Businesses today certainly do not suffer from a lack of data.
Every day, they capture and consume massive amounts
of information that they use to make strategic and tactical
decisions. Yet organizations often lack two critical capabilities
when it comes to making the right decisions for the business:
the ability to make accurate predictions about the future,
and to then use those predicted insights in conjunction with
organizational goals to identify the best possible actions they
The combination of predictive analytics and decision
optimization provides organizations with the ability to
turn insight into action. Predictive analytics offers insights
into likely scenarios by analyzing trends, patterns and
relationships in data. Decision optimization prescribes
best-action recommendations given an organizationís
business goals and business dynamics, taking into account
any tradeoffs or consequences associated with those actions.