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

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

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

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

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

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The Client is one of major NSW government departments providing services to public. The Department had been experiencing performance issues…

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Though its conception dates back to 1979, containers made their mark as much needed, major technology assets in 2000. Digital…

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Objective The intelligent mobile app-based lending system is a new field, blending recent technical developments in mobile phones and Artificial…

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Our Client is a well-known Australian freight logistics company, operating in railway freight and shipping.  The company embarked on a…

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Data warehouse management and data analytics always had the challenge to decide what data to store and for how long…

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Cloud computing is becoming a preferred storage platform for IT managers and organisations in general. In Australia alone, 31 percent…

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Serving your customer in the best possible, most efficient way should always be the major goal of any organisation. The…

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Moving out from proprietary software seems like a daredevil act, considering the possible data security issues some open source databases…

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The Challenge Complex IT environments can pose significant technical risk that, if not managed adequately, have the potential of major…

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Fusion Professionals has signed a partnership agreement with Waterline Data ( https://www.waterlinedata.com/ ) the leading provider of Information Catalogs and…

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Most people do not like change. As much as possible, they want things to stay the same that is why,…

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Regardless of your infrastructure whether you are running in the cloud or on-premise, there will always be a need to…

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Data Analytics tools provide Data Scientists and Data Engineers with the instruments to find patterns in data and provide business…

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Fusion Professionals held its Fusion Meld 2018 event last Thursday, the 17th of May at the Terrace Hotel in North…

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Over the past 10 years, data has grown into a behemoth that dominates business intelligence. A huge percentage of the…

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A data lab is a well-equipped environment that allows organisations to explore and examine new ideas by combining new data…

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