An Intellyx Brain Candy Brief
For most enterprise organizations forecasting is one of those critical activities that takes a lot of effort and almost always falls short of the hoped-for results. They know, however, that if they can get their forecasts right, the positive impact on competitive advantage and top-line and bottom-line results is exponential. As a result, they have continued investing money and resources in this laborious, slow and imperfect process.
But what if there was a way to transform not only the way that forecasting takes place, but to make the results more accurate, actionable and impactful? This is the question that Concentric, a global provider of market simulation technology, sought to answer. The company has built a solution that enables organizations to simulate human behavior, unify analytics, forecast outcomes and predict market behavior.
This AI-powered capability enables organizations to create a dynamic view of the market and answer pivotal questions like which product features they should prioritize, which are the optimal customer touchpoints and how to increase distribution. Importantly, it takes the forecasting process beyond the realm of just finance and enables them to use forecasts strategically to make better and faster decisions in a rapidly shifting market.
Purpose-built to help enterprises accelerate and enhance the forecasting process, the company’s intelligence platform combines machine learning, agent-based modeling (to recreate a market), behavioral economics, network science and marketing analytics to create a more dynamic market forecast. This new type of forecast enables organizations to accurately predict future outcomes based on both their current activities and using various planning scenarios.
Copyright © Intellyx LLC. Intellyx publishes the Agile Digital Transformation Roadmap poster, advises companies on their digital transformation initiatives, and helps vendors communicate their agility stories. As of the time of writing, none of the organizations mentioned in this article are Intellyx customers. To be considered for a Brain Candy article, email us at pr@intellyx.com.
