Prescriptive Analytics to Understand the Future Demands

NURAY GOKMEN KAHVECI | DIGITAL MARKETING MANAGER

Prescriptive analytics can tell the organizations how to overcome future bottlenecks predicted by Predictive analytics techniques. Gartner reports that only 10% of companies are currently taking advantage of prescriptive analytics. However, they project this number will increase more than three-fold within the next four years.

The fundamental value of supply chain management is to control the manufacture, storage, transportation and sale of goods-services to meet customer demand. In most cases the goal is to have what the customer wants, when the customer wants it, and keep nothing else. Predictive analytics is the practice of utilizing a large amount of data to gain insight into possible future scenarios in order to manipulate a positive outcome.

Here are some questions that the prescriptive analytics can solve :

  • What kind of an offer should we make to each customer?
  • What should be my shipment strategy for each retail location?
  • Which product should I launch and when?
  • Where should I build a new factory?
  • Should I build a new factory?

Check out our Prescriptive Inventory Management solution.

 

Please follow and like us:

Leave a Reply