Big Data and Prescriptive Analytics
Big Decision & Big DataThis discussion addresses the following module outcomes:
It is difficult to read any business periodical or journal without running into the term “big data.” A Google search on the term will return some 263 million results. Granted, there is a lot of hype about the topic, but its existence is real and its impacts are profound. Two especially relevant aspects of big data impacting businesses today are predictive and prescriptive analytics, the latter being less familiar to most people. How do prescriptive analytics impact your chosen career field? Do you think it is currently important or do you think it is yet to be widely adopted? Find, summarize, and reference a mainstream news article or research article supporting your response.The article must be current, with a date and author |
Answer preview
Big data refers to complex and large data regarding various business activities which cannot be processed by conventional machines or applications. It’s analyzed to make critical business decisions. It has been mostly employed in making marketing decisions and human resource sector of businesses (Morgan, 2019). Most businesses and organizations use the analysis of big data to aid in making critical decisions. Prescriptive analytics is a component of business analytics that identifies the most viable course of action for a particular situation or problem. According to Blake Morgan’s article published on 21st February 2019 on the Forbes magazine, prescriptive analytics may be utilized in efforts to improve the customer experience. The prescriptive data takes descriptive…
(400 words)