Predictive and Prescriptive Analytics Solutions

With the advancement of technology and abundance of data your business receives on a daily basis, companies are now in need of analytics solutions that can draw meaningful data from volumes of information, to help improve operations and performance.

Before acquiring Predictive or Prescriptive analytics tools, know the purpose for each and see if it matches the concerns of your business.

Predictive Analytics is known to be the tool used by leading companies to help manage the data of their customers. The most popular online streaming service in the world, Netflix, utilizes millions of information that they receive from their users on a daily basis, including the content streamed and how much of it they’re consuming.

Data collected is used by Netflix in the following ways:

  • To predict which of their content each user would be most likely to consume (“Suggested Shows”)
  • To predict which content will most probably be successful if made available for streaming on their platform

 

Prescriptive Analytics assists in handling information for critical decision-making. It does this by simulating decisions that a business may make, and the probable impact of these decisions – predicting multiple scenarios and their multiple outcomes. This requires an in-depth study of the complexities their business problem may have.

UPS, a well known logistics service has been using prescriptive analytics to save their business from losing millions of dollars per annum on fuel. This was made possible through the analysis and aggregation of hundreds of sources for route optimization, which shaves 10.00s off each minute of travel.

Knowing the strengths of each data processor, we chose to compare three of the best software packages for each. Here is what we found:

Should you wish to know more about what tools are available to improve your business processes, get in touch with Fusion Professionals.

Fusion Insights

Many organisations don’t realise it, but in our current environment Data has become the main differentiator in the market. Most…

MORE INFORMATION

Professional services, one of the fastest growing sectors of the Australian economy, covers a broad group of companies and organizations…

MORE INFORMATION

We experience an increasing polarisation in our political landscape with tribalism becoming a real issue. This is partially to be…

MORE INFORMATION

Oracle’s introduction of the self-driving, self-securing, and self-repairing Autonomous Database draws upon its decades of expertise in automating databases and…

MORE INFORMATION

In a recent blog post from Dataiku, the leading data science, machine learning, and AI platform, Lynn Heidmann explored ways…

MORE INFORMATION

“With Great Power Comes Great Responsibility” One of the biggest ongoing responsibilities that comes after commissioning an Exadata appliance is…

MORE INFORMATION

According to Constellation Research, a little more than half of traditional Fortune 500 companies have disappeared due to the lack…

MORE INFORMATION

Fusion Professionals has signed a partnership agreement with Dataiku, one of the world’s leading machine learning platforms that moves companies…

MORE INFORMATION

Statistical language models apply probability distributions to a sequence of words. These models are finding increasing use as natural language…

MORE INFORMATION

Challenges The Company, one of Australia’s largest and fastest growing Telco companies had 2 primary SharePoint environments that had different…

MORE INFORMATION

Containerization allows applications to run on any machine- anytime, anywhere so long as they are compatible. By virtualizing your OS,…

MORE INFORMATION

So you’ve finally decided that the cloud is safer than corporate data centers and digital assets and you’ve chosen to…

MORE INFORMATION

Building a system that houses your organisation’s data can be daunting, especially now that data acquisition is growing rapidly. The…

MORE INFORMATION

Human-to-machine communication has not yet been perfected, but enterprises are already beginning to integrate this groundbreaking technology into their operations,…

MORE INFORMATION

Fusion Professionals has signed a partnership agreement with MapR Technologies, provider of the industry’s leading data platform for AI and…

MORE INFORMATION

“Big data is at the foundation of all of the megatrends that are happening today, from social to mobile to…

MORE INFORMATION

In recent years data volumes have been increasing dramatically. This has created major challenges for traditional analytics platforms in terms…

MORE INFORMATION

With the increasing volumes of data that can be cost effectively stored in the cloud, comes increasing responsibility. The current…

MORE INFORMATION

With the advancement of technology and abundance of data your business receives on a daily basis, companies are now in…

MORE INFORMATION

Fusion Professionals held its annual Fusion Summit last Thursday the 18th of October at the Rag and Famish Hotel in…

MORE INFORMATION