Predicting organisational threats and prescribing the corresponding action plans to root out threats and mitigate their impacts is a common skill essential for any organisation. Any organisation faces a clutter of uncertainties, dynamic conditions, risks, dangers and even frauds that can cause permanent damages to the business’ growth. Having the needful intelligence, resources and tools to overcome these challenges are fundamental to creating business value and enhancing the efficiency and effectiveness of a business.
In recent years, prescriptive analytics gained more attention from data-driven organisations to help in responding to predictive insights with the correct approaches. It allows the business to simulate alternative response approaches and help you understand the probability of success of each by clarifying the level of risk in certain events. This technology has facilitated a range of technology-driven industries, like:
- Airline Industry
- Banking and Finance Industry
- Cybersecurity Industry
- Energy and Utility Industry
- Healthcare and Pharmaceuticals Industry
- Manufacturing Industry
- Retail Industry
- Travel and Transportation Industry
This article helps you understand the ins and outs of Prescriptive Analytics and why your organisation must leverage it to enter the new age.
What is Prescriptive Analytics, and Why is it Important?
Prescriptive Analytics is an indispensable technology used by stakeholders that make critical decisions to meet unique organisational goals and objectives. This technology binds techniques and principles of a business by integrating big data to AI-driven algorithms, automated KPI detectors, mathematical and logical models and business rules to prescribe solutions for problems that are pending to occur in future. It manipulates big data, historical data, real-time data feeds, transactional data and high-frequency data to offer two types of decisions: heuristic decisions and optimisation decisions.
Optimisation-Based Decision Support
Heuristics-Based Automated Decision Making
Cerexio’s Predictive Algorithms- Leverage the Full Power of AI and Simulation Technology and Prescribe Better Than Ever
Cerexio is one of the few technology providers that enables reliable and precise predictive and prescriptive technology powered by trained AI models. This technology is paired with predictive maintenance models that help asset managers predict imminent failures, risks and suboptimal performances.
This technology enables more than 80% reduction of spontaneous or unscheduled breakdowns and allows your organisations to save time, money and efforts wasted on maintenance inefficiencies. The prescriptive models have trained to influx the predictive insights and suggest the aptest solution. This will automate not only the process of estimating the problems but also automate the most-fitting solution to solve the problem even before the occurrence of the issue.
Optimise your business decisions by utilising our prescriptive analytics solutions to identify your best causes of action to meet organisational goals faster than ever. Let us probe your business situation and answer the question: what action should we take in this situation? Connect with Cerexio to learn more about why Cerexio Prescriptive Tools are the best technological advancements to optimise direct savings, lower inventory and ensure that your asset networks are online, healthy and constantly show outstanding performance. Join us on a journey to learn more about this technology and how you can adapt it to make your organisation target-oriented and thrive in the digital age.