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The rise of the machines? | What is predictive analytics and how can it help us?

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The rise of the machines? | What is predictive analytics and how can it help us?

Technology has always moved fast but in the last ten years, the succession from theory to reality has moved on at a pace.  Areas such as “big data” and the “internet of things” are no longer pie in the sky tech trends that don’t apply to all organisations or people.  Interestingly, Somerset House have an exhibition running entitled “Big Bang Data” where art discusses the proliferation of data in recent years.  At the Microsoft Convergence event that took place in late 2015, it struck me how far predictive analytics and machine learning have now become integrated into business applications.

In simple terms, this area of technology is the examination of data, trying to find patterns, replicating them and comparing new data in order to make better predictions or automate processes.

We have previously blogged about IoT in manufacturing and how organisations can start to use it to alleviate pains in cost, quality and time.

Machine learning – a service maintenance scenario

Service management organisations can leverage machine learning or predictive maintenance technology that is integrated within their business management application.  One of the major benefits of doing so include increased customer satisfaction, as you can exceed service level agreements (SLAs) through speedier reaction times and be more of a pre-emptive service provider.

Microsoft Dynamics ERP for instance can look at KPIs such as pressure readings, electrical levels, response times and temperatures – scan what is and isn’t normal – and take appropriate action (log a case, create a workflow for call centre etc).

Your service operation becomes more streamlined with more accurate diagnosis capabilities and less reliance on manpower through automated technologies, providing a “round the clock” client experience.

The power of predictive analytics in maintenance

Predictive analytics can support many areas of the business, from providing trend analysis for procurement to allow for better economies of scale and pre-emptive replenishment, through to the service department itself to help with reducing un-necessary call outs on functioning machinery and preventing failure that impacts on your clients’ supply chain.

When service companies have this technology at their fingertips and provide such a good client experience, they create cross and upsell opportunities in order to maximise their revenue potential and competitive edge.

In our next predictive analytics blog, we will discuss how Microsoft Dynamics CRM, Delve and Cortana can combine to create a “system of intelligence”.

Contact Prodware to discuss how integrated business applications from Microsoft can help your organisation streamline processes, deliver great customer service and maximise your profits.

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