BDA.22: Advanced Prescriptive Analytics: A General Framework for Integrated Data Management and Prescriptive Analytics

Business analytics is a type of data analytics that focuses on business processes and planning. Three main steps are comprised under this name: descriptive, predictive and prescriptive analytics.

Business analytics is one of the most important drives of improvement and success of any business process, used by enterprises to obtain data-driven decision support systems to help the planning of their strategies. While descriptive and prescriptive analytics allow to analyse past and future information respectively, they do not provide any active support for decision making. Here prescriptive analytics fills the gap between the data and decision, as it allows to make use of the two previous steps to deliver solutions for optimised planning. However, the increasing complexity of the scenarios in which business analytics is applied, together with large number of technologies required to carry out prescriptive analytics and the lack of a unified architecture arise several problems to the users, therefore making the application of prescriptive analytics technologies difficult and cumbersome.

Main goal of the project will be in designing a framework that will allow prescriptive analytics to be easily accessible and integrated within a database management system. The focus will be in optimization problem solving and decision making, studying how the different possibilities can be joined when the focus is prescriptive analytics. Moreover, the goal is to identify the main steps that are required for the prescriptive analytics process, trying to isolate them and find how these can be generalized in order to apply well defined techniques and algorithms.

Main advisor at AAU
Co-advisor at TUD