It's no longer enough to be able to predict what might happen-organizations also need to know how to respond to predictive insights. This white paper describes how predictive analytics and decision optimization can work together to create a powerful end-to-end decision management system.
The synergy between predictive analytics and decision optimization is critical to good decision making. Predictive analytics offers insights into likely future scenarios, and decision optimization prescribes best-action recommendations for how to respond to those scenarios given your business goals, business dynamics, and potential tradeoffs or consequences.
Together, predictive analytics and decision optimization provide organizations with the ability to turn insight into action—and action into positive outcomes.
In this white paper, you’ll gain a better understanding of:
The difference between predictive and prescriptive analytics
How predictive and prescriptive actions complement one another to help you achieve optimized business decisions
IBM’s approach to creating a powerful end-to-end decision management system
Every day, people in your organization are struggling to make the right decisions - working with customers, partners, and each other - because they simply can't use all available data. There's too much of it for humans to internalize, understand, and apply in real time. That's why organizations that automate and optimize decisions informed by predictive analytics have a significant advantage over competitors. Read this IBM white paper and discover how decision management can help you effectively leverage your business data to support faster, more-accurate real-time decisions in virtually every area of your business. You can learn the following: the common types of business decisions and how decision management affects them; why most decisions today aren't based on any real business insight; benefits of decision management-what it is and how to adopt it; and the role of predictive analytics in effective decision management.
IBM's Intelligent Pricing approach helps you to make the right pricing decisions for your business throughout the selling season.
Watch a video demonstration that follows Ski Sales, a specialty retail store. Explore how to optimize online and offline pricing capabilities to ensure consistent support through all business channels and across the product lifecycle with Price Optimization, Markdown Optimization and Dynamic Pricing.