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Sunday, 14 February 2021

What is likely to happen? The journey of Prescriptive Analytics

 This is the final frontier in data analytics-- the ability to respond in real time to event data in a way that allows you to back the instincts of the decision maker with data. If your data is telling you what your instincts are saying, the chances of making an informed decision to influence outcomes increases.

However, the right questions have to asked of the data otherwise the outcome will not be what was desired.



Some examples in banks where this type of data analysis is prevalent:

Customer insights based on NLP based sentiment analysis which can be fed into the mobile app

Trading intelligence on what stocks to buy

Better credit scoring by using non traditional sources like social likes .


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