Hindsight, Foresight, Insight
Descriptive analytics and diagnostic analytics provide revenue hindsight by evaluating historical performance data to identify what happened, when it happened and why it happened.
Predictive analytics provide revenue foresight by delivering forecasts that help you anticipate what’s going to happen next.
Prescriptive analytics go even one step further and leverage data and forward-looking intelligence data to produce automated decisions. Common examples of prescriptive analytics are advanced demand forecasts at detailed levels and automated pricing decisions.