Prescriptive analysis

Concept and definition

Prescriptive analysis

What is Prescriptive analysis?

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.

« Back to glossary

Do you want to get in touch?

CDRs contain data that a telecommunications company collects about phone calls, such as time and length of call. This data can be used in analytical applications.
Fill the form
Share:
How AI can reduce product returns by 2023

Artificial intelligence (AI) solutions are valuable in reducing product returns. Through data analysis and decision [...]

Read More »
How to detect delinquent customers and avoid defaults? 10 signs of delinquency

As a consequence of this pandemic and economic situation in which we have found ourselves for the last two years, with the intention of better protecting the [...]

Read More »
5 examples of AI where it is applied in your daily life

We often wonder what examples of AI we can find in our environment, and the fact is that artificial intelligence is a concept that in English has [...]

Read More »
How to get more customers and less delinquency with Artificial Intelligence and Big Data

Fernando Pavón, CEO of Gamco and expert in Artificial Intelligence applied to business explains to us in the AceleraPYMES cycle how small companies can [...]

Read More »
See more entries
© Gamco 2021, All Rights Reserved - Legal notice - Privacy - Cookies