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Prescriptive Analytics at All Stages

​February 18, 2016

By Stephen H. Yu, Target Marketing

I don’t know who or which analytics company started it, but we often hear that “prescriptive analytics” is at the top of the analytical food chain. I’m sure anyone who is even remotely involved in marketing analytics has seen that pyramid chart, where BI and dashboard reports are at the bottom, then the descriptive analytics next, and then predictive analytics, and the prescriptive analytics on top. I, too, often differentiate different types of analytics, as they all serve very different purposes at different stages of marketing (refer to “How to Outsource Analytics”). However, I wholeheartedly reject the notion that so-called prescriptive analytics should deserve the position at the top of the pyramid.

If the chart meant to display “difficulty” of conducting various types of analytics, it may make some sense. Unfortunately, the users do not see it that way, but they see it as a roadmap. As if one must graduate lower-level status to move on to a more advanced level of analytics (I don’t really care for the term “advanced analytics,” either). That kind of hierarchical order surely is not, and should not be the case in the analytics business.

Read the full article here.