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Wednesday, May 28, 2014

Comparing and Contrasting Analytics Types

In Smart Data Collective: I have heard this debated a number of times.  Descriptive, Predictive and Prescriptive.   Some even add additional types, but I think this is sufficient.   And adds a thought:  " ... prescriptive analytics compounds the value of predictive through its ability to predict multiple possible outcomes based on the data. By offering a variety of options, prescriptive allows for decision makers to combine the data with their own personal insights, which can lead to better ultimate results. It's reasonable to say that this fact may make prescriptive analytics incredibly attractive to organizations in 2014. ... " 

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