Johannesburg, 27 May 2013
Every day companies gather data. Rapidly increasing volumes of data, which should put vital information at their fingertips - information that will pinpoint patterns and behaviours in the company and its customer base, data that will facilitate informed decisions about future endeavours.
"That is the ideal, but we continue to see companies struggling to make the most of the data that is available to give them insight into what they are doing, and what they are planning for the future," says Christo Bredenkamp, MD of Synergy. "Which is why we are so excited to be hosting three breakfasts nationwide, where we will showcase how predictive analytics can be used to drive evidence-based decisions to achieve business goals."
Using predictive analytics products, Synergy will show attendees how the cloud-based software can help to:
* Uncover unexpected patterns and associations from data within their organisation - and develop models to guide front-line interactions.
* Prevent high-value customers from leaving, sell additional services to current customers, develop new products, improve operational efficiency, and identify and minimise fraud and risk.
* Perform advanced analytics, data mining, text mining, social media analytics and statistical analysis, including regression analysis, cluster analysis and correlation analysis, data collection and online survey research, data modelling and predictive modelling.
* Use customised functionality for different skill levels, including visual, menu-driven interfaces for beginners and command syntax interfaces and advanced functionality for more skilled analysts.
* Manage and deploy analytical assets across an organisation and deliver optimised decisions to operational systems and decision-makers.
"What is more, predictive analytics isn't restricted to one line of business or to those in IT, but can be applied to virtually every industry," says Bredenkamp.
"For example, a university can use predictive analytics to help identify students who are at risk of not completing their courses. Those responsible for retention can select the actions most likely to get each at-risk student back on track so the student stays enrolled."
Citing another example, he said mid-size retailers who could benefit from advanced analytics but might be constrained by budgets or lack of skilled resources, can upload customer data and receive insights for creating combination offers and promotions, along with targeted product recommendations for individual customers, which can drive additional purchases and increase spending.
"Those in the insurance industry can identify policyholders at risk of not renewing and select the incentives most likely to persuade such at-risk policyholders to stay loyal."
Bredenkamp says driven by predictive analytics, predictive maintenance solutions can assess multiple parameters from various sources in real-time to identify patterns of quality issues and develop repair procedures or predict equipment failure before machine actual failure to reduce maintenance costs and costly machine downtime.
"The bottom line is that predictive analytics can help an organisation predict with confidence what will happen next, so that smarter decisions can be made and business outcomes can be improved."
The breakfast sessions will take place in:
Johannesburg, on 18 June, at The Saxon Hotel in Sandton;
Durban, on 19 June, at the Oyster Box Hotel in Umhlanga Rocks; and
Cape Town, on 21 June, at the Mount Nelson Hotel in Gardens.
For more information or to register, contact Priscilla Doig at priscilla.doig@synergy.co.za or visit our events Web page.
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