I think it’s nothing really new but at least it may help create a buzz to further push analytics into the right direction: it must be at the core of intelligent action in companies and organizations at large! We used to call it “actionable intelligence” a few years ago; it’s the same idea although I think this term speaks much more for itself as “prescriptive analytics” does.
And just picking up your phrase above: “Once you get predictions, you need to prescribe actions to leverage these predictions.” You should not even be working on predictions without knowing what to do with them later. This is how Data Mining works in my sense: it always has a business mission to accomplish, it’s not a pure R&D function. The prescription comes embedded….
Will share, it so deserves too!!!
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The matter is just awesome and very informative for the title and thanks for sharing this site…
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