The next step after predictive analytics is prescriptive analytics, answering the question “what should we do?” Prescription can include minimization of detrimental effects and repetition of beneficial effects.
Applying prescriptive analytics to your organization can help you easily make decisions to reach your desired outcomes more than standard data and analytics alone could.
Cognitive analytics applies intelligence to tasks, much like robotic process automation, and can learn and become more efficient over time as it learns from interactions between your data and your end users. This stage can be achieved at later stages of the analytics journey after gaining experience in operationalizing AI models.
By implementing cognitive analytics in your organization, you’ll gain a competitive advantage by being able to access real-time solutions to problems, improve operational efficiency, and deliver a personalized experience.