Prescriptive Analytics to Understand the Future Demands

NURAY GOKMEN KAHVECI | DIGITAL MARKETING MANAGER

Prescriptive analytics can tell the organizations how to overcome future bottlenecks predicted by Predictive analytics techniques. Gartner reports that only 10% of companies are currently taking advantage of prescriptive analytics. However, they project this number will increase more than three-fold within the next four years.

The fundamental value of supply chain management is to control the manufacture, storage, transportation and sale of goods-services to meet customer demand. In most cases the goal is to have what the customer wants, when the customer wants it, and keep nothing else. Predictive analytics is the practice of utilizing a large amount of data to gain insight into possible future scenarios in order to manipulate a positive outcome.

Here are some questions that the prescriptive analytics can solve :

  • What kind of an offer should we make to each customer?
  • What should be my shipment strategy for each retail location?
  • Which product should I launch and when?
  • Where should I build a new factory?
  • Should I build a new factory?

Check out our Prescriptive Inventory Management solution.

 

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The Biggest AI Opportunity for SMBs: Chatbots

NURAY GOKMEN KAHVECI | DIGITAL MARKETING MANAGER

AI(Artificial intelligence) will have the biggest impact on society, individual consumers, and businesses in the next several years. The reason AI will be so impactful is that it promises one thing we just can’t get enough of these days: convenience.

As a small business or startup, it is unlikely that you will invest on an expert to “do AI”. It is more likely to notive AI capabilities show up in the software you are using. Existing AI technology for businesses is already remarkable, but it’s not realistic for any business to invest in all of these AI tools at once. Here is the biggest AI opportunity for your SMB business: Chatbots.

Artificial intelligence has transformed chatbots more human like than ever before, and they are becoming extensive. AI talking chatbots are taking food orders, reserving rooms, and scheduling flights. Without training, these chatbots can apply the pattern to similar problems or different questions. This ability gives them the “intelligence” to perform tasks, solve problems, and manage information without human intervention.

You can maximize the ability of artificial intelligence (AI) chatbots to improve service, save money, and increase engagement. Chatbots are rapidly moving out of the personal and into the business world and fall under the “Support” sections. According to the Facebook Messaging Survey conducted by Nielsen, 67% of people say they will message with businesses more over the next two years, and 53% say they are more likely to shop with a business they can contact via chat. To manage this massive interest in communicating with businesses via messaging apps, business will need chatbots.

80% of business decision-maker respondents to a 2016 survey by Oracle said they already used chatbots or plan to use them by 2020. Chatbots offer unique benefits for small businesses. It is a waste of money for small businesses to pay operators to answer calls or emails whenever they come in. AI-powered chatbots provide assistance to customers whenever they need it and immediately answer questions from potential customers, offering small businesses a way to simultaneously improve customer experiences and generate new business. They will enable businesses of any size to have scalable, convenient, 1-to-1 conversations whenever and wherever the customer prefers.

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The Biggest AI Opportunity for SMBs: Chatbots

NURAY GOKMEN KAHVECI | DIGITAL MARKETING MANAGER

AI(Artificial intelligence) will have the biggest impact on society, individual consumers, and businesses in the next several years. The reason AI will be so impactful is that it promises one thing we just can’t get enough of these days: convenience.

As a small business or startup, it is unlikely that you will invest on an expert to “do AI”. It is more likely to notive AI capabilities show up in the software you are using. Existing AI technology for businesses is already remarkable, but it’s not realistic for any business to invest in all of these AI tools at once. Here is the biggest AI opportunity for your SMB business: Chatbots.

Artificial intelligence has transformed chatbots more human like than ever before, and they are becoming extensive. AI talking chatbots are taking food orders, reserving rooms, and scheduling flights. Without training, these chatbots can apply the pattern to similar problems or different questions. This ability gives them the “intelligence” to perform tasks, solve problems, and manage information without human intervention.

You can maximize the ability of artificial intelligence (AI) chatbots to improve service, save money, and increase engagement. Chatbots are rapidly moving out of the personal and into the business world and fall under the “Support” sections. According to the Facebook Messaging Survey conducted by Nielsen, 67% of people say they will message with businesses more over the next two years, and 53% say they are more likely to shop with a business they can contact via chat. To manage this massive interest in communicating with businesses via messaging apps, business will need chatbots.

80% of business decision-maker respondents to a 2016 survey by Oracle said they already used chatbots or plan to use them by 2020. Chatbots offer unique benefits for small businesses. It is a waste of money for small businesses to pay operators to answer calls or emails whenever they come in. AI-powered chatbots provide assistance to customers whenever they need it and immediately answer questions from potential customers, offering small businesses a way to simultaneously improve customer experiences and generate new business. They will enable businesses of any size to have scalable, convenient, 1-to-1 conversations whenever and wherever the customer prefers.

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