Prescriptive analytics is a technique used in artificial intelligence and machine learning to recommend an action or solution to a problem based on available data and information. Unlike predictive analytics, which focuses on predicting future events, prescriptive analytics focuses on providing recommendations to achieve a specific outcome.
Prescriptive analytics uses a combination of data analysis techniques, including predictive analytics and descriptive analytics, along with expert knowledge and business rules to generate recommendations based on the organisation's specific objectives.
For example, in business decision-making, prescriptive analytics can help managers make informed decisions about resource allocation, production planning and inventory management, among other issues. In healthcare, prescriptive analytics can be used to identify the best treatment for a patient based on their medical history and characteristics.
Prescriptive analytics can use a variety of machine learning techniques, such as resource optimisation, scenario analysis and model simulation to generate recommendations. In addition, it can include visualisation tools and dashboards to present recommendations in a clear and easily understandable way for users.
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