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Our prescriptive analytics service offerings
Statistical Analysis
As an experienced prescriptive data solutions provider, we offer comprehensive statistical analysis services to help businesses make data-driven decisions and optimize their business structure easily.
Our statistical analysis services include:
- Creating a comprehensive roadmap of data collection, data cleaning and preparation, statistical analysis and modeling, and data interpretation and reporting, tailored to your business operations
- Using regression analysis, factor analysis, hypothesis testing, and time-series analysis to help your business obtain key insights into the collected data and make decisions accordingly
- Using ML and AI algorithms to extract insights from business data and develop predictive models to forecast future trends, determine anomalies and patterns in vast datasets, and automate business decision-making
- Deploying customized statistical analysis solutions using industry-standard technologies like SPSS, SAS, Python, and R, along with Power BI and Tableau for data visualization
- Validating all assumptions and hypotheses made using gathered data and testing them through different statistical models to arrive at the most accurate business decisions that will lead to the desired outcomes
Customer Segmentation
Our prescriptive analytics services offer extensive customer segmentation solutions, dividing your consumers based on their preferences, demographics, and behavior. Through this, your business can tailor marketing messages and product offerings to specific customer segments, enhancing customer loyalty and satisfaction and driving boosted business growth.
Turing Customer Segmentation Solutions include:
- Deploying prescriptive analytics algorithms to analyze purchase history, social media activity, website behavior, and other key user data to determine patterns and make customer behavior predictions
- Using decision trees, clustering, and neural networks for segmentation modeling based on customer data
- Using sentiment analysis and natural language processing to utilize business data and obtain deeper metrics surrounding customer preferences and behavior. Our experts then use these analytics to build accurate customer segments indicating underlying preferences of varying customer groups to empower your business to take informed actions for sales
Supply Chain Optimization
Get an end-to-end solution using prescriptive data services that analyzes your current supply chain data and identifies improvement areas. Our experts are adept at using prescriptive analytics to identify inefficiencies, decrease business costs, and deploy accurate solutions to optimize supply chain performance.
Our personalized approach caters to your specific business areas, such as lead times, inventory levels, demand variability, and transportation costs. We use prescriptive analytics algorithms to identify the most optimal way for resource allocation and inventory management.
Turing Supply Chain Optimization Services include:
- Using prescriptive analytics to gather SCM data, conduct data preparation and cleaning, and optimization modeling
- Using optimization techniques like network optimization, linear programming, and simulation modeling to identify the most cost-effective, efficient, and business-ready supply chain configurations tailored to your business
- Using IoT and real-time analytics to monitor supply chain operations in real-time and identify potential SCM disruptions and bottlenecks as quickly as possible. Using these, our in-house experts create custom contingency plans and proactive measures your business can incorporate for risk mitigation and smooth supply chain operations
- Using supply chain optimization tools like APO, SAP, and JDA to deploy our customized supply chain optimization solutions seamlessly
Prescriptive Modeling and Model Deployment
Turing’s in-house experts use prescriptive analytics to create tailor-made prescriptive models using large customer datasets. These models optimize decision-making and can be implemented into your current business structure, hassle-free.
Our prescriptive modeling and model deployment services involve:
- Analyzing current business data and automatically building accurate predictive models for the future. This includes using AI and ML to create predictive models tailored to predict future trends and identify potential threats unique to your business, allowing you to take better decisions every time
- Incorporating prescriptive analytics results into decision-making systems and obtaining the desired business outcomes. Here, our experts will help set up a tailor-made decision-making system that will automate the entire decision-making process based on prescriptive modeling
- Using industry-standard optimization and modeling techniques like decision trees, linear programming, and genetic algorithm to identify ideal solutions and conduct successful prescriptive modeling
Our experts also offer multi-model assessments that will assist your business in selecting ideal business solutions and taking vital decisions at the most optimal times.
Risk Management
At Turing, we provide the necessary development talent to help your business identify potential risks and the best course of action to mitigate them, using prescriptive analytics.
Our comprehensive prescriptive analytics services include end-to-end risk management solutions. These help clients reduce the impact and likelihood of negative business events, such as supply chain disruptions, product recalls, or cybersecurity breaches.
Our risk management solutions include:
- Creating a 360-degree risk management roadmap for your business, including risk assessment, identification, mitigation, and continuous risk monitoring
- Using techniques like Monte Carlo simulation, scenario analysis, and decision trees to determine potential risks and assess their impact on your business operations
- Creating customized risk mitigation strategies for uncertainties and risks in your business operations. These strategies include creating contingency plans, implementing risk transfer mechanisms, and optimizing your SCM to reduce the likelihood of disruptions
- Using R and Python, along with risk management software like @Risk and Risk Solver, to deploy risk management solutions
Financial Planning and Forecasting
Turing’s experts use prescriptive analytics to provide personalized financial planning and forecasting services that allow your business to stay on top of its finances and make the right decisions to avoid constraints and monetary distress.
We analyze large financial datasets to predict future performance and recommend strategies to enhance financial outcomes. These will empower your business to optimize decision-making surrounding investments, overall financial strategies, and cash flow management.
Our financial planning and forecasting solutions include:
- Using prescriptive analytics algorithms to analyze historical financial performance, macroeconomic indicators, and market trends to predict future performance. Using these, our experts will create financial forecasts, determine risks, and create appropriate strategies to boost financial outcomes
- Using time series analysis and scenario planning to create customized models that forecast future financial trends and identify potential opportunities and risks automatically
- Using ML and AI algorithms to create accurate financial models that predict future financial performance and improvement areas to optimize business finances accordingly
- Deploying financial planning and forecasting solutions through advanced modeling software like Adaptive Insights and Oracle Hyperion to obtain the desired results promptly
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Frequently asked questions
Find answers to common questions about training and enhancing high-quality LLMs.
What is prescriptive analytics, and how does it differ from predictive analytics?
Prescriptive analytics involves using optimization techniques and algorithms to identify the best course of action to take in a given situation. It takes into account various constraints, such as resources, time, and budgets, and recommends the best possible solution to achieve a specific goal. Prescriptive analytics uses techniques like optimization, simulation, and decision analysis to identify the best course of action given certain conditions.
Predictive analytics, on the other hand, focuses on forecasting future outcomes and trends based on historical data. Using techniques like data mining, statistical analysis, and machine learning algorithms, predictive analytics identifies patterns and relationships in the data to predict future events.
What are the benefits of prescriptive analytics for my business?
The following are the benefits of implementing prescriptive analytics into your business:
- Creating scalable and repeatable processes: Prescriptive analytics allows your business to use historical data and run what-if analyses rapidly. Running multiple what-if scenarios, your business can quickly adopt the most effective option and turn it into a repeatable and scalable process
- Optimizing business actions for ROI fulfillment: Business owners can use prescriptive analytics to predict the course of action for any area, be it marketing, sales, or pricing, and deliver optimal month-on-month ROI seamlessly
- Reaching higher agility: Using prescriptive analytics to run and simulate various scenarios surrounding sudden market shifts, your business can determine the best possible ways to respond to such shifts promptly. This will strengthen your business to make near-time decisions and maintain maximum agility
- Eliminating underperforming channels: In a business, there can be many revenue channels that are underperforming, but go unnoticed. Prescriptive analytics can help identify such channels quickly and remove them to optimize your business across multiple areas, including your supply chain, finances, product lines, and more
- Establishing a long-term plan of action: Implementing prescriptive analytics also helps to remove data silos and unite teams through a collaborative business model to create a more consistent plan of action for the long run
How does prescriptive analytics help with decision-making in my business?
When you procure prescriptive analytics services, you get the necessary tools to create and deploy optimization models that mathematically represent business problems, allowing you to simplify the decision-making process.
Prescriptive analytics is designed to use analytical algorithms and models to help businesses make a decision and obtain an actionable recommendation. Therefore, adopting prescriptive analytics will empower your business to make complex business decisions more easily by visualizing possible outcomes, opportunities, risks, and other business scenarios, obtained from analyzing various business data.
How can I integrate prescriptive analytics into my existing systems and processes?
Integrating prescriptive analytics into your existing business processes and systems is a complex task involving multiple steps. This ranges from determining the problem areas to be solved, choosing the right technologies and talent, and obtaining executive support, to setting up a prescriptive analytics team, building and validating models, data preparation, and more.
However, you can simplify this entire process through Turing Prescriptive Analytics Services, where our in-house experts do all the heavy lifting. From data analysis and customer segmentation to risk management and business outcome visualizations, our experts leverage their vast expertise to handle every stage of incorporating prescriptive data solutions into your current business model.
What kind of prescriptive analytics services does Turing offer?
Turing provides personalized prescriptive analytics services, where we analyze your current business structure, needs, data, and goals to create custom solutions. Leveraging our expansive prescriptive analytics experience, we provide customer segmentation, financial planning and forecasting, supply chain optimization, prescriptive modeling, and various other prescriptive analytics solutions tailored to your unique business objectives.
