Descriptive, Predictive and Prescriptive Analytics Explained


Here’s your two-minute guide to understanding and selecting the right descriptive, predictive and prescriptive analytics for use across your supply chain. Looking at all the analytic options can be a daunting task. Descriptive Analytics : Insight into the past. Analytics

The Power of Predictive Analytics in the Supply Chain

Enterra Insights

One of the most recent tools being adopted by businesses is predictive analytics. As the introduction to an edited volume on the subject explains, “Predictive analytics is the art and science of proposed predictive systems and models.


Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

What is Predictive Analytics and How is it Used in Supply Chain Operations?


You may be familiar with the term predictive analytics – but have you ever stopped to ask yourself what it really means for your supply chain? Analytics help companies streamline process efficiencies and make sure important trends aren’t overlooked.

How To Implement Predictive Analytics Into Your Company


Chances are, if you’re in marketing, sales, or one of the more technical aspects of business, you’ve used predictive analytics in some part of your job. But your company doesn’t have to be a retail giant to use predictive analytics. using predictive analytics?built

Supply Chain Predictive Analytics: What Is It and Who's Doing It?

River Logic

Predictive analytics techniques allow organizations to identify patterns and trends hidden in their data to understand market trends, identify demand and establish appropriate pricing strategies. predictive analytics Supply chain analytics

Artificial Intelligence, Machine Learning, and Predictive Analytics in the Supply Chain


The post Artificial Intelligence, Machine Learning, and Predictive Analytics in the Supply Chain appeared first on Kuebix. Blog Technology AI Machine Learning ML Predictive Analytics Supply Chain technology TMS transportationThe world of transportation and logistics management looks completely different than it did even 50 years ago. Gone are the days of pen and paper and jotting down haphazard notes when on the telephone with a carrier booking freight.

Is it too Early For 2022 Predictions?

Logistics Viewpoints

With Christmas goods in stores before Halloween this year, I thought there was no reason that we shouldn’t also get a jump on 2022 predictions. The post Is it too Early For 2022 Predictions? Logistics Trends 2022 predictions logistics trends

6 Supply Chain Analytics Examples to Keep You Competitive

River Logic

To illustrate the point, a recent paper from Ventana Research on supply chain planning revealed issues that companies using spreadsheet planning have experienced, including: Prescriptive Analytics Supply Chain Advanced Analytics predictive analytics Supply chain analytics Supply Chain Planning supply chain analytics examples

What Are Supply Chain Predictive Analytics?

Intelligent Audit

There is a lot of talk within the supply chain industry regarding the value supply chain predictive analytics. ” Unfortunately, supply chain predictive analytics remains subject to interpretation. A Primer on Analytics.

Modern Supply Chain Analytics: Are You Keeping Up?

River Logic

According to Supply Chain Digital Magazine, many manufacturers are falling behind with more than two-thirds of them being unable to provide data-driven analytical information to support their business decisions.

Seeing the Future with Predictive Analytics

Enterra Insights

Today, in addition to those activities, new analytical tools are available to help business leaders predict what could happen in the future. Petro goes on to predict companies failing to grasp the future risk ending up in history’s dustbin. ” Types of analytics. Predictive analytics — the type of analytics to which Petro refers — are one of four types of analytics now available to enterprises. Descriptive analytics.

The Science and Practical Application of Predictive Analytics


The science and practice of predictive analytics is well established and rapidly gaining ground in the public and private sectors. Take a moment to read our extremely popular post on selecting the right descriptive, predictive, and prescriptive analytics here.

How Predictive Analytics Is Preventing Service Failures for 3PLs

Supply Chain Brain

Enter predictive analytics. The amount of real-time data from multiple sources needed to optimize operations and move product quickly requires advanced, artificial intelligence–enabled technology.

Improving Supply Chain Performance with Predictive Analytics


Predictive shipping analytics derived from freight data add value and enable more streamlined logistics. The post Improving Supply Chain Performance with Predictive Analytics appeared first on MercuryGate International. Blog Analytics TMS Journey TMS Selection

Using Data and Predictive Analytics to Drive Labor Management Solutions in the Warehouse

Talking Logistics

Data intelligence and predictive analytics are key terms in supply chain management today, but how do you harness these new technologies to deliver business value, especially in labor management?

Descriptive, Predictive & Prescriptive Analytics


Data analytics technology has developed exponentially over the past few years due to the phenomenal increase of computer capabilities, algorithms and the emergence of easy to use, simple and user-friendly BI tools. Data analytics is widely explained in three approaches. Understanding and analyzing historical data (descriptive analytics), forecasting the future (Predictive Analytics), and thirdly decision-support (Prescriptive Analytics).

Four Ways a TMS Solution Leverages Predictive Analytics

Supply Chain Collaborator

The shrewd operators are leveraging these data to support predictive analyses with the goal of achieving more accurate planning and execution of logistics as product moves through their supply chain. Here are four ways smart TMS users can harness the power of their data for predictive analytics. Predictive capabilities help shippers protect access to necessary support during critical seasonal times. Blog Collaborator Blog analytics big data data predictive analytics

Predictive Analytics becoming a Mainstream Business Tool

Enterra Insights

Predictive analytics is a topic you are likely to hear a lot more about in the years ahead. Predictive analytics … Continued. The post Predictive Analytics becoming a Mainstream Business Tool appeared first on Enterra Solutions. Best Practices Big Data Business digital enterprise Digital Path to Purchase Supply Chain Technology

Prescriptive Analytics: 22 Things the Experts Are Saying About Analytics’ Rising Star

River Logic

Prescriptive Analytics Supply Chain Optimization Integrated Business Planning predictive analytics

Predictive and Prescriptive Analytics In Logistics

Supply Chain Brain

Between rising consumer demand, supply shortages, and growing economic concerns, shippers are faced with disruption from every possible angle, leaving many questions unanswered. How do you effectively mitigate risk and build a resilient supply chain

Retail Data Explained: Descriptive, Predictive, and Prescriptive


Learn about: The categories of analytics How they relate to retail and supply chain What suppliers can do with that data. Well-balanced business development depends on descriptive, predictive, and prescriptive analytics data. . Analytics Continuum. Descriptive Analytics.

Predictive and Prescriptive Analytics: Your Supply Chain Needs Both

River Logic

As manufacturing companies become increasingly complex and begin leveraging more data, the role of advanced analytics in business planning processes is slowly becoming a necessity. Prescriptive Analytics Advanced Analytics predictive analyticsGartner's 2016 CEO Survey shows that 54% of CEOs claimed that their top strategic priority for the year was business growth.

4 Big Benefits for the Use & Implementation of Predictive Analytics In Manufacturing


The predictive analytics of the past are becoming more apt and intellectual, powering a new age in manufacturing. Additionally, major manufacturers are working to prioritize predictive analytics and use them to improve production. Let's take a look at the increase in utilization and implementation of predictive analytics in manufacturing and what it means for manufacturers. US and China Lead Prioritization of Predictive Analytics in Manufacturing.

Predictive Analytics: Businesses’ Crystal Ball

Enterra Insights

“What if you could predict what products or services your customers wanted before they did,” asks Dr. James Canton (@futureguru), … Continued. The post Predictive Analytics: Businesses’ Crystal Ball appeared first on Enterra Solutions. Artificial Intelligence Big Data Business Cognitive Computing Supply Chain Technology Enterra Solutions Stephen DeAngelis

Business Advantages of Advanced Analytics

Enterra Insights

Violino notes, “It’s one thing to gather large amounts of data and apply analytics to it; lots of organizations are doing that. That means a strong business case must be made for analytics from the outset. ” What Do You Want Analytics to Achieve?

Predictive Analytics: Promising or Scary?

Enterra Insights

The post Predictive Analytics: Promising or Scary? “Big Data is both an over-hyped buzzword and a real trend,” writes Gregory Piatetsky (@kdnuggets), President of KDnuggets, “reflecting the … Continued. appeared first on Enterra Solutions. Artificial Intelligence Big Data Business Supply Chain Technology

Predictive Analytics: Supply Chain’s Cloudy Crystal Ball

Enterra Insights

Not surprisingly, companies that employ advanced analytics to improve decision making and execution have the results to show for it.”. One of the new tools available to decision makers is predictive analytics. Leveraging predictive analytics is as close as business leaders will come to having a crystal ball. She writes, “Ask someone to draw ‘predictive intelligence’ as if they were playing a game of Pictionary.

How does Predictive Modelling help Risk Management?

Prophetic Technology

Predictive Modelling or Predictive Analytics is a carefully worked-out process that pursues to foretell episodes or after-effects by evaluating models likely to forecast outcomes. supply chain predictive risk management

The Role of Digitisation and Analytics in Supply Chain Resilience

The Logistics & Supply Chain Management Society

The Role of Digitisation and Analytics in Supply Chain Resilience. Analytics for Diversifying the Supply Base. A leading risk platform can fully automate risk assessment and procedures using data and analytics. The Role of Digitisation and Analytics in Supply Chain Resilience.

Final Mile Delivery: The Role of TMS and Predictive Analytics

Talking Logistics

How can technology, specifically transportation management systems and predictive analytics, help shippers and third-party logistics providers (3PLs) excel in this area? Karen says, “Predictive analytics can help shippers and transportation companies to analyze past trends, including delivery times, quality and costs, to estimate future needs, to evaluate which couriers to use, and to reroute or change delivery times for better efficiency and service.”.

Project44 acquires ClearMetal to strengthen predictive tools

The Supply Chain Journal

Project44, a leader in real-time visibility of the global supply chain, announced on Thursday it has acquired ClearMetal, a San-Francisco based supply chain planning software company that focuses on international freight visibility, predictive planning and overall customer experience.

Tools 66

Predictive vs. Prescriptive vs. Cognitive Supply Chain Analytics

Blue Ridge

Supply chain analytics is a fuzzy area for many. Lora Cecere tells the difference between predictive analytics, prescriptive and cognitive analytics. The post Predictive vs. Prescriptive vs. Cognitive Supply Chain Analytics appeared first on Blue Ridge.

A Framework for Supply Chain Leaders to Understand Supply Chain Analytics

Supply Chain Shaman

A strained request from a marketing director for a software company ensued, “You did not list us in your analytics report, and we want to know why.” Had I been clear in the taxonomy of the recent supply chain analytics report?” In the 1990s when I was part of the software team at Manugistics, supply chain analytics was a synonym for reporting. Today, when you say the term analytics, the thought in many supply chain leaders is still “reporting.”

Watch: Supplier PO Delivery Delay Prediction Tool


Resilinc offers a predictive analytics tool that leverages AI to identify how a supplier will perform by analyzing past events and on time delivery data. Ready for a more predictive and resilient supply chain? Predictive Analytics Proactive risk mitigation

Tools 62

Editor’s Choice: 5 Ingredients for Predicting Accurate Shipment ETAs

Logistics Viewpoints

This article comes from Vivek Vaid, CTO at FourKites, and examines how to predict accurate shipments ETAs. Predictive intelligence is a big deal these days. The post Editor’s Choice: 5 Ingredients for Predicting Accurate Shipment ETAs appeared first on Logistics Viewpoints. Business Intelligence Guest Commentary Transportation Artificial Intelligence Machine Learning predictive analytics

How VR, 3D Printing & Predictive Analytics in the IOT are Currently Powering the Manufacturing Industry


So, let’s take a look at how our predictions for the first four manufacturing technology trends (Predictive analytics, 3D Printing, and VR) to watch for in 2016 stacked up. Predictive Analytics Became Commonplace to Manufacturing. The use of predictive analytics has the potential to dramatically reduce expenses in the manufacturing sector, particularly with respect to proactive machine maintenance.

What Is Predictive Analytics and Who Is Winning With It

River Logic

Prescriptive Analytics Predictive Modeling and Analytics Advanced Analytics predictive analytics Business Analytics

Supply Chain and Logistics Predictions for 2016

Talking Logistics

Well, my big audacious prediction for 2015 did not come true. But some of my other predictions did hit the mark or came close. Making supply chain and logistics predictions is like throwing darts at a moving target. When making predictions, it’s easy to look at recent trends and simply project them forward. In other cases, we simply fail to see the forest for the trees when making predictions. What are your predictions for 2016?

Is It Safe to Share 2022 Predictions for Manufacturing?


After the last two years, it’s no surprise that some might be hesitant to make predictions about the state of manufacturing, supply chains and digital transformation for the new year. So, let’s break these predictions down.

Predictive vs. Prescriptive vs. Cognitive Supply Chain Analytics

Blue Ridge

Supply chain analytics is a fuzzy area for many. Lora Cecere tells the difference between predictive analytics, prescriptive and cognitive analytics.