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Big Data Predictive and Prescriptive Analytics
Abstract
The Analytics tools are capable of suggesting the most favourable future planning by analyzing “Why” and “How” blended with What, Who, Where, and When. Descriptive, Predictive, and Prescriptive analytics are the analytics currently in use. Clear understanding of these three analytics will enable an organization to chalk out the most suitable action plan taking various probable outcomes into account. Currently, corporate are flooded with structured, semi-structured, unstructured, and hybrid data. Hence, the existing Business Intelligence (BI) practices are not sufficient to harness potentials of this sea of data. This change in requirements has made the cloud-based “Analytics as a Service (AaaS)” the ultimate choice. In this chapter, the recent trends in Predictive, Prescriptive, Big Data analytics, and some AaaS solutions are discussed.
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