Representative Scenarios & Case Studies
Put machine learning to work for you.
Finance & Banking
Predicting late paying customers
The cost of collecting and impact of late paying customers can create significant challenges for companies, especially global large scale businesses. Using a predictive model to identify customers at a high risk of paying late enables collectors to optimize their collections efforts. By predicting late paying customers an organization can improve their overall cash velocity and reduce their Days Sales Outstanding while at the same time reduce or mitigate growing operational costs.
Predicting revenue forecasts
Predicting future revenue can become increasingly more unpredictable for large corporations operating across many lines of business and multiple geographies. The human process of rolling up forecasts and the subjectivity that occurs due to natural biases within business can lead to unexpected variances to actuals. Machine learning can be used objectively to further validate your forecasts and improve accuracy over time.
Predicting cash flows
Predicting cash flows is a quantitative estimate of cash inflow and outflow for future periods. For any commodity trading firm, efficient management of accounts receivable is more challenging than accounts payable because accounts receivable are dependent on factors not controlled by the firm. In the long run, accounts receivable also impact accounts payable.
Sales & Marketing
Improved customer segmentation with predictive analytics
Predictive models can enable more precise segmentation of potential buyers and facilitate a deeper understanding of the buyer, their needs and their motivations. By tailoring the marketing offer and message directed at the buyers, machine learning provides an effective path to improving your marketing ROI.
Customer sentiment as a strategic advantage
Understanding how your customer feels about your product or service can be critical to shaping the optimal marketing campaign or targeting the right combination of product and service offerings. With improved insights made possible by converting text into a valuable view of customer sentiment, you can quickly interpret a customer’s concerns and preferences and alter your marketing plan and offerings to hit the mark.
Sales incentive optimization
Understand how sales incentives are truly adding to the bottom line while reducing the amount of “gaming” that goes on. Is your incentive plan driving the correct behavior and leading to the results you are expecting? Predictive analytics can be leveraged to better understand the “hidden” facts of your incentive plan and when combined with data such as customer satisfaction surveys and invoice disputes can be a powerful tool for improving your bottom line.
Hospital & Healthcare
Forecasting hospital bed occupancy
Operational efficiency also requires accurate patient census forecasting. Hospitals need to ensure that sufficient numbers of beds are available in the community and that those beds are seldom empty. The number of available beds affects staffing levels, surgery schedules, admissions from the emergency room, and more.
Curtailing hospital readmissions
Predictive analytics can not only prevent avoidable hospital readmissions; it identifies patterns with certain chronic diseases. Spotting the pattern makes early intervention possible that could keep patients out of the hospital in the first place.
Hospital resource utilization optimization
Having the right hospital resources available at the right time so that a patient’s medical needs are met with a high quality standard of care leads to high patient satisfaction. This can be made possible with improved forecasting of demand through the use of predictive analytics.
Compliance & Controls
Sanctioned party screening
If your organization is doing business outside of the United States, you are likely subject to regulations requiring you to screen foreign customers, suppliers, visitors and entities to ensure they are not on the Sanctioned Party List. As your business volume grows, you may be facing increasing screening costs and compliance concerns. Machine learning offers methods to reduce the number screening blocks and automate your processes leading to improved compliance, less business disruptions and lower operating costs.
Purchase order compliance
Leverage machine learning to detect purchase orders that may lead to a violation of your company's expense policy. Using natural language translation you can evaluate the text associated with purchase orders that may be in conflict or violation with your company’s policy.
Risk fraud detection
Machine learning can learn to distinguish between suspicious account behavior and normal customer actions and ascertain patterns that signal fraud in account sign-ups to prevent fraudulent activities from occurring in your system.