Top 5 Business KPIs to Optimize with Predictive Analytics
For business teams, there’s a rising mandate to drive results with data, and to use advanced tech stacks involving AI to do so. But when the most used structure for adding data science into an organization is a Center of Excellence (CoE), business teams are often left without the resources to meet this mandate. At Pecan, we’ve seen business needs center around a few tried-and-true use cases to drive maximum success with the shortest downtime. These are the business KPIs that simply can’t wait for historical analysis.
Some examples of those critical KPIs
• Predicting and preventing customer churn before it happens.””
• Forecasting demand to keep stores, fulfillment centers and manufacturing stocked at equilibrium.””
• Identifying customers likely to convert again, whether to cross-sell, upsell, or simply maximize lifetime value.
Too often business teams don’t know what results to expect—or demand—when it comes to their analytics initiatives. AI and data science can no longer operate in an ivory tower, taking months and showing results only some of the time. Leverage these predictive analytics use cases to bring AI into your business teams without having to hire a single data scientist.