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Predictive or Prescriptive Analytics? Your Business Needs Both

Big Data gets a lot of buzz in the business world. It’s true that data analytics can give you deep, useful insights into your business and its customers, but only if you use those insights to their full potential.

There are three main components to business analytics: descriptive, predictive and prescriptive. Descriptive analytics β€” the “simplest class of analytics,” said Lithium Technologies’ chief scientist Michael Wu β€” is your raw data in summarized form.

Source: businessnewsdaily.com
Author: Nicole Fallon Taylor

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