Prescriptive Analytics for Big Data

Prescriptive analytics is considered as the next frontier in the area of business analytics. It provides organizations with adaptive, automated, and time-dependent courses of actions to take advantage of likely business opportunities. Given enterprises' objectives, prescriptive analytics assists them maximize their business values and at the same time mitigates their likely risks by recommending optimal sequences of actions. In this work, a federated prescriptive analytics framework comprising descriptive, predictive and prescriptive components is proposed. The framework also links the extracted insight from the data to their pertinent generated actions. Finally, a few indicative use cases are presented to indicate the necessity of this new analytics paradigm.