The company claims that the tool will provide prescriptive analytics with “advanced mathematical, statistical and algorithmic models” for accurate capturing, processing, curating, and managing of data.
Shashank Dixit, Founder and CEO, Deskera, said, “We are very pleased to inform the launch of our new Big Data Analytics tool. We felt that there is a big gap in market requirements and available applications.”
“Our tool is affordable and it will empower small and medium enterprises and help them take the high growth trajectory by taking better business decisions.”
What is prescriptive analytics?
Prescriptive Analytics uses optimization and simulation algorithms to advice on possible outcomes and answer. It can be called as the combination of Descriptive Analytics, which use data aggregation and data mining techniques to provide insight into the past and answer and Predictive Analytics, which uses statistical models and forecasts techniques to understand the future and answer. While Descriptive Analytics gives insight into the past, Predictive Analytics gives an understanding of the the future; Prescriptive Analytics advises on the possible outcomes.
Prescriptive goes beyond descriptive and predictive analytics by recommending one or more possible courses of action. By predicting multiple futures, it allows enterprises to assess a number of possible outcomes based on the company’s actions. It also uses a variety of tools and techniques enterprise rules, algorithms, machine learning and computational modeling procedures and applies it against inputs from many different data sets, including historical and transactional data, real-time data feeds, and big data.
Big Data Analytics tool
According to Deskera, that also provides BAaaS (Business Applications as a Service), the new tool is equipped to conduct opinion mining by analyzing text, computational linguistics, and natural language processing for customers by using data from social media platforms.
Somesh Misra, Co-Founder and VP Operations, Deskera, said, “The tool would help if an enterprise aims to determine the sentiment of clients, channel partners, and end consumers, about a specific solution on its social media platform.”
“If a brand is planning to launch or market its product in a specific market, it can run the analytics tool to analyze reviews, ratings, recommendations and other forms of online expressions and provide results that would help in market strategy.”
The company claims that the tool is intuitive and “adapts and learns” and can “be applied to any business.”
Deskera primarily has been strong in Southeast Asia and targets SMEs. Lately, it has opened up sales offices in New Delhi and Mumbai to capture the SME market in India. For the record, it has nearly 150-member strong tech-team in Pune in India.
