2. Up-coming article this quarter: Why Prescriptive Analytics Is the Future of Big Data. Author: Mark van Rijmenam – University of Technology, Sydney; Volume 7, Issue 3.
The creation, storage and usage of data in high velocity, volume, variety and variability is called big data; a term only used since 2001 (Laney 2001). Organisations and consumers already generate large amounts of data, which are forecast to grow exponentially in the future (Sing and Rana 2013). Big Data offers insights via business analytics tools such as descriptive, predictive or prescriptive analytics (Vahn, 2014), whereby prescriptive analytics can transform organisations and can be seen as the future of big data. In this paper, I investigate what prescriptive analytics is and how organisations can benefit from it