Types of Machine Learning Analytics Explained PPT
This PPT slide, part of the 24-slide Strategic Decision Making with Machine Learning (ML) PowerPoint presentation, presents an overview of machine learning's analytical capabilities, categorized into 3 distinct types: Descriptive, Predictive, and Prescriptive. Each type represents a progression in complexity and utility, aimed at providing insights that can drive strategic decision-making.
Descriptive analytics is positioned on the left. It focuses on summarizing historical data to explain what has occurred. This type is widely applicable across various industries, making it foundational for organizations seeking to understand past performance. The visual representation includes 3 elements labeled X, Y, and Z, which likely signify specific metrics or data points relevant to this analysis.
Moving to the center, Predictive analytics anticipates future outcomes based on historical data patterns. This type is inherently probabilistic, suggesting that it deals with uncertainty and variability in predictions. Organizations that leverage predictive analytics can gain insights into potential future scenarios, which is crucial for proactive decision-making.
On the right, Prescriptive analytics offers recommendations on actions to take in order to achieve desired outcomes. This type is the most complex and is often utilized by leading data-driven companies. The slide indicates that prescriptive analytics not only suggests actions, but also provides a roadmap for achieving specific goals, making it a powerful tool for strategic planning.
The overall structure of the slide effectively conveys the increasing complexity of analytics capabilities, guiding the viewer from understanding past events to making informed decisions about the future. This progression highlights the value of integrating machine learning into business strategies, emphasizing the potential for enhanced operational effectiveness and informed decision-making.
This slide is part of the Strategic Decision Making with Machine Learning (ML) PowerPoint presentation.
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Decision Making Machine Learning Strategic Planning Analytics
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