How to Use Prescriptive Analytics for Product Strategy

The Leap from Prediction to Prescription

Predictive analytics tells you what might happen. Prescriptive analytics tells you what to do about it. For product managers, this is a game-changer. Instead of just forecasting user churn, you can identify the specific interventions (e.g., a feature nudge, a special offer) most likely to retain a specific user.

Key Steps:

1. Define Objectives: What business outcome do you want to influence? (e.g., increase user engagement, reduce churn).
2. Gather Data: Collect data on user behaviors, product interactions, and historical outcomes.
3. Build a Model: Use machine learning to model the impact of different actions on your objective.
4. Deploy & Test: Integrate the model's recommendations into your product and run A/B tests to validate the impact.