Data Intelligence, Business Analytics
I came across an interesting read about prescriptive analytics that I wanted to share with the community. The author describes prescriptive as the next evolution after predictive analytics. This paragraph summarizes the differences between Predictive and Prescriptive:
While predictive analytics helps you model and forecast what might happen in the future, prescriptive analytics helps you decide the best course of action to take given your objectives, requirements and constraints. It seeks to find the optimal solution given a variety of choices, alternatives and influences that might affect the outcome. An even more advanced area of prescriptive analytics uses stochastic optimization to also take into consideration the uncertainty that might exist in the data used in the analysis.
Being able to analytically guide a decision based on objectives, requirements and constraints is an intriguing future development for current talent measurement technologies. Today, organizations can leverage talent analytics technology to guide talent decisions by measuring and forecast team behavior and motivations.
Bright future for analytics in context of HR Technology.