Decision Resources will work to understand your business problem and determine the best way to model the scenario in order to get the most accurate and valuable outcome.  There are three main model types that can be leveraged and each has a specific use case.

Predictive models

Predictive models explore historical performance to assess how likely an event or specific behavior is to occur in the future.  Predictive models are often used to evaluate the risk or chance of something happening, in order to influence a decision.

Descriptive models

Descriptive models identify and quantify relationships in data, often to classify elements into distinct groups.  Unlike predictive models that focus on predicting a single outcome, descriptive models identify relationships or similarities among elements and create logical groupings.

Decision models

Decision models simulate the interaction of variables involved in a decision process.  By modelling the known information, the decision points and the forecasted results, an optimal outcome can be derived. Decision models are often used in optimisation exercises where specific outcomes are either desired or unwanted.  They are often instrumental in developing business rules or design parameters that elicit a favourable outcome given a set of circumstances.