Descriptive, Predictive, and Prescriptive Analytics
Analytics Advisory Group helps derive Outcomes-Driven, Incremental Value, utilizing
- Descriptive Analytics (BI Metrics, Alerts, Triggers, Scorecards, Reports, Dashboards)
- Predictive Analytics (Classification, Prediction, Discovery Modeling)
- Prescriptive Analytics (Simulation What-Ifs, Optimization Modeling)
In order to successfully harvest valuable outcomes from Analytics, an essential prerequisite is to ensure the Data Management Foundation is strong and has a sound, scalable, and modular architecture for the future.
For a comparison of the 3 types of analytics, and the underlying data foundation needed, see the table below.