Wildfire Media World. Welcome to our World!
We have entered the year 2017! Traditional Sales, Marketing and Management is dead. We now use data to predict future outcomes and anticipate what customers, competitors and partners need, way before they do. This is called Predictive Enterprise.
LONG LIVE BUSINESS 3.0
In order to stay relevant and grow business, all industries are fast harnessing the power of AI. Whether it be through Automated Deep Learning systems. Big Data Analysis, Cloud Computing, Automated cognitive computing or Applied Data Science, the new Business 3.0 model builds prediction into its strategy. Sounds way too complicated for so early in the year, right? Not really…here is how you can become a Predictive Enterprise and upgrade to Business 3.0.
There are many ways you can leverage online resources to listen to what customers, competitors and even employees are saying and anticipate their every need. Using the information you extract, you can innovate faster than anyone to emerge ahead of the pack in every way. Here are some ways to become a Predictive Enterprise.
By applying Automated Deep Learning algorithms to software, companies can automate their CRM. The data extracted can perform various functions like assessing a customer’s lifetime value, what products they require most and how often they require them. The knowledge gained will be useful in predicting what they might need next, and avail opportunities for improvements and innovation.
Your in-house programs can give you reports which you can use to gain insight into spend analytics, customer service performance, manufacturing variability, logistics optimization, consumer demand forecasting and supply chain risk management. But more than that, they can help you offer your customer more than what you thought possible! Big Data analysis affords you a deeper look into your business, helping you solve problems and deliver a better service to your customers. Social Media is another form of Big Data Analytics whereby you can gain insight into your customer’s behavior, reactions and predict future outcomes. This is how so many companies send you recommendations and newsletters pertaining to your interests.
Various internet giants like Windows, Google and Amazon allows documents to be shared on their servers. This is where Cloud Computing comes into play. Through their online applications you can access your documents from anywhere and share them to anyone. Information is easily stored and accessed, but the real eye popper about cloud based data is that it can be processed. This lends businesses the opportunity to harvest data from numerous resources. The more information a manager/ sales, purchasing or marketing employee is armed with, the better planning they can do. Having the bigger picture helps in the decisions they make, which ultimately funnels down to the service and support your customer receives. Many brand innovations can stem from the Cloud based computing with the correct information.
Just like Big data analyses, data can be mined through Automated Cognitive computing. A broad spectrum of technologies incorporated into software, can enable a business to input instructions, and have the machine learn from the data gathered, find hidden insights and produce an output which anticipates a specific need within your business. It is all about the rhythms in algorithms.
Applied Data Science is another word for data analysis, but guess what? There are actual University courses offered in this profession. The very capable Applied Data Scientist is able to delve even deeper into data and analytics extracted. This will help businesses to find even more creative ways to generate business value & generate more business. By using past data, your business will be able to recommend similar products or services to customers in future. Businesses will also be able to forecast complex behaviors, trends and make viable business decisions before any competitor.
The way in which companies will use data to plan production, keep optimal stock levels, recommend products to drive sales and send automated personalized responses to customers has changed. Information is no longer retrieved for present day monitoring, but to enhance the customer’s experience and future business decisions.
Interactive websites, with the best analytical tools, and solid social media management is the key to becoming the next best Business 3.0!
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