Humans solve a problem by asking a series of nested questions to themselves. When a problem arises, asking Why, What, and How more and more number of times until all our questions are answered helps us solve a problem. Decision Science is no different. The entire stack of decision science, that is, Descriptive + Inquisitive + Predictive + Prescriptive, is designed on the basis of the different kinds of questions we ask. The solutions we develop get more and more powerful with the depth of the questions we frame Initially, we surface the problem space by understanding 'what' has happened, then we get in deeper by understanding how it happened. The solution to the problem becomes even more powerful when you have an answer to the question when, and this is when we touch base with Predictive Analytics. The ability to look into the future and then solve a problem is way more powerful and effective than any other alternative.

In this chapter...