Prescriptive Analytics: A Survey of Approaches and Methods

Lepenioti, Katerina; Bousdekis, Alexandros; Apostolou, Dimitris; Mentzas, Gregoris

doi:10.1007/978-3-030-04849-5_39

Cited by 15 publications

(5 citation statements)

References 48 publications

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“…Previous studies have addressed the application areas of an ABI system [12][13][14][15][16], explaining the individual type of algorithms and their applications in specific clinical processes. Upon meticulous analysis of articles related to these themes, it is noteworthy that none of them explores the definition of autonomy levels in ABI systems or their development process.…”

Section: Plos Onementioning

confidence: 99%

“…Prescriptive analytics combines forecast with optimization techniques to predict future outcomes and recommend actions to achieve a desired result. This analytical approach is applicable across diverse contexts, including supply chain management, Healthcare, and finance, where it can generate actionable recommendations for decision-makers [14].…”

Section: Adaptive Business Intelligencementioning

confidence: 99%

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Exploring trends and autonomy levels of adaptive business intelligence in healthcare: A systematic review

Lopes,

Faria,

Santos

2024

PLoS ONE

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Objective In order to comprehensively understand the characteristics of Adaptive Business Intelligence (ABI) in Healthcare, this study is structured to provide insights into the common features and evolving patterns within this domain. Applying the Sheridan’s Classification as a framework, we aim to assess the degree of autonomy exhibited by various ABI components. Together, these objectives will contribute to a deeper understanding of ABI implementation and its implications within the Healthcare context. Methods A comprehensive search of academic databases was conducted to identify relevant studies, selecting AIS e-library (AISel), Decision Support Systems Journal (DSSJ), Nature, The Lancet Digital Health (TLDH), PubMed, Expert Systems with Application (ESWA) and npj Digital Medicine as information sources. Studies from 2006 to 2022 were included based on predefined eligibility criteria. PRISMA statements were used to report this study. Results The outcomes showed that ABI systems present distinct levels of development, autonomy and practical deployment. The high levels of autonomy were essentially associated with predictive components. However, the possibility of completely autonomous decisions by these systems is totally excluded. Lower levels of autonomy are also observed, particularly in connection with prescriptive components, granting users responsibility in the generation of decisions. Conclusion The study presented emphasizes the vital connection between desired outcomes and the inherent autonomy of these solutions, highlighting the critical need for additional research on the consequences of ABI systems and their constituent elements. Organizations should deploy these systems in a way consistent with their objectives and values, while also being mindful of potential adverse effects. Providing valuable insights for researchers, practitioners, and policymakers aiming to comprehend the diverse levels of ABI systems implementation, it contributes to well-informed decision-making in this dynamic field.

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Section: Plos Onementioning

confidence: 99%

Section: Adaptive Business Intelligencementioning

confidence: 99%

Exploring trends and autonomy levels of adaptive business intelligence in healthcare: A systematic review

Lopes,

Faria,

Santos

2024

PLoS ONE

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“…The conclusions from the data analytics would help with value-added decision-making. Analytics helps to identify meaningful patterns and insights and distribute the results to proper stakeholders (Lepenioti et al, 2019).…”

Section: Prior Literaturementioning

confidence: 99%

Data Analytics for HR Students: Using RapidMiner to Develop Systems Thinking Skills

2023

brcacadjb

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In this study, we investigated the value of the data mining tool RapidMiner for teaching data analytics to human resource (HR) students. In a way, the idea for another analysis tool contradicts the demand for demonstrable spreadsheet skills in business professions. Fluency in MS Excel is seen as a necessary skill for data analysis in business; however, more advanced analysis like predictive analytics (i.e., predicting employee churn, salary levels, survey text analysis, etc.) leaves a gap in MS Excel's skill set. Introducing

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“…Transparency: Prescriptive tools allow the use of several methods towards finding solutions, which makes its application and process complex [37]. Many organizations have complex processes because of continuous changes to the algorithms of the predictive analytics tools [74]. The tools can only provide transparency to complex business problems due to the database constraints caused by the number of dimensions the database can record accurately [60].…”

Section: Prescriptive Analyticsmentioning

confidence: 99%

“…The prescriptive tools are unable to automatically implement solutions or recommendations without the intervention of human effort [74]. Humans are expected to employ BDA tools in implementing solutions, which they can skillfully interpret the prescribed solutions, otherwise, the recommendations become void or useless [61].…”

Section: Prescriptive Analyticsmentioning

confidence: 99%

A Guide for selecting big data analytics tools in an organisation

Nyikana¹,

Iyamu²

2022

Proceedings of the Annual Hawaii International Conference on System Sciences

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Selection of appropriate big data analytics (BDA) tools (software) for business purposes is increasingly challenging, which sometimes lead to incompatibility with existing technologies. This becomes prohibitive in attempts to execute some functions or activities in an environment. The objective of this study was to propose a model, which can be used to guide the selection of BDA in an organization. The interpretivist approach was employed. Qualitative data was collected and analyzed using the hermeneutics approach. The analysis focused on examining and gaining better understanding of the strengths and weaknesses of the most common BDA tools. The technical and nontechnical factors that influence the selection of BDA were identified. Based on which a solution is proposed in the form of a model. The model is intended to guide selection of most appropriate BDA tools in an organization. The model is intended to increase BDA usefulness towards improving organization's competitiveness.

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Prescriptive Analytics: A Survey of Approaches and Methods

Cited by 15 publications

References 48 publications

Exploring trends and autonomy levels of adaptive business intelligence in healthcare: A systematic review

Exploring trends and autonomy levels of adaptive business intelligence in healthcare: A systematic review

Data Analytics for HR Students: Using RapidMiner to Develop Systems Thinking Skills

A Guide for selecting big data analytics tools in an organisation

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