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With the economic downturn, every business is managing capital and operating costs tightly. The uncertain climate mandates smarter decision making to ensure the best performance from mission-critical business processes. Ayata software can help. Ayata's patent-pending technology can not only predict future outcomes, but also prescribe decision options and the impact of each option. Companies such as Dell, Cisco and Microsoft use Ayata to make smarter decisions for some of their largest business processes.
Prescriptive Analytics - The Final Phase of Analytics
There are three phases of analytics: Descriptive, Predictive and Prescriptive. The most traditional is Descriptive analytics, and it accounts for 90% of all business analytics today. Descriptive analytics looks at past performance and understands that performance by mining historical data. Almost all management reporting (sales, marketing, operations, and finance) uses this type of "post-mortem" Descriptive analytics. It is like driving a car forward by looking at the rear view mirror. The next phase is Predictive analytics. This is when historical performance data is combined with rules, algorithms, (and occasionally) external data to predict future outcomes.
The final phase is Prescriptive analytics. It goes beyond simply predicting future outcomes. Prescriptive Analytics automatically synthesizes big data, mathematical sciences, business rules, and machine learning to suggest decision options to take advantage of the predictions. Moreover, it shows the decision-maker the implications of each decision option. So now managers can take actions with a high degree of confidence, backed by hard data.
How Ayata Software Works
Ayata pioneered the technology behind Prescriptive Analytics through eight years of scientific research and development. Ayata's software synergistically brings together Data, Rules, and Models. Data can be operational and/or environmental (econometrics, competitive, weather, benchmarks, etc.). Ayata software takes into account both structured (numerical and categorical) and unstructured (text, images, audio, video) data, including "big data."
Rules define the business process and include constraints, preferences, policies, best practices, and boundaries. Models are techniques derived from mathematical sciences and related disciplines including applied statistics, machine learning, operations research, and natural language processing.
These three elements combine synergistically to deliver Ayata’s prescriptive analytics. The software not only predicts "what will happen" and "when it will happen," but also "why it will happen." More importantly, the software can also suggest decision options on "how" to take advantage of a future opportunity (or mitigate a future risk) and show the implication of each decision option. The software can continually and automatically process new data to improve prediction accuracy and provide better decision options.
Secure SaaS Delivery Model
Ayata software is delivered through a Software as a Service (SaaS) delivery model. Customers have the choice of using a public cloud or their own private cloud infrastructure for additional data security. The SaaS model enables Ayata to ensure that the customers are always using the latest version of the software and deriving the maximum value from it.
Contact us to learn more about how Ayata can help your organization improve decision making with Prescriptive Analytics.
