May 5, 2025
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prescriptive analytics

Prescriptive Analytics Use Cases

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Optimizing business outcomes through advanced analytics and real-time scenario analysis represents a significant leap forward in decision-making processes. In practice, advanced analytics provides a framework for evaluating an extensive array of potential outcomes derived from different decision paths.  It integrates ML models that simulate various scenarios in real time, thereby offering a dynamic decision-support system….

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Fundamentals of Descriptive Analytics

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In descriptive analytics, data aggregation, and data mining techniques are used to collect and review the historical data of a business to gauge the past performance. The most common example of descriptive analytics is the reports that a user gets from Google Analytics tools. A web server’s summarized performance reports may help the user analyze…

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Demystifying Advanced Analytics: Which Approach Should Marketers Take?

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“Advanced analytics” has been the new buzzword on every organization’s mind for the past several years. Recent advancements in machine learning have promised to optimize every arm of an organization – from marketing and sales to supply-chain operations.  For some, investments in advanced analytics have been worth the hype. Those who succeed can gain a…

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Demystifying Data Analytics Models

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In today’s global landscape, organizations worldwide are increasingly turning to data analytics to enhance their business performance. Research conducted by McKinsey Consulting revealed that data-driven companies not only experience above-market growth but also witness EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increases of up to 25% [1]. Additionally, Forrester’s findings indicate that organizations utilizing…

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How to Become a Citizen Data Scientist

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The job responsibilities of a citizen data scientist include dealing with new data, using automated tools to process big data, and creating additional models to gain additional insights. Their primary job is not to make predictions directly from big data, or develop prescriptive analytics, but to build models and use tools that accomplish those goals….

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Fundamentals of Predictive Analytics

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Predictive analytics (PA) is a subfield of data analytics and business intelligence that deals with an in-depth analysis of past events and forecasts of future events. This specialized branch of data analytics combines the power of data mining, data modeling, artificial intelligence (AI), and machine learning (ML) to make probabilistic predictions of future events. Predictive analytics relies…

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