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Prescriptive Analytics
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Inventory management always seems to be trade-off between reliable production and low stock levels. By using mathematical optimization, you can have both at the same time.
There are some buzzwords, that are used quiet often when it comes to analytics. In our new video about buzzwords in analytics, we explain what descriptive, diagnostic, prescriptive and predictive analytics actually are about.
Life – and planning in particular – would be so much easier if we knew in advance what was going to happen in the future. Of course, that’s not possible. But with predictive analytics, we come pretty close, at least for our planning questions.
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