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Prescriptive analytics rely on models based on past actions to suggest recommended actions for new,...

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Accounting

Prescriptive analytics rely on models based on past actions to suggest recommended actions for new, similar situations. For example, auditors might review managers approval of new credit applications for inactive customers. If auditors know the variables and values that were common among past approvals and denials, they could compare the action recommended by the model with the response of the manager. How else might prescriptive analytics help auditors assess risk or test audit issues?

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