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Prescriptive Analytics
Last Updated: October 7, 2013
Definition - What does Prescriptive Analytics mean?
Prescriptive analytics refers to analytics that seek to provide optimal recommendations during a decision making process. Unlike observational analytics or predictive analytics, prescriptive analytics determines ways in which business processes should evolve or be modified.
Techopedia explains Prescriptive Analytics
IT professionals apply analytics to enterprise software and IT architectures. In-depth analytics may describe big data, where companies process large amounts of existing data sets into informative and organized structures.
Like other analytical models, various technological advances facilitate prescriptive analytics. The increase of data storage media capabilities allows businesses to store much more information affordably, such as through cloud hosting service solutions. Network structure advances also allow for the capturing of a wider variety of information in new, powerful ways.
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