Given all the variables of running a business, predicting revenue at the end of the quarter can be quite a challenge. Invoices, expenses, market fluctuation, seasonal and holiday spikes, etc. Accurate predictions improve all aspects of business management-making it clear which strings to pull to optimize your operations.
Case Study: Supply Chain & Revenue Predictions for Pharmaceuticals
Understanding customer behavior and figuring out what their exact needs are is possible at a fine-grained level. It can inform about weekly, daily, and seasonal variations, giving outlets and companies an automated way to reduce demand uncertainty. Make sure desired products are on the shelf, reduce inventory management costs and optimize all fulfillment channels.
Anomaly detection algorithms can help businesses identify and react to unusual data points in multiple scenarios. A bank security system may employ anomaly detection to identify fraudulent transactions. Likewise, manufacturing plant owners rely on anomaly detection for dealing with malfunctioning equipment and implementing predictive maintenance measures.