Lone Star Analysis provides predictive and prescriptive analytics, and Evolved AI® to help our customers achieve Decision Superiority™
Before we can dive deeper into the benefits, first we need to look at the differences between predictive and prescriptive analytics. While both of these methods of data analysis are used to guide decisions, they rely on different techniques and tools. Splunk ITSI is an Industry Leader in AIOps...
Sengupta emphasized the importance of fully understanding the logic, nuances and circumstances behind the results of prescriptive analysis before taking action. Be prepared to prove that your results are statistically sound. “Pretty graphs can be very compelling, but this is only software, and its ...
This will help to decide the usability of the data and thereby its retention for future applications. The paper reports the predictive and prescriptive analysis notion in Big-data regime, various platforms for its analysis and the future research directions....
Predictive and prescriptive analytics help businesses predict future events based on data. However, they have a set of key differences.
What is prescriptive analytics? Prescriptive analytics, as the name suggests, prescribes a specific course of action based on a descriptive, diagnostic, or predictive analysis, though typically the latter. This can be relatively simple—such as lowering prices to increase sales—or complex, dependin...
Scenario Analysis: Prescriptive analytics allows decision-makers to simulate different scenarios and evaluate their potential outcomes. By testing various options and analyzing their impact, organizations can identify the optimal decision strategy and assess potential risks and rewards. Optimization and Decision...
Lone Star’s no-code platform TruNavigator® MAX delivers predictive and prescriptive analytics. TruNavigator® MAX helps organizations quickly make the best possible decisions for even the most complex challenges. TruNav™ MAX is focused on predictive decision analysis for planning purposes and ...
What Is Prescriptive Analytics? Prescriptive analytics takes predictive analytics one step further by offering specific and actionable next steps for how to solve the issues brought up in the predictive data analysis. While predictive analytics can tell you what will happen, when it will happen, and...
Forecasting tools such as predictive and prescriptive current analytics can leverage historical descriptive and diagnostic data to infer prospective events and when they’ll occur, as well as provide prescriptive guidance and suggestions. Transform your business into a data-driven organiza...