As I stated throughout this blog series, the location of the intelligence will be correlated to the use case and expected results. However, here are a couple of pointers to consider as it relates to the “where, when, and why” for descriptive, predictive, and prescriptive analytics.
Here are quick definitions of each:
- Descriptive analytics are used to monitor the state of assets and processes
- Predictive analytics use historical data sets to predict the state of assets and processes in the future
- Prescriptive analytics provide optimizing actions or recommendations to business processes based on predicted future states
The matrix below can be used for an analytics location decision. However, the use case will ultimately dictate the location to run analytics.