Prescriptive Analytics Are Overtaking Predictive Analytics

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Prescriptive Analytics Are Overtaking Predictive
Analytics
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• According to information from Forrester Research
  Analysts, prescriptive analytics for B2B/B2C
  companies is overtaking predictive analytics.
• Data revealed at Forresters Virtual Data
  Insights Forum, October 1315, 2020, 93 of firms
  are operating WITHOUT insights-driven practices.
  The same research claimed that just 49 of all
  business decisions are being made based on
  quantitative information.
• This presents a problem for a variety of reasons.

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How can your firm overcome bad decision-making?

• Predictive analytics provides you with raw data
  so you can build your own plans and actions,
  while prescriptive analytics does all of the work
  for you and provides actionable options.
• Shifting through the vast quantities of data you
  have with human analysis is not practical or
  possible within a reasonable timeframe. But
  marketing decisions must be informed quickly to
  enable you to take corrective actions when
  needed. Prescriptive Analytics gives consistent
  recommendations on what to do next. Your decision
  making is validated, not replaced when using
  prescriptive tools.

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How Prescriptive Analytics Works

• These are the three core capabilities of
  Prescriptive Analytics, which incorporate machine
  learning to suggest actions
• Anomaly Detection identify deviations in
  performance from average baseline metrics
• Accessing Hidden Demand uncovering revenue
  opportunities
• Clustering aggregating similar customers,
  employees, or stores

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• No marketing professional can afford to be
  without tools that help validate the decisions
  they make.
• Consider having a 30-minute consultation to see
  how Group FiO Prescriptive tools can help you
  make the right moves, no matter what is happening
  in the world.