Simulating Business Processes for Descriptive, Predictive, and Prescriptive Analytics

Price: $76.99 – $60.11
(as of Dec 27,2024 18:10:51 UTC – Details)

Publisher ‏ : ‎ De Gruyter; 1st edition (October 21, 2019)
Language ‏ : ‎ English
Perfect Paperback ‏ : ‎ 352 pages
ISBN-10 ‏ : ‎ 1547416742
ISBN-13 ‏ : ‎ 978-1547416745
Item Weight ‏ : ‎ 1.32 pounds
Dimensions ‏ : ‎ 6.69 x 0.8 x 9.45 inches

In today’s rapidly evolving business landscape, companies are increasingly turning to analytics to gain valuable insights and make data-driven decisions. One key aspect of this is simulating business processes to better understand, predict, and optimize performance.

Descriptive analytics involves analyzing historical data to understand what has happened in the past. By simulating business processes, companies can gain a clearer picture of how different factors have influenced outcomes in the past, helping them to identify patterns and trends.

Predictive analytics takes this a step further, using statistical algorithms and machine learning techniques to forecast future outcomes. Simulating business processes allows companies to test different scenarios and predict how changes in variables will impact performance, enabling them to make more informed decisions and mitigate risks.

Prescriptive analytics goes beyond predicting outcomes to recommending actions to achieve desired outcomes. By simulating business processes, companies can test different strategies and optimize decision-making processes to achieve their goals more effectively.

Overall, simulating business processes for descriptive, predictive, and prescriptive analytics can provide companies with valuable insights and help them make more informed decisions to drive success in today’s competitive business environment.
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