Prescriptive Analytics and Decision Making

In this lesson, we will learn Prescriptive Analytics. We will understand how to answer “What should we do? ” using scenario analysis, optimization, recommendations, decision options, constraints, trade-offs, and action plans through practical examples. ## Lesson objective In this lesson, we will learn Prescriptive Analytics and Decision Making. In the previous lesson, we introduced Predictive Analytics. We learned that Predictive Analytics answers the question “what may happen? ”, and we covered concepts such as forecast, prediction, probability, risk score, feature, target, classification, regression, churn prediction, demand prediction, and interpretation of model results.