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Prescriptive Analytics
Prescriptive analytics is a form of business analytics which suggests decision options for how to take advantage of a future opportunity or mitigate a future risk and shows the implication of each decision option. It enables an enterprise to consider "the best course of action to take" in the light of information derived from Descriptive statistics, descriptive and predictive analytics. Overview Prescriptive analytics is the third and final phase of business analytics, which also includes descriptive and predictive analytics. Referred to as the "final frontier of analytic capabilities", prescriptive analytics entails the application of mathematical sciences, mathematical and computational sciences and suggests decision options for how to take advantage of the results of descriptive and predictive phases. The first stage of business analytics is descriptive analytics, which still accounts for the majority of all business analytics today. Descriptive analytics looks at past performan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Analytics
Business analytics (BA) refers to the skills, technologies, and practices for iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods. In contrast, business intelligence traditionally focuses on using a consistent set metrics to both measure past performance and guide business planning. In other words, business intelligence focuses on description, while business analytics focusses on prediction and prescription. Business analytics makes extensive use of analytical modeling and numerical analysis, including explanatory and predictive modeling, and fact-based management to drive decision making. It is therefore closely related to management science. Analytics may be used as input for human decisions or may drive fully automated decisions. Business intelligence is querying, reporting, online ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Components Of Prescriptive Analytics
Component may refer to: In engineering, science, and technology Generic systems *System components, an entity with discrete structure, such as an assembly or software module, within a system considered at a particular level of analysis *Lumped element model, a model of spatially distributed systems Electrical *Component video, a type of analog video information that is transmitted or stored as two or more separate signals *Electronic component, a constituent of an electronic circuit *Symmetrical components, in electrical engineering, analysis of unbalanced three-phase power systems Mathematics *Color model, a way of describing how colors can be represented, typically as multiple values or color components * Component (group theory), a quasi-simple subnormal sub-group *Connected component (graph theory), a maximal connected subgraph *Connected component (topology), a maximal connected subspace of a topological space *Vector component, result of the decomposition of a vector into v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Healthcare
Health care, or healthcare, is the improvement or maintenance of health via the preventive healthcare, prevention, diagnosis, therapy, treatment, wikt:amelioration, amelioration or cure of disease, illness, injury, and other disability, physical and mental impairments in people. Health care is delivered by health professionals and allied health professions, allied health fields. Medicine, dentistry, pharmacy, midwifery, nursing, optometry, audiology, psychology, occupational therapy, physical therapy, athletic training, and other health professions all constitute health care. The term includes work done in providing primary care, wikt:secondary care, secondary care, tertiary care, and public health. Access to health care may vary across countries, communities, and individuals, influenced by social and economic conditions and health policy, health policies. Providing health care services means "the timely use of personal health services to achieve the best possible health outcom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Utility Companies
A public utility company (usually just utility) is an organization that maintains the infrastructure for a public service (often also providing a service using that infrastructure). Public utilities are subject to forms of public control and regulation ranging from local community-based groups to statewide government monopolies. Public utilities are meant to supply goods and services that are considered essential; water, gas, electricity, telephone, waste disposal, and other communication systems represent much of the public utility market. The transmission lines used in the transportation of electricity, or natural gas pipelines, have natural monopoly characteristics. A monopoly can occur when it finds the best way to minimize its costs through economies of scale to the point where other companies cannot compete with it. For example, if many companies are already offering electricity, the additional installation of a power plant will only disadvantage the consumer as prices ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Geopolitics
Geopolitics () is the study of the effects of Earth's geography on politics and international relations. Geopolitics usually refers to countries and relations between them, it may also focus on two other kinds of State (polity), states: ''de facto'' independent states with List of states with limited recognition, limited international recognition and relations between Administrative division, sub-national geopolitical entities, such as the federated states that make up a federation, confederation, or a quasi-federal system. At the level of international relations, geopolitics is a method of studying foreign policy to understand, explain, and predict international political behavior through geographical variables. These include area studies, climate, topography, demography, natural resources, and applied science of the region being evaluated. Geopolitics focuses on political power linked to geographic space, in particular, territorial waters, List of sovereign states, land territ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Econometrics
Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. M. Hashem Pesaran (1987). "Econometrics", '' The New Palgrave: A Dictionary of Economics'', v. 2, p. 8 p. 8–22 Reprinted in J. Eatwell ''et al.'', eds. (1990). ''Econometrics: The New Palgrave''p. 1 p. 1–34Abstract ( 2008 revision by J. Geweke, J. Horowitz, and H. P. Pesaran). More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference." An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships." Jan Tinbergen is one of the two founding fathers of econometrics. The other, Ragnar Frisch, also coined the term in the sense in which it is used today. A basic tool for econometrics is the multiple linear regression model. ''Econome ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural Gas Prices
Nature is an inherent character or constitution, particularly of the ecosphere or the universe as a whole. In this general sense nature refers to the laws, elements and phenomena of the physical world, including life. Although humans are part of nature, human activity or humans as a whole are often described as at times at odds, or outright separate and even superior to nature. During the advent of modern scientific method in the last several centuries, nature became the passive reality, organized and moved by divine laws. With the Industrial Revolution, nature increasingly became seen as the part of reality deprived from intentional intervention: it was hence considered as sacred by some traditions ( Rousseau, American transcendentalism) or a mere decorum for divine providence or human history ( Hegel, Marx). However, a vitalist vision of nature, closer to the pre-Socratic one, got reborn at the same time, especially after Charles Darwin. Within the various uses of the wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Electric
General Electric Company (GE) was an American Multinational corporation, multinational Conglomerate (company), conglomerate founded in 1892, incorporated in the New York (state), state of New York and headquartered in Boston. Over the years, the company had multiple divisions, including GE Aerospace, aerospace, GE Power, energy, GE HealthCare, healthcare, lighting, locomotives, appliances, and GE Capital, finance. In 2020, GE ranked among the Fortune 500, ''Fortune'' 500 as the 33rd largest firm in the United States by gross revenue. In 2023, the company was ranked 64th in the Forbes Global 2000, ''Forbes'' Global 2000. In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market (by about 75%) as its profitability collapsed. Two employees of GE—Irving Langmuir (1932) and Ivar Giaever (1973)—have been awarded the Nobel Prize. From 1986 until 2013, GE was the owner of the NBC television network through its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Varied Datasets
Variation or Variations may refer to: Science and mathematics * Variation (astronomy), any perturbation of the mean motion or orbit of a planet or satellite, particularly of the moon * Genetic variation, the difference in DNA among individuals or the differences between populations ** Human genetic variation, genetic differences in and among populations of humans * Magnetic variation, difference between magnetic north and true north, measured as an angle * ''p''-variation in mathematical analysis, a family of seminorms of functions * Coefficient of variation in probability theory and statistics, a standardized measure of dispersion of a probability distribution or frequency distribution * Total variation in mathematical analysis, a way of quantifying the change in a function over a subset of \mathbb^n or a measure space * Calculus of variations in mathematical analysis, a method of finding maxima and minima of functionals Arts * Variation (ballet) or pas seul, solo dance or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Key Questions Prescriptive Analytics Software Answers For Oil And Gas Producers
Key, Keys, The Key or The Keys may refer to: Common uses * Key (cryptography), a piece of information needed to encode or decode a message * Key (instrument), a component of a musical instrument * Key (lock), a device used to operate a lock * Key (map), a guide to a map's symbology * Key (music), the scale of a piece of music * Key on a typewriter or computer keyboard Arts, entertainment and media Films * ''The Key'' (1934 film), an American pre-Code film * ''The Key'' (1958 film), starring William Holden and Sophia Loren * ''The Key'', also known as ''Odd Obsession'', a 1959 Japanese comedy drama * ''The Key'' (1961 film), a Soviet animated feature * ''The Key'' (1965 film), a Croatian omnibus film * ''The Key'' (1971 film), a Czechoslovak drama * ''The Key'' (1983 film), an Italian erotic film * ''The Key'' (1987 film), an Iranian film * ''The Key'' (2007 film), a French thriller film * ''Key'' (film), a 2011 Telugu-language psychological thriller * ''The Key'' ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computational Model
A computational model uses computer programs to simulate and study complex systems using an algorithmic or mechanistic approach and is widely used in a diverse range of fields spanning from physics, engineering, chemistry and biology to economics, psychology, cognitive science and computer science. The system under study is often a complex nonlinear system for which simple, intuitive analytical solutions are not readily available. Rather than deriving a mathematical analytical solution to the problem, experimentation with the model is done by adjusting the parameters of the system in the computer, and studying the differences in the outcome of the experiments. Operation theories of the model can be derived/deduced from these computational experiments. Examples of common computational models are weather forecasting models, earth simulator models, flight simulator models, molecular protein folding models, Computational Engineering Models (CEM), and neural network models. Se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
