Historical business analysis using Artificial Intelligence (AI) helps companies make better business decisions faster and more accurately.
Predictive Analysis (PA) allows companies to forecast with intelligence, giving them competitive advantage while simultaneously increasing sales and driving down costs.
THE POWER OF ARTIFICIAL INTELLIGENCE & PREDICTIVE ANALYSIS
- Proactively prompt sales people to focus on decreasing or increasing buying trends by customers. Think: proactive vs. reactive.
- Improve customer satisfaction by contacting customers at the right frequency, time and day you are most likely to connect to them.
- Feed staff and systems with cross sell suggestions in order to increase revenue.
- Categorize customers allowing you to focus efforts on the most likely group of customers to purchase select items.
- Target unique sales and marketing prior to a customer’s next order.
- Target market and convert the more desirable prospects into customers.
- Segment customers into those most valuable for targeted marketing and sales initiatives.
- Reduce unnecessary global item discounts or those initiated randomly by your sales person.
- Determine which discounts were most successful in increasing sales.
- Minimize impact of dead stock by spotting declining sales by item.
PRESCRIPTIVE ANALYTICS – THE FUTURE IS TODAY
Prescriptive analytics is another type of business analytics which helps companies find and choose the best course of action for a given situation. Descriptive analytics is for providing insight based on the past, predictive analytics delivers modeling and forcasting for what MIGHT happen – looking forward.
Prescriptive analytics helps companies determine and then choose the best solutions and outcomes. Prescriptive analysis is a continual and automatic process that results in improved and more accurate predictions and decision options.
Prescriptive analytics will help companies…
- Support, suggest, and improve decision options
- Take advantage of future opportunities
- Minimize or mitigage future risks
- Improve the accuracy of predictions
For more information please contact Elery LeBlanc, TurningPoint Systems, President. (978) 381-0131.