With the increase in digital transformation, social media engagement, and eCommerce transactions, analytics is becoming essential for every business. The AI prescriptive solution automates the multiple levels of analysis with a high number of attributes for better performance. It not only integrates business intelligence capabilities but also includes future prediction analysis with past and present analysis of the data. It shows prescriptive actions to allow all users in the organization to act with predictive outcomes.
Let us understand Prescriptive Analytics in brief:
There is no wonder that Prescriptive Analytics is pretty beneficial for the business. And it is the best way to seize the available opportunity in the industry. To review a large chunk of data- Machine learning, algorithms, and data mining tactics are required. Prescriptive analytics has become more accessible with advanced technologies to businesses.
For instance, by applying prescriptive analytics- we can forecast the shifts in prices, situations, and many other events. It also covers integrating the present situation and considering the values of each decision to know how the future would be influenced. Furthermore, it can cover the effects of a judgment based on several possible future situations. The usage of mathematics and computer science is used to figure out a variety of statistical methods.
A logical decision model can be created and recreated, which will impact the market in numerous ways. Machines identify automatic trends and associations in the business data; it eventually suggests decisions that can be implemented. Moreover, few machines have a feature where they can execute such actions mechanically.
With such actionable insights backed by data, you can provide a quick response to the customer's expectations, online alerts, and suggested actions.
Integral Solutions Asia is a predictive analytics company that provides solutions to help you predict outcomes and discover consumer behavior. We also offer a powerful intelligent data hub to consolidate multiple data sources to enable machine learning to take place with online alerts and prescribe actions. The AI Prescriptive Solution gives accurate insight through a proven methodology. Some of our Prescriptive Solutions include the following:
Cross Selling and Upselling Recommendations,
Marketing Campaign Optimization
Customer Lifetime Value
Gross Margin Analysis
Application Trends Analysis
Sales Performance Analysis
Quotation Hit Rate
Customer Hit Rate
Warranty Fraud Detection
Loyalty Program Fraud Detection
Inventory Demand Forecast
Natural Language Chatbot
Video Analytics - Facial Recognition
Find out more about how Integral Solutions Asia can help you apply and reap the benefits of prescriptive analytics in your business!