(EnergyIndustry.Net, July 16, 2021 ) Both descriptive and predictive analytics are related to prescriptive analytics. Prescriptive analytics strives to discover the optimal solution or outcome among multiple options, given the available parameters, whereas descriptive analytics aims to provide insight into what has happened and predictive analytics helps model and anticipate what might happen. Prescriptive analytics, on the other hand, is not immune to the same flaws that can derail descriptive and predictive analytics, such as data restrictions and unaccounted-for external variables. Prescriptive analytics' performance is also determined by how well the decision model represents the impact of the decisions under consideration.
Any technique to data mining that focuses on prediction is referred to as predictive analytics (rather than description, classification or clustering). Prescriptive analytics is a type of advanced analytics that looks at data or content and uses techniques like graph analysis, simulation, complicated event processing, neural networks, recommendation engines, heuristics, and machine learning to do so.
The Prescriptive Analytics market report provides geographic analysis covering regions, such as North America, Europe, Asia Pacific, and Rest of the World. The Prescriptive Analytics market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
This report offers the major market player’s profiles, such as Fair, Isaac and Company (FICO), IBM Corporation, Infor, Oracle Corporation, River Logic, Inc., Salesforce.com Inc, SAP SE, SAS Institute Inc., Teradata Corporation, and Tibco Software Inc.
We are a growth partnership company that provides fact-based consulting services focused on helping our clients achieve incremental and transformational growth competing in business-to- business and business-to- consumer markets. We facilitate their growth journey through an environment that is dominated by accelerating change, constant evolution of new business models, disruptive trends and technologies in their respective industry.
We serve a wide spectrum of global industries such as Semiconductor and Electronics, Information Technology, Communication, Medical Devices, Pharmaceuticals, Defense, Aviation, and Chemicals among others. Our well-seasoned blend of technical and marketing expertise enables us to serve our customers with comprehensive study of global supply chains that helps them to devise highly effective strategies.