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The basis of prospective analytics in business

100%

Wolniak R. , Grebski W.

tom z. 176

771--789

Purpose: The goal of the paper is to analyze the main features, benefits and problems with the prospective analytics usage. Design/methodology/approach: Critical literature analysis. Analysis of international literature from main databases and polish literature and legal acts connecting with researched topic. Findings: Prescriptive analytics aims to assist businesses in making informed decisions that optimize desired outcomes or minimize undesired ones. It goes beyond predicting future outcomes and provides recommendations on the best actions to achieve desired goals while considering potential risks and uncertainties. Prescriptive analytics finds applications in various domains such as supply chain management, financial planning, healthcare, marketing, and operations management. It empowers businesses to make data-driven decisions, optimize resource allocation, enhance efficiency, and gain a competitive advantage. Considered the highest level of analytics, prescriptive analytics combines historical data, real-time information, optimization techniques, and decision models to generate actionable recommendations. Originality/value: Detailed analysis of all subjects related to the problems connected with the prospective analytics.