displayed, but users are also offered recommendations for action to solve these conflicts. Complex mathematical methods such as linear optimization (operation research) and simulation (random experiment) are used to determine alternative courses of action.
Learn more about Germanedge’s Prescriptive Analytics solutions.