A large number of AI, Deep Learning and Machine Learning applications focus on predicting values or events. This is called Predictive Analytics. In addition, Trendskout’s AI software also offers Prescriptive Analytics. Prescriptive analytics take things one step further than predictions: they add an extra component aimed at suggesting concrete Next Best Actions to achieve your business objectives.
Take for example a business account manager, who can use Trendskout’s AI platform to receive suggestions for next best action for client follow-up, based on his or her personal targets. Prescriptive analytics work just like all other AI features on the Trendskout platform through the three-step AI-flow. Prescriptive Analytics through Trendskout’s AI software are carried out using three additional steps, on top of standard input data linking.
In addition to specific modules for manufacturers, the Trendskout AutoML platform also offers many possibilities for IT teams to quickly set up AI applications, Powered by our unique double AI low and easy to use UI that fully automates data transformations, algorithm selection and hypertuning.
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Prescriptive Analytics en Next Best Action is one of the available Trendskout AI Flow analysis-functions.
Just like supervised learning algorithms, prescriptive analytics needs training data to learn insights and connections and then process them into a model. With prescriptive analytics the data is analyzed in a fundamentally different way than with classification, which focuses on predicting a value or event. In the background, Trendskout uses different types of algorithms such as neural networks and gradient descent trees combined with propensity modeling. As an evaluation criterion during the Auto ML & Hypertuning step, historical data is used to evaluate the accuracy of the prescriptions.
After the training phase, and associated hypertuning, the winning model is used to generate the prescriptions. For example the following designated sales actions for an account manager.
