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

Prescriptive Analytics is Going Mainstream. Is your Organization Ready?

AIMMS

To do this, many are relying on prescriptive analytics. According to Gartner, 11% of mid and large-sized enterprises currently have some form of prescriptive analytics. AIMMS has been in the market of prescriptive analytics (otherwise known as mathematical optimization) since 1989. Let’s explore what’s changed in the last three decades and what your organization should consider when driving prescriptive analytics adoption. .

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New Ventana Research on Supply Chain Planning and Prescriptive Analytics

River Logic

River Logic recently sponsored a new piece of Ventana Research entitled "Supply Chain Planning with Prescriptive Analytics: Technology Enables a More Effective Process.". Prescriptive Analytics Market Research

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.

3 Compelling Reasons to Start Using Prescriptive Analytics

AIMMS

If you’ve read up on the latest topics in the field of data analysis, then you’ve probably encountered the term Prescriptive Analytics. Prescriptive Analytics is a type of Advanced Analytics that results in a recommended action. Prescriptive Analytics is at the cutting edge of data science and companies are increasingly interested in exploring its benefits. Our modeling platform allowed them to analyze and see feasibilities at greater speed.

Supply Chain Research Calls Out the Pressing Need for Prescriptive Analytics for Decision-Making

River Logic

DALLAS, January 22, 2019 -- River Logic , a leading provider of prescriptive analytics solutions, today announces the release of a sponsored research perspective by Ventana Research’s Robert Kugel, Supply Chain Planning with Prescriptive Analytics: Technology Enables a More Effective Process. Prescriptive Analytics Supply Chain Supply Chain Optimization

Descriptive, Predictive & Prescriptive Analytics

DynaSys

To ensure sustainability in an ever-changing and competitive domain, companies must constantly adapt and readapt supply chain technology and processes. 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.

Confused About What to Do? Try Prescriptive Analytics.

Enterra Insights

Although each of these activities has value, new analytical tools are available to help business leaders predict what could happen in the future and assist them in deciding how to proceed. Those tools became possible with the creation of large datasets (aka big data) and the maturation of artificial intelligence (AI). As AI and machine learning continue to develop, the way we use analytics also continues to grow and change. Types of analytics.

Prescriptive Analytics is Going Mainstream. Is your Organization Ready?

AIMMS

To do this, many are relying on prescriptive analytics. According to Gartner, 11% of mid and large-sized enterprises currently have some form of prescriptive analytics. Source: Gartner, Forecast Snapshot: Prescriptive Analytics Software, Worldwide, 2019.

AIMMS 156

Prescriptive Analytics Software: Here’s What You Need to Know

River Logic

Prescriptive Analytics Optimization Optimization software modeling software prescriptive analytics software

Role of Prescriptive Analytics in Supply Chain Vision 2030

River Logic

Role of Prescriptive Analytics in Next Generation Decision Support. There is a new technology revolution in the making with the explosion of Internet of Everything, Machine Learning, self-driving cars, etc. Prescriptive Analytics Supply Chain ManagementFigure 1. This conjures an image of large scale automation of decisions based on real-time information. This is a vision that is applicable to the supply chain world as well.

From import tariffs to the next tsunami: how Prescriptive Analytics can help you build agility and resilience into your Supply Chain Network

AIMMS

You should be able to model unforeseen disruptions, understand their impact, and use prescriptive analytics to put a plan in place that mitigates the negative impact on your bottom line. A supply chain network design technology that incorporates prescriptive analytics makes it easier to model the impact of these scenarios and create contingency plans. Leverage our 30 year track record in prescriptive analytics.

How to Start Using Prescriptive Analytics: Your 12-Step Guide

River Logic

Fortunately, the development of fifth-generation constraint-based programming has greatly simplified prescriptive analytics model preparation, and it's no longer necessary to have advanced mathematical programming skills.

3 Compelling Reasons to Start Using Prescriptive Analytics

AIMMS

If you’ve read up on the latest topics in the field of data analysis, then you’ve probably encountered the term Prescriptive Analytics. Prescriptive Analytics is a type of Advanced Analytics that results in a recommended action.

Invest in These Capabilities to Drive Supply Chain Excellence

AIMMS

The report outlines the tools with the highest transformational benefits and capabilities that are becoming standard business practices. These capabilities include Machine Learning and Prescriptive Analytics , and organizational models like Agile Teams. Prescriptive Analytics.

Why chemical companies need prescriptive analytics for S&OP

AIMMS

Having the right technology is key. Spreadsheets and legacy tools are no longer enough. Many chemical companies are using S&OP (Sales & Operations Planning) as a tool to tie up operational planning and activity with financial goals and strategy. Many are still using spreadsheets and legacy tools to support this process. The case for prescriptive analytics capabilities in S&OP.

Is Prescriptive Analytics really going to disrupt how Supply Chains evolve?

AIMMS

I’m a big fan of Prescriptive Analytics but does this mean I dump ERP? I’m going to build a supply chain analytics center of excellence. These are projects that by nature provide processes and technology that furnish business users with a recommended action – it’s Prescriptive Analytics. I’m going to use a Prescriptive Analytics technology that I can leverage to build my own applications quickly.

Internet of Things (IOT), Cost-to-Serve, Segmentation and Supply Chain CoEs are unable to deliver promised business value without Prescriptive Analytics

AIMMS

It brings together a long list of trends, enabling technologies, business frameworks and competencies that should be in your consideration set. As a Gartner recognized Prescriptive Analytics software company, we’re most interested in all things digital that have analytical flavor by nature. We see our clients deliver strong value from digital innovation, but only when organizations have the knowledge and technology to do things differently.

How Prescriptive Analytics can help you build supply chain network agility and resilience

AIMMS

How can Prescriptive Analytics help? You should be able to model unforeseen disruptions, understand their impact, and use prescriptive analytics to put a plan in place that mitigates the negative impact on your bottom line.

From import tariffs to the next tsunami: how Prescriptive Analytics can help you build agility and resilience into your Supply Chain Network

AIMMS

You should be able to model unforeseen disruptions, understand their impact, and use prescriptive analytics to put a plan in place that mitigates the negative impact on your bottom line. A supply chain network design technology that incorporates prescriptive analytics makes it easier to model the impact of these scenarios and create contingency plans. Leverage our 30 year track record in prescriptive analytics.

TBM CONSULTING GROUP PARTNERS WITH RIVER LOGIC TO ENHANCE PRESCRIPTIVE ANALYTICS CAPABILITIES TO SUPPLY CHAIN CLIENTS

River Logic

DALLAS, January 30, 2018 - River Logic , a leading provider of prescriptive analytics technology, today announced its new partnership with TBM Consulting Group , an operations and supply chain consulting firm known for its Lean heritage and expertise in operational excellence. TBM helps clients dramatically accelerate and sustain operational results using a powerful combination of process rigor and enabling technologies

Dallas 101

Use Prescriptive Analytics to see value from Internet of Things and other digital initiatives

AIMMS

It brings together a long list of trends, enabling technologies, business frameworks and competencies that should be in your consideration set. As a Gartner recognized Prescriptive Analytics software company, we’re most interested in all things digital that have analytical flavor by nature.

Is Prescriptive Analytics really going to disrupt how Supply Chains evolve?

AIMMS

In a time when the term ‘disruptive’ is being over-used I find myself increasingly using the term when describing the impact of our Prescriptive Analytics product to clients and prospects. I’m a big fan of Prescriptive Analytics but does this mean I dump ERP?

Predictive vs Prescriptive Analytics: Does the Difference Matter?

River Logic

Predictive and prescriptive analytics are two forward-looking tools used by business leaders which overcome these limitations. Using a combination of historical data (descriptive analytics), rules and a knowledge of the business, they more accurately predict the future, and, in the case of prescriptive analytics, guide leaders to the best overall decisions. Prescriptive Analytics predictive 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.

Consumer Products Manufacturer: A New Prescriptive Analytics Platform Paves the Way for Better Service at a Lower Cost

River Logic

Prescriptive Analytics CPG Consumer Packaged Goods

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 Secret to Rapid Digitisation: A Dual Platform Strategy

The Logistics & Supply Chain Management Society

One of the industry’s biggest concerns is how to digitise and transform quickly, without starting from scratch and having to throw away your enormous investment in traditional systems. Eliminate the huge costs associated with maintaining and upgrading legacy systems.

Summer Reading 2018: Top 6 Blogs on Supply Chain Analytics

AIMMS

Could this have been prevented by using Prescriptive Analytics? . Why you don’t need perfect data to start implementing S&OP – To truly improve business performance and predictability with S&OP, you need to embark on a change management process and you need the right technology to self-enable your team. AIMMS Digital transformation Prescriptive Analytics Sales and Operations Planning Supply chain optimizationWant to avoid summer stagnation?

[Infographic] Prescriptive Analytics, Demystified

River Logic

As an employee of one of the major providers of prescriptive analytics software on the market, I've been dying to know: Do people even know what the hell prescriptive analytics is ? Not only that, but do those people driving the major business decisions really understand the value of prescriptive analytics? Prescriptive Analytics Advanced Analytics

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.”

Transform Your Supply Chain or Lose Out to Competitors

River Logic

The business world is in a state of flux as new technologies continually change the way companies operate. Prescriptive Analytics Supply Chain Advanced AnalyticsThe pace of innovation is fast. Those in the lead respond to changing market demands quickly and efficiently, leaving behind those who rely on inflexible and dated supply chains.

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.

Supply Chain Network Design: 9 Crucial Factors to Consider

River Logic

Prescriptive Analytics Supply Chain Management Supply Chain Supply Chain Optimization modeling software Network Design Supply Chain Network Design

Summer Reading 2018: Top 6 Blogs on Supply Chain Analytics

AIMMS

Could this have been prevented by using Prescriptive Analytics? Why you don’t need perfect data to start implementing S&OP – To truly improve business performance and predictability with S&OP, you need to embark on a change management process and you need the right technology to self-enable your team. The post Summer Reading 2018: Top 6 Blogs on Supply Chain Analytics appeared first on AIMMS - Supply Chain Management, Analytics, and Optimization Blog.