Leverage millions of external data sources and machine learning to provide your organization a competitive forecasting and planning advantage
In today’s volatile economy, companies of all sizes are looking for ways to gain a competitive edge for predicting unforeseeable market trends. This is particularly true for organizations in the middle market, where agility and responsiveness are key factors for success. One tool that can help these businesses make more informed decisions is Prevedere, a cutting-edge analytics platform that uses a unique machine-learning approach to provide accurate and actionable forecasts.
How does Prevedere work and how does it impact my organization?
Prevedere utilizes leading indicators and an extensive pool of both internal and external data sources, exceeding 3 million, within its forecasting algorithm, allowing organizations to proactively and efficiently plan for the future. The platform starts by ingesting a company’s historical data, including financial metrics, sales figures, and operational data. It then overlays this information with its vast data sources, such as economic indicators, market trends, and social media sentiment analysis to generate highly accurate forecasts.
One of the key benefits of Prevedere is the ability to provide real-time insights into a company’s performance by analyzing data and identifying trends as they happen. This can be especially useful in fast-paced industries where decisions need to be made quickly. For example, if a company notices a sudden spike in demand for a particular product, it can use Prevedere to analyze the data and identify external trends that could provide explanations for the behavior, such as surges of social media sentiment or an increase in a population’s disposable income. This can help the company respond quickly and adjust its strategy to take advantage of the opportunity.
Another benefit is its ability to identify the drivers behind key business metrics. This enables companies to understand what factors are contributing to changes in their business and make data-driven decisions to improve them. For instance, a company notices a decline in its website traffic, and they want to understand what factors might be contributing to this decline. They could use Prevedere to analyze a range of data sources, such as website analytics or social media engagement, to uncover key factors impacting customer behaviors. These indicators could be anything from changes in search engine algorithms to increased competition for keywords, or even a decrease in overall social media engagement. Armed with this information, the company could take action to address these issues and improve its website traffic.
Finally, Prevedere is designed to be user-friendly and accessible, with a simple dashboard that presents key metrics and insights in an intuitive format. This means that organizations can leverage advanced analytics capabilities without requiring extensive technical expertise or dedicated resources.
3 Prevedere Use Cases
- Forecasting Sales and Demand: by analyzing an organization’s sales figures alongside external data such as economic indicators and social media sentiment, Prevedere can help businesses make informed decisions about budgeting, and inventory management to ensure that they are prepared to meet customer demand.
- Optimizing Marketing Strategies: Prevedere can analyze customer behavioral data (i.e, open rates, click-through rates, and conversion rates) alongside external data, such as social media sentiment and news feeds, to identify which campaigns are most effective at driving engagement and revenue growth. This can middle market organizations determine the effectiveness of marketing campaigns and optimize marketing strategies
- Competitive Analysis: by analyzing sales figures with external data sources such as news feeds and social media, Prevedere can identify emerging trends and changes in consumer sentiment and market patterns that may impact a company’s business. This can help organizations adjust their strategy in real-time to stay ahead of the competition and capture market share.
How can I get started using Prevedere for my organization?
RSM’s Advanced Analytics practice is positioned to help you unlock the power of machine learning and AI to achieve your business goals. Prevedere can provide your organization with accurate and actionable forecasts, real-time insights into market trends, and scalable analytics capabilities, to help make data-driven decisions and stay ahead of the competition.
If you are interested in discussing the capabilities of Prevedere and how it can be applied to your organization, please contact me at firstname.lastname@example.org.