BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Prescriptive Analytics Will Change the Future of Big Data for Business. Prescriptive analytics has many benefits for several businesses. It provides awareness of the new techniques or technologies, enhanced utilization of resources, and improved insight into the habits and patterns of customers.

Detailed explanation-2: -Prescriptive analytics is a process that analyzes data and provides instant recommendations on how to optimize business practices to suit multiple predicted outcomes.

Detailed explanation-3: -Prescriptive decision making is concerned with helping people make informed, and hopefully better, decisions. One main thesis of this chapter is that the choice of axioms to guide the analysis of prescriptive decision making is a decision problem.

Detailed explanation-4: -Prescriptive analytics focuses on finding the best course of action in a scenario, given the available data. It’s related to both descriptive analytics and predictive analytics, but emphasizes actionable insights instead of data monitoring.