Which modeling approach aims to solve problems by applying the best identified solutions?

The correct choice is prescriptive model because this approach focuses on recommending specific actions or solutions to achieve desired outcomes based on data analysis. Prescriptive modeling goes beyond simply providing insights or predictions by incorporating optimization algorithms and decision-making frameworks. These models evaluate various scenarios and identify the best strategies to address particular challenges.

In contrast, descriptive models are used to understand past phenomena by presenting data in a way that summarizes what has occurred, but they do not prescribe solutions. Stochastic models account for uncertainty and variability in processes but primarily focus on analyzing the probability and distribution of outcomes rather than directing decision-making. Inductive models work by inferring general principles from specific observations and are less about providing definitive solutions in a given context.

Thus, the prescriptive model is uniquely positioned to guide decision-making processes by highlighting the best solutions derived from an analysis of potential outcomes and constraints.