We offer predictive analytics applications and services to help our customers foresee business events by applying data mining, statistical and machine learning techniques on their historical data. This helps improve their bottom line and competitive advantage by optimizing marketing campaigns, adopting dynamic pricing strategies, preventing loss of customers, understanding product returns and reducing business risk, to name a few benefits. We provide affordable rapid analysis, prototyping and application development using state-of-the-art data science platforms such as R on cloud computing platforms such as Amazon AWS.
Leveraging predictive analytics has become both necessary and affordable due to:
- Emergence of IoT devices embedded in automobiles, home appliances and industrial equipment
- Dynamically changing customer preferences and competitor offerings
- Super abundance of data available from customer interactions through various digital platforms
- Highly responsive, reliable and inexpensive data processing capabilities through cloud computing
- Rapid prototyping capabilities of new business methods and algorithms
- User friendly software
Minimize Loss from Product Returns
Explosive growths in E-commerce has also resulted in skyrocketing product return rates, much of which is preventable. Understanding product return patterns based on customer profiles and buying behaviors is the basis for tailoring personalized offers for customers that can turn product returns into great customer satisfaction and business profitability for our clients.
Enhance Profitability from Dynamic Pricing
Producers and retailers must dynamically price their products and services based on market conditions. This improves their ability to stay competitive and enhance profitability. For example, for a sports goods retailer, early detection of trends in consumer preference for certain styles of products helps the retailer allocate more of their procurement and marketing efforts to maximize their profits.
Improve Customer Retention
Business growth for retailers and membership based organizations is dependent on customer retention. Customer segmentation and predictive analytics offer insights into customer attrition behavior by easily analyzing vast amounts of data made possible today’s by data science platforms.