Are customer insights, pricing and supply chain strategies important for your business results? Try decision intelligence.
Here are just a few examples of how decision intelligence can be of help in the manufacturing, retail and finance industries.
Optimized maintenance in the manufacturing industry
Since manufacturing companies rely heavily on equipment and machinery, being able to predict maintenance needs can reduce costs associated with breakdowns and unplanned downtime. Data gathered from sensors that show equipment status for temperature, vibrations and power usage, can be used by decision intelligence to identify patterns that indicate that a failure is about to occur. This lets the manufacturer:
- schedule maintenance before failure occurs,
- reduce downtime,
- improve performance and productivity.
Real-time pricing helps retailers win the competition
In retail, decision intelligence can be used to analyze data on past sales of particular products, including information such as the time of purchase, location, and customer demographics. If this data is used to train a predictive model it means that the retailer can:
- predict the optimal price for products.
- adjust prices in real-time, based on demand, inventory levels, etc.
- get ahead of competitors
By better understanding their customers and their buying behavior, retailers can improve their overall performance.
More accurate credit risk management in finance
Traditional credit risk management relies on rule-based systems that mainly uses historical data to identify patterns. These systems are often inflexible and miss new patterns.
Decision intelligence predictive models can be updated in real-time as new data becomes available. This helps financial institutions to
- identify and manage credit risk,
- make more accurate lending decisions,
- improve their overall performance.
The Ignizer – your platform for better business decisions
At Ignize, we help companies make better business decisions with an advanced and intuitive decision intelligence platform, The Ignizer. Improve your insights and turn them into actions as well as business results. This is how it works.