Tag : forecasting

How to apply data analytics to call centers

The call center is perceived as the nervous system of a company. It can warn of risks and potential threats, gather information about the environment in which the company operates and last but not least – it is the direct link to the most important asset that a company can have – its customers. Like any nervous system, it processes a huge amount of information. If such information is quantified, then we have big data. The application of big data analytics within call centers is the focus of this blog post.

Before we share our understanding of the application of data modeling and analytics for call & contact centers, we want to dispel a common misconception.

5 Benefits of Predictive Analytics Applied in Wholesale Business

Wholesale distribution business is generating a great amount of data which is including at least thousands of products, quantities, pricing, customers, and inventory, just name it. This simple fact makes them really suitable for data analytics modeling in order to solve specific business problems or to gain efficiency within already existing processes. In this blog post, we are highlighting just 5 of the potential benefits that a wholesale business is capable of extracting from modern days data analytics.

Predictive Maintenance and Data Analytics

Data analytics has a lot of useful applications and predictive maintenance is one of them. Its achievements are ensuring maximum availability of machines while guaranteeing the production quality. It is important, especially in some industries where the downtime is among the costliest risks of all potential threats. Data analytics is capable of creating machine-learning models trained by real-time data flow that predicts when, where and why a particular machine will fail.

6 key benefits of predictive data analytics

Data analytics has huge potential to predict and forecast future performance and this is already proven in big companies full of historical data. With the declining cost of computation, the mathematical wizardry of predictive data analytics is already at arm`s length for small and medium enterprises lacking the resources of the big players.

Forecasting Oscar-winning movies is possible

Just like forecasting future sales modern data analytics is able to forecast a lot of other things including the next Oscar-winning movie. Usually, predicting Oscar winners is a tradition among movie fans and media but a couple of tech companies claim that the winning movie might be pointed through data analytics.

This way they have predicted that The Revenant, starring Leonardo DiCaprio will be named as Best Picture at the 88th Academy Awards. And they were meticulously accurate!

5 benefits of predictive analytics in e-commerce

Visits, visitors, events, conversions, orders, time on site, page views, subscribers, average order value, etc. are just a fraction of the e-commerce KPIs and metrics that every online retailer should keep an eye on. All these pieces of data are just the perfect fit for predictive analytics and sales forecasting.

Its huge amount of data which might be modeled in order to project future demand and overall e-commerce performance. This is leading to crucial benefits pushing online retailers further in terms of effectiveness, profitability, and performance.