Data is one of the main assets of companies, but if it is not treated, it will never be information. It’s just bits and bytes stored. And that’s where the power of predictive analytics comes in.
The number is scary. In 2021, the world created 2.5 trillion bytes of data daily. That is, it collected information that can then be, in a more or less structured way, transformed into information and, from the outset, used for the most diverse purposes. Namely to help companies decision support or better understand the customer or consumer.
The problem is, says Forrester, between 60% and 73% of the data collected by a company is not used. Or at least they are not used correctly when, over the last decade, the technology to collect and analyze this data has continued to evolve in such a way that companies can achieve a new level of insight through advanced predictive analytics.
Thanks to advances in artificial intelligence (AI) and analytics software, companies can turn data collected in recent years and the present into insights for the future. From the sales force, to production, passing through finance or marketing, all departments can improve by having evidence-based information available to support decision-making.
In this ever-changing landscape, predictive analytics can allow a business to not only succeed, but thrive.
Predictive analytics gains greater relevance if we take into account that this year, it is predicted that 70% of the world’s GDP will be digitalized and, by 2025, more than 200 zettabytes of data will be stored in the cloud worldwide.
In this context, partners such as PSE, a specialist in data science and advanced research, stand out in the business landscape, dedicating their day-to-day activities to providing relevant data and developing tailored analytical solutions, transforming data into knowledge.
One of these solutions is the PSE Predictive Mobility Sales, whose main objectives are to help sales forces to have real-time information, facilitate navigation to hotspots and allow the sales force to collect critical information for the business.
And there are several applications, such as allocating local sales forces with the highest potential for your product or identifying potential locations for placing new buildings or equipment. The PSE Predictive Mobility Sales also helps to decide which are the best places to sell solutions and products, optimize information, resources and processes and typify solutions and products. “To support the PSE Predictive Mobility Sales Predictive Analysis solution, a data model was developed for user management, receiving business information from companies and providing personalized analytical results”, explains the company.
This application, which allows sales teams to understand, through advanced analytical models, where they should develop their efforts to increase their sales performance, is the culmination of the expansion of knowledge already acquired which, through machine learning techniques and use advanced analysis software (namely IBM SPSS), predictively identifies hotspots with a high potential market in all territories defined by each company. In addition to this update, it also differentiates these locations by weekdays, weekends, holidays and, in some specific cases, time periods.
This project also includes a continuous learning system, through the feedback obtained. For the development of this process, companies must periodically provide, and whenever applicable, relevant information, namely the history of commercial action on the ground, sales, databases with the organic structure to support commercial action and respective allocation to territories , as well as other information that companies consider relevant to their development. In other words, turning data into vital information for the company’s business.