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Blog Tag: predictive analytics

Supply Chain Predictive Analytics: What Is It and Who’s Doing It?

Using this information, supply chain leaders can address supply chain challenges, reduce costs and at the same time improve service levels. Predictive analytics techniques allow organizations to identify patterns and trends hidden in their data to understand market trends, identify demand and establish appropriate pricing strategies.

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What is the Difference Between Predictive and Prescriptive Analytics?

Predictive and prescriptive analytics are two forward-looking tools used by business leaders which overcome these limitations. Using a combination of historical data (descriptive analytics), rules and a knowledge of the business, they more accurately predict the future, and, in the case of prescriptive analytics, guide leaders to the best overall

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