What is Prescriptive Analysis?

Prescriptive analytics is an advanced analytical technique that combines data, statistical modeling, machine learning, and optimization methods to recommend specific actions for achieving optimal outcomes. Unlike descriptive or predictive analytics, prescriptive analytics forecasts potential scenarios and advises the best course of action to capitalize on opportunities or address challenges.

Businesses leverage prescriptive analytics to optimize decision-making in areas such as supply chain management, resource allocation, pricing strategies, and operational efficiency. Prescriptive analytics helps organizations proactively manage risks, maximize profitability, and enhance overall performance and competitiveness by providing actionable recommendations.