BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Prescriptive analytics relies on optimization and rules-based techniques for decision making. Optimization techniques such as linear programming, integer programming, and nonlinear programming play an important role in prescriptive analytics, since they enable a set of decisions to be made in an optimal way.

Detailed explanation-2: -Prescriptive analytics is the use of advanced processes and tools to analyze data and content to recommend the optimal course of action or strategy moving forward.

Detailed explanation-3: -Prescriptive analytics, when used effectively, provides invaluable insights in order to make the best possible, data-based decisions to optimise business performance.

Detailed explanation-4: -Prescriptive analytics uses specific techniques including simulation, optimization, game theory and other decision-analysis methods. Prescriptive analytics is still in the initial stages; but due to its complexity and requirement of large data sets, it is currently being used only in companies using Big Data.