Prescriptive Analytics

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If your prescriptive analytics capabilities are falling short, it’s likely due to one of the following common obstacles:

You to make decisions based on gut feel because you don’t have decision support systems able to guide your decision making

Planning processes may be so complex that it’s impossible to optimize outcomes

Focuses more on execution than decision making

You’re unable to determine wether the decisions you make are the best for your business

Gain insight into how decisions can impact your business and protect yourself against data uncertainty.

DAECO's prescriptive analytics allow you to create an effective strategy

Simplify complex decision-making while balancing business goals and constraints using optimization technology.

The 7 stages in our
Prescriptive Analytics Process

Stage 1

Defining the question

Your first step should be to clearly define the problem you’re trying to solve or which question you’d like to answer.

Stage 2

Gather Analyze and Preparing Data

Next you’ll gather the data you need and prepare your dataset. Ensure your dataset is correctly labeled and formatted. Clean up any incomplete, missing, or inconsistent data.

Stage 3

Create and Deploy Models

Here we choose from the various algorithms and create models to the prescriptive process. Specific techniques used include optimization, simulation, game theory and decision-analysis methods.

Stage 4

Execute Models against Data

Here we run models against the available data set. This processes the data and throws out results which needs to be analyzed for success or failure.

Stage 5

Monitoring and Analyzing

Here we monitor the results and check if the objectives are satisfied. This determines if the models are accurate and produces the desired results.

Stage 6

Recommendations and Corrections

The final step of a prescriptive model is that, we get the “prescription” or “recommendation” on what we need to do achieve our goals.

Stage 7

Self-Healing and Auto Tunings

Taking a step beyond Prescriptive Analytics, is the implementation of the recommendations. In this, using bots, we may automate the prescribed recommendations.