The Stream by River Logic

[Infographic] Implementing Prescriptive Analytics: 6 Easy Tips for Success

January 13, 2020 | By Shannon Kearns

6 Quick Steps to Success

Today, less than 15% of mid- to large-size businesses are using prescriptive analytics, the pinnacle of advanced analytics disciplines. However, in the next few years, the number of users will drastically increase. Take, for example, 74% of supply chain leaders who say their primary investment will be in advanced analytics over the next several years. Why the surge in plans to use? 

With AI and machine-learning capabilities, companies are seeking technology advantages that will produce cost-savings and increased profit opportunities no matter what the ever-changing external factors may be. 

One of the greatest challenges for companies that want to embrace prescriptive analytics is the perceived difficulty in initiating these solutions. Corporate executives have traditionally encountered solutions that overpromise and underdeliver. Radical results with prescriptive insights are frequently counterintuitive, creating skepticism that the prescribed courses of action will yield the best outcome for the company as a whole. 

This infographic provides six proven steps that guarantee companies will see maximum value from implementing prescriptive analytics  for planning and decision support.

Implementing Prescriptive Analytics_6 Quick Tips to Success

Real World Industry Examples of Applying Prescriptive Analytics

 

You May Also Enjoy Reading
How to Start Using Prescriptive Analytics: Your 12-Step Guide…(Read More)
9 Key Steps to Evaluating Supply Chain Analytics Software…(Read More)
6 Supply Chain Analytics Examples to Keep You Competitive…(Read More)
Topics

Posts by Topic

    Supply Chain Brief