Business Analytics Assignment Guide On Prescriptive Analytics for Decision Making.pdf

Tutor Help Desk provide comprehensive support for business analytics assignment.Our service include accurate coding ,insigntful result analysis and expert guidance for your perfect understanding. Enhance your academic performance and master data-driven decision-making with our professional assistance.

1. Business Analytics Assignment Guide On Prescriptive Analytics
for Decision Making
www.tutorhelpdesk.com

2. What is Prescriptive
analytics?
Prescriptive analytics is a branch of data analytics focused on
providing actionable recommendations based on data. It goes beyond
descriptive analytics (which tells you what happened) and predictive
analytics (which forecasts what might happen) by suggesting specific
actions to achieve desired outcomes.
www.tutorhelpdesk.com

3. Key Components of Prescriptive Analytics
Data Collection: Gathering relevant historical and real-time data from various sources.
Data Analysis: Using statistical and machine learning models to analyze the data and identify
patterns and trends.
Optimization Algorithms: Employing algorithms that can process the data to generate
optimal decisions. These may include linear programming, genetic algorithms, and simulation
models.
Simulation: Running simulations to evaluate the outcomes of different scenarios and
strategies.
Recommendation Generation: Producing specific, actionable recommendations based on
the analysis and optimization results.
www.tutorhelpdesk.com

4. Real-World Examples: How Companies
Use Prescriptive Analytics
Netflix
Use: Content recommendations.
Benefit: Increases user engagement and satisfaction.
Coca-Cola
Use: Personalized marketing.
Benefit: Enhances customer loyalty and boosts sales.
Amazon
Use: Inventory management.
Benefit: Ensures product availability and competitive pricing.
Airlines
Use: Dynamic pricing.
Benefit: Maximizes revenue and occupancy rates.
Healthcare Providers
Use: Personalized treatment plans.
Benefit: Improves treatment effectiveness and resource allocation.
www.tutorhelpdesk.com

5. Practical Example: Workforce Scheduling
Optimization
Step 1: Data Collection: Collect data on historical foot traffic
patterns, average transaction times, and employee availability.
# Sample data for shifts and employee availability
shifts <-c(“Morning”, “Afternoon”, “Evening”)
availability <-c(8, 6, 5) # Number of available employees for each shift
demand <-c(10, 15, 12) # Estimated customer demand for each shift
www.tutorhelpdesk.com

6. Step 2: Modelling: Define the objective function and constraints for the linear
programming model.
# Coefficients of the objective function (total labor cost)
f.obj <-c(10, 15, 12) # Assuming $10/hr labor cost
# Constraints matrix (demand must be met and employee availability)
f.con <-matrix(c(1, 0, 0,
0, 1, 0,
0, 0, 1,
-1, 0, 0,
0, -1, 0,
0, 0, -1), nrow=6, byrow=TRUE)
# Right-hand side of the constraints (customer demand and employee availability)
f.rhs <-c(10, 15, 12, 8, 6, 5)
# Directions of the constraints (greater than or equal to for demand and availability)
f.dir <-c(“>=”, “>=”, “>=”, “>=”, “>=”, “>=”)
# Solving the linear programming model
solution <-lp(“min”, f.obj, f.con, f.dir, f.rhs)
# Display the optimal workforce scheduling
solution$solution
names(solution$solution) <-shifts
print(solution$solution)
www.tutorhelpdesk.com

7. Business Analytics Assignment
Help Services
Learning advance topics like prescriptive analysis and solving
complex questions based on it can be overwhelming
sometimes. Our website provides a comprehensivebusiness
analytics assignment help, specifically designed for business
statistics and MBA students in the USA and the UK. Whether
you need assistance with tools like R, Python, SAS, JMP,
Minitab, SPSS, or Excel, our expert guidance is here to help
you excel.
www.tutorhelpdesk.com

8. Why to opt for our business
analytics homework help?
What We Offer:
Comprehensive Reports: Includes code, plots, outputs, and thorough
analyses tailored to your needs.
Accurate Coding: Well-documented, optimized, and error-free code with
debugging help.
Result Analysis: Clear interpretation and effective presentation of your
findings.
Expert Guidance:Support from seasoned professionals in business
analytics.
Time-Saving:We handle complex analysis so you can focus on learning.
Improved Grades: High-quality assistance to boost your academic
performance.
www.tutorhelpdesk.com

9. Conclusion
•Don’t let prescriptive analytics intimidate you.
•Contact us today to harness the power of data-driven
decision-making.
www.tutorhelpdesk.com

10. Thank You
www.tutorhelpdesk.com
[email protected]
www.tutorhelpdesk.com