7. What Are Prescriptive Analytics?

Chapter objectives:

• List and describe the commonly used prescriptive analytics in the business analytics (BA) process.

• Explain the role of case studies in prescriptive analytics.

• Explain how curve fitting can be used in prescriptive analytics.

• Explain how to formulate a linear programming model.

• Explain the value of linear programming in the prescriptive analytics step of BA.

7.1. Introduction

After undertaking the descriptive and predictive analytics steps in the BA process, one should be positioned to undertake the final step: prescriptive analytics analysis. The prior analysis should provide a forecast or prediction of what future trends in the business may hold. For example, there may be significant ...

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