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:
Automation and rapid deployments via SaaS

One of the decisions faced by a company that needs an IT infrastructure is the choice of where to locate this infrastructure and where to install it.

Read More »
Differences between a traditional CRM and an intelligent CRM

Today we are going to explain the differences between a traditional CRM (Customer Relationship Management) and an intelligent CRM by applying technology that [...]

Read More »
What is chargeback? Find out how it affects your business

Chargeback refers to refunds that occur when, at the request of a cardholder, the bank requests a refund on his or her behalf [...].

Read More »
What is GAMCO and why should I use it for my business?

GAMCO is a pioneer in the creation of Artificial Intelligence and Machine Learning software solutions. GAMCO's solutions are designed to [....]

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