10 years ago
Predictive Analytics vs. Prescriptive Analytics

 We have all heard and seen the diagrams that relate to the evolution of analytics within the marketplace. Listed below is one such diagram which is probably familiar to most of you The above diagram represents this evolution as encompassing 4 stages (Descriptive Analytics, Diagnostics Analytics, Predictive Analytics, and Prescriptive Analytics). Much of the literature attempts to discuss the proportion of companies that are within each stage. Not surprisingly, most companies are still not at the normative stage of predictive analytics(well under 50%). By normative, I mean that the discipline of predictive analytics has become a critical business