Why Data & Analytics?
Organizations have always analyzed data to help support business strategy, operational decisions and risk management. This encompasses all of the historical data and information that resides in data warehouses, spreadsheets and visualization tools and is used for executive dashboards and reporting for more informed business decisions. The aim is to achieve a centralized, trusted data source for an organization to draw from. This supports decision making based on fact, not fiction.
In addition to this traditional analytics, EYC3 is experienced in advanced analytics, which can predict future events and assist organizations to prescribe actions that will result in positive change. Also known as predictive and prescriptive analytics, this can help clients shape the future and achieve stronger outcomes. Some examples include:
- Customer behavior - what customers want and are most likely to do next – next most likely purchase, enhance loyalty redemption, retarget abandoned purchases, brand switch minimization, wallet share estimation, churn, channel optimization
- Employee behavior – what your people are likely to do next – employee churn, CV screening, training program development, performance management
- Equipment maintenance - what machinery is most likely to fail and when - sensor data for asset failure, optimal run speeds, inventory management, yield management,
- New product development - what customers want next – increased life time value, price sensitivity, demand forecasting
- Risk – where you’re exposed – credit risk, fraud detection, cyber security, accounts payable recovery, credit card fraud, claims prediction.
WHY EYC3 for DnA?
We help clients align the human elements of data and advanced analytics to technical capability. This ensures that not only can you generate valuable insights with technology but you can then action those insights through behavioral alignment. Humans are the key to successful data & advanced analytics organizations; technology is the tool we use. To succeed, companies must focus on the human element to bridge the gap and go from insights to action to value.