Machine learning and predictive analytics solutions
Predictive analytics – Todays Businesses collect large amounts of real-time customer data and predictive analytics uses this large set of data, combined with customer insight, to predict future events. Predictive analytics enable organizations to variety of stored and real-time big data to move from a past view to a forward-looking perspective for the customer.
A typical example of Predictive analytics would be stores that use data from loyalty programs can analyze past buying behavior to predict the coupons or promotions a customer is most to participate in or buy in the future. Predictive analytics could also be applied to customer website browsing behaviors to deliver a personalized website experience for the customer.
Every decision an organization makes sales, marketing, operational or financial could impact organizations growth and if the decision are not effecting then it’s a missed opportunity to gain competitive market advantage. Each day organization is faced with risk as mention below.
- Risk of customer defecting.
- Customer not responding to expensive marketing campaign.
- Consuming a retention discount event if its not a flight risk customer.
- Missed potential lead.
- Committing Fraud.
- Bad debtor customer.
- Many more domain specific example similar to above.
As per the survey 90% of respondents gained a positive ROI from their most successful deployment of predictive analytics.
Four reasons to implement Predictive Analytics –
- Satisfy today’s higher customer expectation by predicting their needs before they do.
- Increase sales and retain customers
- Powerful and unique competitive advantage
- Fraud Management
At Technosip we are helping our clients develop solutions that will help them stay ahead of these challenges.
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