Are you data rich but insights poor? Actionable insights are the missing link between data and business value. ISI’s Data Insights methodology will help your company maximize the power of your data and move you along the data insights maturity curve from descriptive to predictive to prescriptive insights. Descriptive, Predictive and Prescriptive analytics are interrelated solutions that enable companies to leverage the data they collect. ISI can help you identify and implement the best data insight solution for your company.
90% of organizations today use descriptive analytics, which is the most basic form of analytics. This analyzes the live data as well as historical data in real-time, providing insights into how to position your business for the future. The main objective of descriptive analytics is to determine the key drivers behind previous successes and failures. ISI has extensive experience in implementing reporting ecosystems and helping clients answer the question – “What business decisions and market/operational conditions drove past performance?”
Predictive analytics helps organizations forecast the likelihood of a future outcomes by using various statistical and machine learning algorithms. Predictive analytics is the practice of extracting information from existing data sets in order to determine patterns that assist in predicting future outcomes and trends. ISI can help companies answer the question – “What will likely happen in the future based on previous trends and patterns?”
Prescriptive analytics provide insights into the strategic, tactical and operational steps one can take to influence future outcomes and achieve targeted business metrics. ISI can help companies implement simulation and optimization models to answer the question – “What should I do to influence/produce my desired future outcome?”