The future of big data analytics has arrived, and it’s called prescriptive analytics. Gartner defines prescriptive analytics as a form of advanced data analytics that “examines data or content to answer the question ‘What should be done?’ or ‘What can we do to make _______ happen?'”
In other words, prescriptive analytics uses big data such as historical data and real-time data to not only anticipate what will happen and when but why something will happen and recommends actions to take based on those predictions. By acting on these insights, businesses can maximize on an impending opportunity, optimize a situation, mitigate future risk, and gain a competitive advantage.
Author: Melanie Wolkoff Wachsman