Where is Predictive Analytics used?

 
Surprising ways predictive analytics is used.

Predictive analytics isn’t new. In fact, there’s a very old story about target loyalty and number crunching that’s now the stuff of textbooks. The possibilities offered by AI models have also improved predictive analytics, with the result that this technology is now widely reported on.

Today we take a look at the surprising ways in which predictive analytics is being used and influencing our everyday lives and the economy.

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sales-ai-analytics

Predictive Analytics in Sales: 5 Ways it Can Power Yours to Success today

Five practical examples of Predictive Analytics that will make your sales team successful.

Getting an edge in today’s competitive market place is vital. For B2B companies, possessing the tools to explore customer behaviour and prioritise leads not only aids productivity but helps boost that all-important bottom line.

Predictive sales analytics has come a long way in the last decade. It is now far more accessible to businesses in traditional industries. For many, it’s a powerful tool in helping to support sales and operations planning.

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Künstliche Intelligenz im Vertrieb | Qymatix News

AI in sales gains momentum: Qymatix Experts Fully Booked in November

Karlsruhe, 07.12.2023. The topic "Artificial Intelligence in Sales" is becoming more and more popular! In the last few weeks alone, Lucas Pedretti, CEO of Qymatix Solutions GmbH, has been a guest speaker at four exciting events:

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Intelligente Preisgestaltung | Predictive Pricing Wholesale

Intelligent, Predictive Pricing: the Key to B2B Wholesale Success

 

Digitalisation is a blessing and a curse, an opportunity, and a threat. Nearly 900 German wholesale companies took part in a recent study by Roland Berger and the German Wholesale, Foreign Trade and Services Association (BGA). Almost all of them, 94%, believe that digitalisation is driving change in their sector. Two-thirds are aware of the challenges it poses.

In particular, the companies surveyed see themselves threatened by digital platforms when it comes to pricing (62%).

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Zukunftstrends im B2B-Grosshandel

B2B Wholesale Future Trends 2024

 
Across B2B wholesale future trends 2024, you’ll see a few key themes: technology, personalisation and change.

Some are accelerations of global movements, while others are specific to the B2B space. We’ll break down what you can expect in 2024 and where these movements are coming from in this quick, 5-minute read.

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b2b-distribution-kpi

The Most Important KPIs in Distribution and the Influence of AI

Key Performance Indicators (KPIs) are also used to manage companies in the retail and wholesale sectors.

AI in the form of predictive analytics can establish correlations between individual KPIs and thus provide recommendations for action.

Numerical parameters are necessary to understand the current situation of a business. Key Performance Indicators (KPIs) are indicators that can be used to measure and determine the performance or degree of fulfilment of pre-defined objectives within a company.

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Optimizing AI Efficiency

Optimizing AI Efficiency: Effective Use of Data via Qymatix Cloud Connector

 

As businesses increasingly leverage artificial intelligence (AI) to streamline operations, optimize decision-making, and gain insights, the role of data as the lifeblood of AI has become indisputable. Data acts as the foundation upon which AI models are built, providing the raw materials necessary for AI to learn, adapt, and evolve.

However, manually handling and extracting data for AI can be time-consuming, costly, and fraught with errors. This is where the Qymatix cloud connector comes into play.

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Predictive Analytics vs Prescriptive Analytics

Predictive Analytics vs Prescriptive Analytics

 

With so many types of data analytics and analytical methods out there, many people are curious about the relationship between predictive analytics vs prescriptive analytics.

Today, we’ll review all four types of analytics and delve into predictive and prescriptive analytics to help you understand when and how to use both.
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What Artificial Intelligence can do

What artificial intelligence can and can´t do

For years, artificial intelligence has fluctuated between the terms "Terminator", "technology of the future", or "new superpower", and "doesn't work", "is disappointing", or "no confidence".

It is not surprising that there have repeatedly been so-called "AI summers" and "AI winters" over 70 years. More specifically, there have been two AI winters since the 1950s, when AI was being researched and developed: In the early 1970s and late 1980s, the high expectations for the technology were dashed. Investors pulled out, and researchers got less funding.
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Top 3 Predictive Analytics Software für den Großhandel

The Top 3 Predictive Sales Analytics Software for B2B Wholesalers in Germany

The rise of e-commerce has put much pressure on B2B wholesalers in Germany to optimize their sales strategies. With around 5,000 to 10,000 customers with 20,000 to 100,000 articles, it is challenging for wholesalers to predict customer behaviour, find the optimal price for each customer and profit from cross-selling chances.

That is why, for example, leading companies such as High Precision Components Witten GmbH, KIS Antriebstechnik GmbH & Co. KG, Armbruster Engineering GmbH & Co. KG and X-Bond GmbH & Co. KG have created a research consortium together with the Chair of Industrial Sales and Service Engineering (ISSE) and the Sales Management Department (SMD) at RUB.
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