Predictive Analytics has been around for a long time; however, it is becoming rapidly popular today because of its wide range of practical applications. Predictive Analytics can gain insights into sales, production, and other business processes across industries such as telecommunications, finance, insurance, retail, travel, etc.
Predictive Analytics integrated with Intelligent ERP Software can help make better decisions. These decisions can be in regards to customer acquisition and retention process through accurate forecasting of new customer value creation as well as measuring return on investment (ROI) or reducing customer churn rate.
As a business owner, you may have a lucrative business with all the necessary resources and plans. But there is one question that will always be there, how long can you keep it up? Do you think you’ll be able to keep the same return year after year? Many firms start like kings, but after a few months or years, they begin to endure a steady downhill slope in their business. The primary cause of this downhill is a lack of the appropriate predictive analytical drill.
