Big Data Analytics: Descriptive Vs. Predictive Vs. Prescriptive - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Comments
Big Data Analytics: Descriptive Vs. Predictive Vs. Prescriptive
Oldest First  |  Newest First  |  Threaded View
Laurianne
50%
50%
Laurianne,
User Rank: Author
12/31/2013 | 10:43:22 AM
Prescriptive anlaytics
The way Wu defines prescriptive anlaytics could be especially helpful for describing this concept to line-of-business colleagues.
D. Henschen
50%
50%
D. Henschen,
User Rank: Author
1/2/2014 | 8:55:43 AM
Better examples for predictive analysis
The distinctions between descriptive, predictive and prescriptive are important, particularly since so many vendors are now throwing the term "analytics" around for things like reporting that really qualify as business intelligence. On predictive, a sentiment-analysis score isn't strictly descriptive as you're calculating a value that is your best guess at an individual's sentiment. But you're not really predicting something is going to happen, as in more classic examples of prediction such as customer churn or risk. Will X customer leave or will Y customer pay off a loan? Now that's a prediction. Prescriptive analytics go one step further, telling us what type of offer to sent to which churn candidate to promote retention or what loans to approve to maintain an acceptable level of risk.  


2021 State of ITOps and SecOps Report
2021 State of ITOps and SecOps Report
This new report from InformationWeek explores what we've learned over the past year, critical trends around ITOps and SecOps, and where leaders are focusing their time and efforts to support a growing digital economy. Download it today!
InformationWeek Is Getting an Upgrade!

Find out more about our plans to improve the look, functionality, and performance of the InformationWeek site in the coming months.

Commentary
Why IT Leaders Should Make Cloud Training a Top Priority
John Edwards, Technology Journalist & Author,  4/14/2021
Slideshows
10 Things Your Artificial Intelligence Initiative Needs to Succeed
Lisa Morgan, Freelance Writer,  4/20/2021
Commentary
Lessons I've Learned From My Career in Technology
Guest Commentary, Guest Commentary,  5/4/2021
Register for InformationWeek Newsletters
Video
Current Issue
Planning Your Digital Transformation Roadmap
Download this report to learn about the latest technologies and best practices or ensuring a successful transition from outdated business transformation tactics.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll