Prevedere Launches Predictive AI Platform For Strategic Business Plans

What to Read Next

1. Shoppers Have Low Tolerance for Errors in Holiday Ecommerce

2. Magnite Expands Audience Activation Solution to India, Southeast Asia

3. Jasper Launches AI Studio

4. Compulse Teams with Placements.io

Prevedere recently announced the launch of ERIN Protect, the latest addition to its predictive AI platform and suite of products. ERIN (External Real Time INsights) is Prevedere’s global data repository and patented machine learning platform that enables the creation, testing and publishing of econometrics based predictive models and insight.

Organisations leverage Prevedere’s technology to identify economic drivers, build predictive models and create business and target market forecasts. By incorporating external signals and insights into their strategic plans and forecasts, Prevedere’s customers are better positioned to compete in an increasingly volatile and ever-changing world.

ERIN Protect is the latest capability of the cloud-based ERIN platform, extending Prevedere’s ability to proactively identify how changing external events will impact a company’s strategic plans and forecasts. ERIN now enables and supports the entire predictive AI lifecycle. ERIN Discover identifies the leading drivers and indicators for a specific business or market. ERIN Predict systematically creates, simulates and refines thousands of predictive models, based on those indicators. ERIN Scenario optionally creates ‘optimistic’ and ‘pessimistic’ predictive scenarios in addition to the ERIN Protect’s baseline forecast.

ERIN Protect is an AI based monitoring and alerting system, analysing model prediction based on real-time internal and external data feeds, identifying anomalies in future performance.

Also Read: How to Leverage Social Media Advertising

ERIN Protect:

• Incorporates the latest advanced analytics related to predictive AI model health, scoring and monitoring
• Leverages control chart algorithms and statistical process monitoring to create what is essentially an ‘EKG’ for predictive model health
• Alerts business owners when future predictions shift out of limits, enabling timely refinement of business plans and strategies

“In these uncertain times, businesses can now create forecasts and plans that incorporate projected market volatility. By monitoring predictive models that are based on their external market drivers, organisations can proactively maintain plans and strategies to optimise future performance and deliver competitive advantage,” said Rich Wagner, CEO, Prevedere.

Rob Kugel, SVP and analyst, Ventana Research said, “AI technologies now exist that can continuously monitor predictive model quality and provide alerts when future market conditions are shifting. This ultimately enables FP&A groups to future-proof their business by proactively adjusting forecasts and budgets based on automated market monitoring.”

Also Read: The Impact of Predictive Analytics on Customer Experience