We often use the terms descriptive, predictive, and prescriptive analytics with our clients to define our work. This piece is helpful in understanding each one and what they mean to the client.
Descriptive analytics includes the collection of behavioral data and defining the current state of affairs. Here we assess the current staff or hiring process and compare it with other known data.
Predictive analytics included the use of the descriptive data along with historical data and profiling tools to predict what type of person will fit in a given job.
Presciptive analytics is our advice on how you can use the information from the previous two to improve your business metrics. From sales to safety, data combined with our consulting experience can point you in a direction that will improve your business.
Thomas H. Davenport, Professor at Babson College describes each in this short video