Prescriptive analytics enables managers to explore different scenarios and evaluate new business opportunities by playing the “what-if” game. It enables the evaluation and comparison of different options as part of the decision making process. This leads to a deeper understanding about how to define and achieve business and operating goals.
Implementing prescriptive analytics using simulation methods within a Business Intelligence (BI) program provides additional capabilities to existing BI programs. Answers to advanced business questions starting with "why" and "what if" can now be answered. Maintaining the models in a calibrated and reliable manner over time requires rigorous data management practices based on principles of integration and quality.