Question

What is Prescriptive Analytics when doing People/HR Analytics?

Answer 1

A form of advanced analytics which examines data or content to answer the question “What should be done?” or “What can we do to make _______ happen?”, and is characterized by techniques such as graph analysis, simulation, complex event processing, neural networks, recommendation engines, heuristics, and machine learning.

Prescriptive analytics automatically synthesizes big data, mathematical sciences, business rules, and machine learning to make predictions and then suggests decision options to take advantage of the predictions. Prescriptive analytics not only anticipates what will happen and when it will happen, but also why it will happen.

 Predictive, prescriptive analytics solutions enable leaders to answer critical workforce questions about how to develop and manage their people. These insights will enable you to address specific business problems within your employee lifecycle with predictive and prescriptive analytics.

Prescriptive data analytics are the most valuable type of analytics because it uses available data to recommend specific actions that could increase the likelihood of a particular outcome occurring. The reason why predictive and prescriptive analytics are so important is that they allow you to get more out of the data you’re already collecting. You’ll have better intelligence around potential challenges and opportunities before they happen. Predictive, prescriptive analytics solutions generate actionable predictions and recommendations.