Last Updated: June 22, 2018
Twice a month, Prevedere showcases headlines on business insights and predictive analytics to keep decision makers informed of the latest trends and conversations. For IT, finance, sales or marketing professionals, we are a go-to source for how the intersection of technology and business analytics is transforming business planning and decision making.
Procurement departments have historically been laggards when it comes to adopting modern enterprise technologies due to the rigid cost-cutting mindset required. However, executives are starting to see the benefits in procurement automation technology, with only 3% of executives anticipated to have no automated procurement processes within the next 18 months. The possibilities associated with predictive analytics, artificial intelligence and other technologies are becoming harder to ignore, so much so that big data and predictive analytics have been called procurement’s secret weapons for the near future. These modern technologies are transforming the way data scientists can manipulate information so procurement departments can peek into the future with increasing accuracy. This allows procurement professionals to better understand what to buy next and how it will add value to their company. Read here for more insight on how to bring procurement departments into the future.
In today’s hyper-competitive market, every business is searching for some tool, technology or process that will give them a competitive advantage. One piece of technology that has consistently accomplished this and has been deployed by both large enterprises and small businesses alike is machine learning. Machine learning provides information systems the ability to automatically learn and improve from experiences and transactions without being explicitly programmed. As executives are pressed to make important marketing, sales and investment decisions each day, this Forbes article has five use cases for deploying machine learning that could make 2017 the most profitable year yet. Read it here.
While marketing has historically been seen as a creative, right-brained business function, the tides are starting to take a turn in favor of data-driven insights and campaigns. Modern marketers are under immense pressure to effectively utilize the growing amount of data from an ever-growing number of sources. The race for data has allowed marketing teams to do more than they ever could have dreamed in the past, all while being more efficient and at a cheaper cost. This Forbes article details the advantages of combining traditional, creative, right-brained marketing tactics with modern, data-driven, left-brained tactics. Brands that only focus on short-term ROI, while failing to provide truly remarkable experiences, may lose their ability to connect to their consumers.
Want more AI and predictive analytics news? Be sure to follow us on Twitter for the latest.