I’ve found a really interested post called Machine Learning As Prescriptive Analytics from Jean Francois Puget which I’ve got a roughly the same idea on prescriptive analyst when I was talking with my sister over phone on business analyst.
There are three level of business analytics: descriptive analytics, predictive analytics and prescriptive analytics.
Each of them is answering different business questions.
- Descriptive analytics uses data aggression and data mining to provide insight into the past and answer “What has happened.”
- Predictive analytics uses statistics models and predictive techniques to understand the future and ask “What could happen?”
- Prescriptive analytics use optimization and simulation algorithms to advice on possible outcomes and answer “What should we do?”