We incorporate Descriptive, Predictive and Prescriptive Analytics in our engagements with customers.     

  • Descriptive analytics: data that provides information about what has happened in your company. Looks at past performance and understands that performance by mining historical data to look for the reasons behind past success or failure. Think about a monthly sales report, web hit numbers, marketing campaign rates, etc. They give you insights on how a project performed. This is the most basic form of analytics.
  • Predictive analytics: answers the question what is likely to happen. This is when historical data is combined with rules, algorithms, and occasionally external data to determine the probable future outcome of an event or the likelihood of a situation occurring— Pulling on more complex machine learning and AI processes and algorithms, predictive analytics help you determine what will happen how well a product will sell, who is likely to buy it, who is likely to quit / attrite, which marketing to use for the greatest impact.
  • Prescriptive analytics: data that provides information on not just what will happen in your company, but how it could happen better if you did x, y, or z. Beyond providing information, prescriptive analytics goes even one step further to recommend actions you should take to optimize a process, campaign, or service to the highest degree.