Prescriptive Modeling
Prescriptive modeling offers recommendations for actions to achieve specific objectives. It answers the question, "What should we do?" and aims to:
- Optimize decisions and processes to improve performance.
- Simulate various scenarios to assess the potential impacts of decisions.
A few examples...
- Decision Optimization
Use of analytical techniques to recommend the best actions based on business objectives, available data, and existing constraints. - Simulation & Scenarios
Creation of simulations to test various strategies and scenarios, enabling businesses to visualize potential impacts before making decisions.
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