The Internet of Things (IoT) networks, embedded systems and devices are generating real-time data that is ideal for further optimizing supply chain networks and increasing demand forecast predictive As IoT platforms, systems, applications and sensors permeate value chains of businesses globally, there is an exponential increase of data generated. The availability and intrinsic value of these large-scale datasets are an impetus further driving predictive analytics.
An enterprise finds really difficult to make decisions daily, which is dependent upon exponential data growth with unstructured data being over 80%. Demand forecasts, CRM and ERP transaction data, transportation costs, barcode and inventory management data, historical pricing, service and support costs and accounting standard costing are just a few of the many sources of structured data enterprises make decisions with today. The exponential growth of unstructured data that includes social media, e-mail records, call logs, customer service and support records, Internet of Things sensing data, competitor and partner pricing and supply chain tracking data frequently has predictive patterns enterprises are completely missing out on today. Enterprises looking to become competitive leaders are going after the insights in these unstructured data sources and turning them into a competitive advantage with predictive analytics.
Generating massive data sets through synthetic means including extrapolation and projection of existing historical data to create realistic simulated data. From weather forecasting to optimizing a supply chain network using advanced simulation techniques that generate terabytes of data, the ability to fine-tune forecasts and attain greater optimizing is also driving machine learning adoption. Simulated data sets of product launch and selling strategies is a nascent application today and one that shows promise in developing propensity models that predict purchase levels.
SpadeWorx is working on cutting edge technologies and platform to enable companies gain competitive advantage using predictive analysis.
SpadeWorx has acquired competency in commercial as well as open source tools such as R, MATLAB,SPSS and TIBCO to undertake various statistical and data modelling needed to make a decision tree.
Industries where in Predictive Analytics is of immense help are
- Predictive maintenance or
- Warranty Reserve Estimation
- Demand Forecasting
- Process Optimization
- Predictive Inventory Planning
- Upsell and cross channel
- Market Segmentation and
- Customer ROI and Lifetime
Healthcare and Life Sciences
- Alerts and Diagnostics from real time patients data
- Disease identification and
- Proactive Health
- Health care provider
Travel and Hospitality
- Aircraft scheduling
- Dynamic Pricing
- Social Media- Customer
feedback and interaction
- Customer complaint
- Traffic Pattern and
Please connect with our consultants to learn more as how we can help you with in areas such as CRM,Decision Support System,Direct Marketing and Cross Sell, Customer Retention etc.
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