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Prescriptive analytics uses historical data to provide specific recommendations for the future. It combines elements from both descriptive and predictive analytics to arrive at actual solutions. The analytics market is expected to reach $190 billion in 2023, while the business analytics market is projected to reach $60 billion by 2024. Newer data technologies such as the Internet of Things (IoT), real-time analytics, and sensor-driven business operations have recently bolstered the craft of advanced data analytics. The ultimate goal of prescriptive analytics is to find the best version of the truth and optimize the business process end to end.
