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Prescriptive Analytics. In the future of business intelligence, it will also be more common to break data-based forecasts into actionable steps to achieve the best strategy of business development. The companies that yield BI-related tasks to internal IT teams now, are likely to hire expert consultants in the next years.
This tool helps professionals collect real-time pipeline trends, sales engagement, and historical performance that help sales leaders revolutionize forecasting by predicting the sales revenue efficiently. For more help, you can connect with top-notch consultants; they will help you with the best solutions.
My name is Melita Menezes and I’m a consultant at BRIDGEi2i. I collaborate with multiple stakeholders across many global CPG companies, enabling high impact business transformation strategies and guiding them in their analytics journey. Prior to that, he led digital and customeranalytics engagements at Dell, HP, and GE.
Armed with this intelligence, CSMs can more easily understand what their next best action should be, what risks and openings may arise in different customer accounts, and even forecast more accurately, so they can develop initiatives based on data that will reduce customer churn, increase retention, and boost growth.
Diagnostic analytics: Uncovering the reasons behind specific occurrences through pattern analysis. Descriptive analytics: Assessing historical trends, such as sales and revenue. Predictive analytics: Forecasting likely outcomes based on patterns and trends to facilitate proactive decision-making. JPMorgan Chase & Co.:
Spending on AI is forecast to double over the span of four years, growing from just over $50 billion in 2020 to a whopping $110 billion in 2024. As part of its bid to compete head-to-head with Walmart, it chose the EreaBI Analytics Platform for Retailers from Erea Consulting. billion by 2027!
To this end, Charles Holive, Managing Director of Sisense’s Strategy Consulting Business, calls for the appointment of a chief data officer in every leadership team to be the main advocate for data-driven working practices, and he says they should have revenue targets.
If you are a consultant then identifying opportunities is a smidgen harder, but you can use your experience with other clients to quantify value. The best option is to hire a statistician with experience in data modeling and forecasting. You can and should do that now (along with customer lifetime value type valuable computations).
In a recent study by Mordor Intelligence , financial services, IT/telecom, and healthcare were tagged as leading industries in the use of embedded analytics. Healthcare is forecasted for significant growth in the near future. They bring the domain expertise necessary to implement embedded analytics successfully.
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