Descriptive, Predictive and Prescriptive Analytics Explained

Logility

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

How To Implement Predictive Analytics Into Your Company

Logility

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

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

Kuebix

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.

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

The Science and Practical Application of Predictive Analytics

Logility

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.

Improving Supply Chain Performance with Predictive Analytics

MercuryGate

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

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

Kuebix

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.

Predictive Analytics and Future Supply Chains

Enterra Insights

That’s why spending on supply chain advanced analytics is on the rise. Analysts from River Logic write, “The importance of supply chain analytics is demonstrated by predictions that the market will grow at a CAGR of 17.3% Thanks to cognitive technologies and big data, predictive analytics allow decision-makers a peek into the future. Cognitive technologies and predictive analytics. ” Predictive analytics and future supply chains.

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

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.

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

Retail Data Explained: Descriptive, Predictive, and Prescriptive

SupplyPike

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.

Descriptive, Predictive & Prescriptive Analytics

DynaSys

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).

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?

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

River Logic

Prescriptive Analytics Supply Chain Optimization Integrated Business Planning predictive analytics

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

GlobalTranz

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.

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

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.

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

Halloween 2021 Predictions

Enterra Insights

Halloween Predictions. According to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics, “Consumer spending on Halloween-related items is expected to reach an all-time high of $10.14

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.

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

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 67

Watch: Supplier PO Delivery Delay Prediction Tool

Resilinc

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

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.

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

GlobalTranz

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.

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.”.

What Is Predictive Analytics and Who Is Winning With It

River Logic

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

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.

Resilinc Launches Predictive Purchase Order (PO) On-Time Delivery Solution

Resilinc

Predictive analytics tool leverages AI to identify how a supplier will perform by analyzing past events and on-time delivery data. We’re pleased to announce the launch of our Predictive Purchase Order (PO) On-Time Delivery solution.

Advanced Analytics Are Everywhere!

Logility

Today it seems like you can buy just about any type of device that supports analytics including: Toothbrushes that analyzes your brushing habits and alerts you to ways to maximize brushing through your smart phone; Wristwatches that tracks your every motion and provides performance metrics to help you meet your health and fitness goals; Refrigerators that monitor product usage and recommend when to buy milk or suggests new products based on actual consumption data; and. Analytics

The Power of Predictive Analytics

E2open

The Power of Predictive Analytics. The use of predictive analytics is rising. According to KPMG’s 2016 Global Consumer Executive Top of Mind Survey , the use of predictive analytics will double by 2018, with 46% of companies planning to use advanced analytics to sense and shape demand within the next two years. This is where predictive and prescriptive analytics become important. alyssa. Tuesday 30 August 2016.