In what ways do prescriptive analytics impact your chosen career…

jeanisamoore In what ways do prescriptive analytics impact your chosen career…In what ways do prescriptive analytics impact your chosen career field? Do you think it is currently important or do you think prescriptive analytics have yet to be widely adopted?  Is this answer below correct if so why? The integration of prescriptive analytics into data analytics has been a popular topic in almost any career field. From science, and business, to social media, there have been unique hypotheses on how to use prescriptive analytics to help businesses make decisions more efficiently and effectively. I think that prescriptive analytics has especially incredible potential for my chosen career field, which is business because business leaders and managers need to make informed decisions based on what products they are going to create and how to properly manage production, marketing, and selling of the products. In “Why The Future Of Data Analytics Is Prescriptive Analytics” an online news article from Forbes, Daniel Newman (2020) supports the view of how significant prescriptive analytics will be for future businesses and how to use it properly inside of your business. Prescriptive analysis, according to Newman (2020), is “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”. In other words, prescriptive analytics, in a sense, creates different outcomes or options you can evaluate and choose from. This can be helpful when a CEO of a company wants to introduce a new product but doesn’t know which method would be best (Newman, 2020) or a manager wants to start in a new marketing direction and doesn’t know which method their customers would react better to (Newman, 2020). But how does prescriptive analytics create different outcomes from the data provided? Newman (2020) answers that question by stating “It uses AI and machine learning to guide buyers with less human interaction—prescribing the right buyer, at the right time, with the right content—telling sales people which product to offer using what words—informing you what price to use at what time in which situation. This information allows you to maximize not just sales but price and profit overall”.Prescriptive analytics has the potential to be game-changing for businesses in the future because of how much time and energy it can save businesses.  Based on how many articles have been released about the topic, prescriptive analytics seems to be a very important data analysis tool for businesses right now. However, I don’t believe that it has been widely adopted as a mandate for all businesses to use yet. Possibly because this concept is still relatively new, and not a lot of people know how to use it. Hopefully, in a few more years, prescriptive analytics will become more mainstream throughout the world and eventually become the go-to analytics decision tool for the future. BusinessBusiness – Other