In a dynamic business environment every organization is seeking profit maximization & risk mitigation approach, the article talks about the latter, in uncertain business environment business leaders at time of complex & critical decision making take decision on the basis of intuition (gut feeling) rather than holistic analysis of situation. Even with data backed decisions there is a narrower approach attached in form of point estimates & averages. In this article a new approach Prescriptive Analysis is used where business are simulating probabilities to reduce risk that helps in robust analysis. This approach gives us broader perspectives showing us a range of possibilities & helps in better decision making.Read Full article at :- Target=_blankhttp://www.forbes.com/sites/gartnergroup/2016/03/24/use-prescriptive-analytics-to-reduce-the-risk-of-decisions/#465f9994785b

Prescriptive analytics is considered the third wave of the Big Data revolution after descriptive analytics and predictive analytics. Prescriptive analytics add a third layer of technology by evaluating possible actions in response to the data and produce a desired outcome. Combination of predictive and prescriptive analytics can be helpful for organizations which wants to do more in less time. Combining prescriptive and predictive analytics add more features into the equation, such as the responsiveness of a prospect to your outreach. Effective prescriptive analytics deliver more transparency and control. For more read: http://insidebigdata.com/2016/03/03/how-prescriptive-analytics-puts-complex-decision-making-on-rails/

A blog by Carlos Centurion, President, River Logic Solutions, talks about the third phase of analytics i.e. prescriptive analytics. Prescriptive analytics helps not only to anticipate what will happen and when will it happen, but also why will it happen.

Healthcare providers are using various tools of prescriptive analytics to enhance their performance and efficiency.  It also helps the provider to take better decisions. To know more about Prescriptive Analytics in Healthcare Provider Industry, please follow this link:

http://www.riverlogic.com/2014/02/prescriptive-analytics-healthcare-provider-industry/