Prescriptive Analytics Software

In layman’s terms, prescriptive analytics software simply gives advice on possible outcomes. But we all know it is a lot more complex than that. Prescriptive Analytics is defined as the application of logic and mathematics to data to specify a preferred course of action. It outputs a decision rather than a report. In other circles however, prescriptive analysis is considered the area of business analytics dedicated to finding the best course of action for a given situation. Prescriptive analytics software employ use of business rules, algorithms, machine learning and computational modelling procedures on all kinds of data in order to settle on possible desirable outcomes for the given issue. Prescriptive analytics being the last stage of business analytics, has been largely proven to have the most impact on business entity objectives such as profit, reduced operational costs, risk mitigation, optimal service levels, customer satisfaction, product and service quality, as well as quick decision making. Furthermore, analytics can either be based on business rules or on optimization. Analytics based on business rules takes into consideration the best business practices, legal platforms, and the traditional practices of a typical organization while on the other hand analytics based on optimization is focused on finding the best outcome regardless of all other factors.

PAT Grid™ (Beta) for Prescriptive Analytics Software

Upcoming
Challengers
Leaders

PAT Index
Measures how well the product or service is performing.
Rating Index
Measures how the product or service is rated in comparison to other products.
Prescriptive Analytics Software
PAT Index™
 
Read More
64
 
Read More
59
 
Read More
52
 
Read More
 
Read More
 
Read More
Top Five
PAT Index™
 
1
NGData
 
2
AIMMS
 
3
LIONoso
 
4
Ayata
 
5
IBM Prescriptive Analytics
Compare
Go