Prescriptive Analytics for Business Leaders

ISBN: 978-1-5323-5754-1
By: Bull, Peter , et al.


This book was produced out of an urgent need to educate the market space on a relatively new form of advanced analytics: prescriptive analytics. Currently at 15% market penetration, analysts expect the category to grow to 36% over the next three years. The contents of this book are focused on informing business leaders about various aspects of prescriptive analytics with which they should be familiar in order to ensure their company is staying up to date on innovative technological and analytical approaches to business planning. The first part of the book is focused on defining the category and exploring two different approaches to prescriptive analytics: optimization and rules-based decision making. Next, the value of prescriptive analytics as it specifically relates to business leaders is explored, followed by some key ways for business leaders to determine whether they're ready for this type of advanced analytics approach. The last few sections outline a step-wise approach to finding use cases in which to apply prescriptive analytics, some technological considerations and a few real-world use cases that can help business leaders better understand the concept.