Published 03. Feb. 2017
Breakaway from the Pack with Predictive Analytics
IoT product development challenges existing R&D thinking and enables more impactful product development.
The companies in this study all face heavy competition within their segment. They either rely on a flawless state-of-the-art service to their customers or have a strong focus on cost leadership. These companies have embraced the power of analytics and made major steps in incorporating an analytical way of working in their daily business.
How to Gain a Competitive Edge?
To offer clients the opportunity to gain competitive advantage with their data, Inergy uses a powerful, yet easy-to-use full service analytical platform with machine learning technology. Crucial insights and predictions need a solid foundation. This solution can process and store data in any format or volume and boasts of international quality standards (managed BI service), which guarantee that decisions made are based on accurate data.
Once the data is collected and stored, Inergy’s data science team uses a variety of machine learning algorithms (R and Python based) and selects the best performing one in the specific client situation.
The outcomes are presented to the business user in a visually friendly way. No IT involvement or statistical knowledge required.
It all starts with a clear view on the potential business value. What will be the cost benefit if we implement these new insights? If we can select the right prospects to maximize our conversion rate, what extra revenue will be created?
Time Box and Data Scope
In our standardized approach we use a time box of maximum 6 weeks. We only focus on the data necessary to substantiate the business potential. This is a necessary step in getting the buy-in from the business owners. In the picture below the way-of-working is displayed.
The solution’s key tangible achievements:
- Predictability of expected sales conversion grew to 80%
- Process optimization and cost reduction (1% reducation counts for euro 1,5 mln).
- Profit increase by the elimination of non-value creating assortment articles.
- Improved factual decision-making.
- ROI for analytical solution <3 months.
Inergy Analytical Solutions will be attending the 600Minutes Executive Finance in the Netherlands on the 6th of September 2017 as a solution provider. Themes in discussion include:
- CEO, CFO, CIO – Reasoning the Technology Investments from Different Perspectives
- Digitization of Finance Processes – Automation and Robotics in Finance
- How “Brexit”and “Trump” May Impact The Netherlands and/or Your Organization
- The New Era of Finance
- Strategic Leadership – How to Take (Un)Calculated Risks?
They’ll also be at the 600Minutes Executive IT on the 4th of October 2017 . Themes in discussion include:
- Strategist, Catalyst, Technologist and Operator: Acquiring the visionary Status
- Unending Bèta: Embracing the Culture of Continuous Renewal
- The Obstacles of the Agile Business and Overcoming Them
- Accelerating through the Ultimate Customer Experience
- Blockchain, IoT & AI: Applications of Added Value
For all our upcoming events, visit the Event Calendar»
Symbio will be attending 600Minutes Innovation and Product Development in Finland on the 4th of April 2017
Chief Solution Executive, Symbio Finland