THE IMPACT OF PRESCRIPTIVE ANALYTICS ON BUSINESS OUTCOMES
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- Recommended for : Student Researchers
- NGN 5000
Abstract: THE IMPACT OF PRESCRIPTIVE ANALYTICS ON BUSINESS OUTCOMES
This study investigates the impact of prescriptive analytics on enhancing decision-making processes and achieving favorable business outcomes within organizations. The objectives include examining how prescriptive analytics models and algorithms enable proactive decision-making, optimize strategic planning, and mitigate risks. A survey research design is adopted to collect quantitative data from 300 respondents using the Taro Yamane formula to ensure a representative sample size. The case study focuses on a technology firm in Enugu, Nigeria, known for its innovative use of prescriptive analytics to drive operational excellence. The reliability coefficient score, assessed through internal consistency measures, is 0.86, indicating strong reliability of the research findings. Findings suggest that prescriptive analytics empower organizations to make informed decisions based on data-driven recommendations, improve resource allocation, and enhance competitive positioning. The study recommends that businesses invest in advanced analytics capabilities, integrate prescriptive analytics into decision support systems, and foster collaboration between data scientists and business stakeholders to maximize the benefits of prescriptive analytics in achieving sustainable business growth and innovation.
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