Give Your Business Users Assisted Predictive Analytics!

Assisted Predictive Modeling Enables Business Users to Predict Results with Easy-to-Use Tools!

Gartner predicted that, ‘75% of organizations will have deployed multiple data hubs to drive mission-critical data and analytics sharing and governance.’

With all of this business data, how can your organization a) help your team gather and use data to make fact-based decisions, and b) use that data to predict which products and services your customers will need in the future, how your customer buying behavior is shifting, how your competition will respond to the market, when and how to sell your products, which marketing campaigns will work in the future, and how and when to recruit new resources and open new locations.

‘Giving your team access to sophisticated, complex analytical techniques in an intuitive environment, allows them to leverage predictive analytics without a data scientist or analytical background.’

A misstep in any of these areas can create risk, damage your business reputation, or put you years behind your competition. That’s why your business needs predictive analytics. And, not just any predictive analytics! If you want to democratize data among your team members and provide easy-to-use tools to encourage user adoption and enable data-driven decisions, you must choose wisely.

Leverage Predictive Analytics for Every Business User

Assisted predictive modeling can take the guesswork out of analytics, by helping users to choose the right techniques to analyze the type and volume of data they use to analyze. These tools allow the organization to apply predictive analytics to any use case using forecasting, regression, clustering and other methods to analyze an infinite number of use cases including customer churn, and planning for and target customers for acquisition, identify cross-sales opportunities, optimize pricing and promotional targets and analyze and predict customer preferences and buying behaviors.

Prescriptive analytics for regression models combines predictive modeling and optimization techniques to produce actionable recommendations for decision-making. While descriptive and predictive analytics use past events to predict future outcomes, prescriptive analytics goes beyond this process to recommend optimal actions that will help the business to achieve specific goals. By merging prediction with prescription, the enterprise can proactively identify challenges and opportunities, and drive more effective and strategic outcomes.

These are just some of the tools your business should consider to build a solid foundation for predicting outcomes using historical and forward-looking data analytical techniques.

Giving your team access to sophisticated, complex analytical techniques in an intuitive environment, allows them to leverage predictive analytics without a data scientist or analytical background. Your users can access:

  • Time Series Forecasting
  • Regression Techniques
  • Classification
  • Association
  • Correlation
  • Clustering
  • Hypothesis Testing
  • Descriptive Statistics

‘Assisted predictive modeling can take the guesswork out of analytics, by helping users to choose the right techniques to analyze the type and volume of data they use to analyze.’

With the right predictive analytics solution, your business can also support data scientists, IT and business analysts with tools that allow for R script integration, so these users can perform complex statistical and predictive analysis and reporting to support strategic organizational needs.

Smarten Assisted Predictive Modeling will support your team with tools that are intuitive and easy to use and will encourage user adoption.  Leverage the essential components of Augmented Analytics and improve decision-making and outcomes.

Original Post : Leverage Predictive Analytics for Every Business User!

Should My Business Invest in Generative AI?

Can Generative AI (GenAI) Help My Business?

Whether you are in the business of technology, or an average citizen, there is no doubt you know about Artificial Intelligence (AI) and you have probably heard or read about the advances made in Generative AI (GenAI).

According to Gartner business surveys, GenAI has become one of the most adopted and deployed technologies, and it is either in use in many industries and businesses, or it is in the works.

As a senior manager in a software business, or a corporate CIO, a software engineer or a consumer, you are probably thinking about how you can use GenAI to make your product better, or your life simpler. If you ARE in the business of technology, you may already have started a GenAI project.

But, it may be wise to exercise some caution. You know the old adage, ‘just because you can, doesn’t mean you should?’ That certainly applies to GenAI.

Yes, this technology has advanced enough to offer some value in some instances, but it should not be widely adopted without understanding its current limitations. Don’t let the promise of GenAI blind you to the fact that it is not yet a mature technology and that it is not suitable for all applications.

Can Generative AI (GenAI) Help My Business?

Before you start your project, you should consider the following factors:

  • GenAI alone is not the magic potion many think it is. In fact, the best use of GenAI is as a component of a holistic landscape of technologies, which may or may not include other types of artificial intelligence (AI) techniques.
  • Business use cases are a wise addition to your strategic discussion. How and where will your business use GenAI and does the addition of this technology add value or provide competitive, productivity or collaborative improvements? Implementing GenAI just because it is cutting edge, does not add value to your organization.
  • The cost of implementing these new technologies must be considered. That consideration should include the estimated useful life of the investment and its return to the organization.
  • For some tasks like content summarization for presentations or reports, or routine content creation, standard product descriptions, etc., GenAI may be a welcome addition, and will provide productivity improvement for your team.
  • When considering the use of GenAI, it is important to understand how and when your team will use the capabilities and set reasonable expectations for its use. If and when you decide to implement GenAI, it is equally important to train and inform your team and help them understand what they can achieve with this technology. You must also ensure that the team understands what GenAI will NOT do for them. There is a lot of hype out there, and team members may think that GenAI is going to either a) replace their position, or b) give them back 50% of their time for other tasks. It is likely that neither of those scenarios will be true, so be sure your team understands the transition, what they can expect, and what you will expect of them.
  • Involving experienced team members in the AI process is imperative. You can’t ‘set and forget’ your tasks without risking incorrect output or issues that will affect customer satisfaction or put your business at risk. Consider how and when you will monitor and manage output and what human intervention is required for the use you have imagined in your use cases.
  • While we are on the subject of expectations, let’s remember that, while the future of GenAI is promising, the current state technology is not a boiler plate. It is not a one-size-fits-all solution that can be hurriedly put into place, nor will it solve all your problems.

There has been much marketing hype about GenAI, but at the end of the day, if your business is going to invest time and money in this technology, it must establish a reasonable strategic initiative with measurable metrics and risk assessment and management reviews.

Before your business tackles a GenAI investment project, and all the technology, cultural and management changes that it requires, ask yourself a) what problems does my business have and what are our most important priorities, b) Can GenAI realistically help our business solve or reduce these problems and c) how can I measure and manage this new approach to prove my theories?

As we have outlined in this article, it is important to recognize the limitations of the current Generative AI (GenAI) solutions, and develop a thorough and complete understanding of your prospective business use before making a decision to invest in and implement this type of solution in your organization. Contact Us to find out how we can help you plan and achieve your goals. Artificial Intelligence (AI) in AnalyticsArtificial Intelligence DevelopmentWhite Paper: What is AI and How Can It Help My Business? Explore our articles on AI: Generative AI, the Benefits and ApplicationsIdeas to Get You Started with Generative AIUnderstand AI, OpenAI and Chat GPT.

Assisted Predictive Modeling is Your Secret Weapon!

Predictive Analytics That is Easy Enough for Any Business User!

Predictive analytics may seem too complex for business users but with advanced technology like machine learning and features like assisted predictive modeling users can dive into the process without the skills of an IT professional or a data scientist. Assisted predictive modeling frees the user by providing system recommendations that will suggest the right analytical technique and achieve the best fit for what the user wants to do, ensuring that they use the most appropriate algorithm for the data they wish to analyze.

Case Study : Smarten Integrates R Scripting for Gujarat Environment Management Institute (GEMI) for Predictive Analysis

Case Study - smarten-integrates-r-scripting-gujarat-environment-management-institute-gemi-predictive-analysis

Gujarat Environment Management Institute (GEMI) is an ISO 9001:2008, ISO 14001:2004, OHSAS 18001:2007 certified Autonomous Institute under the auspices of the Gujarat Forest Department agency. The GEMI charter supports the “Think Global, Act Local” concept and is integrally involved in the pursuit of environmental protection for India. The Client team is engaged in assuring sustainable development, and provides research to measure and gauge the impact of various human, economic and industrial activities on the environment. GEMI is focused on developing standards for prevention of negative environmental impacts and performs lab testing on air, water, wastewater, microbiology and soil.

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Your Team Can Use Assisted Predictive Modeling!

Predictive Analytics Is Within the Reach of Your Business Users!

Today, business planning is harder than ever. No one knows what is coming next and considering the changes in customer needs and expectations is just one of the issues. How about competition? What about new technology and how it will affect your products and services? What about the need for skills and new training for your team members and candidates? How about access to capital and investors?

Plan Precisely with Predictive Analytics!

Is Predictive Analytics Real or Does it Promise More Than it Delivers?

Why would anyone want or need to use predictive analytics? What good is forecasting anyway? Doesn’t it always end up being wrong? Well, no! That’s why wise businesses use these techniques to plan and forecast and to understand how a change they are considering might impact their business success. Nearly every organization today is using analytics to improve productivity, competitive positioning, market presence, financial investment strategies, price point planning, risk mitigation and many other business factors.