Every Business is on a Path to Continuous Improvement—Machine Learning Puts this Process in Overdrive.
This is an exciting time to be running a business.
The technology that we have at hand can help us run our businesses better than ever before. That’s why we have the power to teach our machines to work on their own, in many regards.
An analogy: the butler of a house keeps things running smoothly with the combination of experience and intuition. That is what a machine learning algorithm does as well.
Numtra is particularly excited about applying this to customer defaults. We tell the algorithm that we created to look through a customer database and find customers most similar to the target customer that defaulted their payment in the past. The implications of this are marvelous. Now we can identify the best customers. We can cause a significant decrease in a business’ uncollectibles. With Numtra, you can have a better relationship with your customers (and with your accountant!)
Beyond this, machine learning applications aid a business’ daily operations. While collecting salient data is admittedly large in scope and difficult to do, it will help you understand quite a lot about your business. Numtra’s clients use our machine learning algorithms to reduce operational costs, increase revenue, optimize inventory management and much more.
Another powerful machine learning application is for brand sentiment. If you have an idea for a particular message you want to convey when engaging with customers, have the data to back it up. We pull from databases like SQL & AWS, and also Twitter, Facebook and RSS Feeds and run that data through machine learning algorithms to evaluate how a business’ brand sentiment is performing, how a new launch is performing, etc. Numtra does not provide corrective action, but we do use your data to advise you how to do it. Through periodic deliverables, your company can use Numtra’s analyses to fine-tune your brand. Better brand sentiment can and will send you more conversions.
Contact Numtra for an assessment and conversation on business data science.
Find out what more your data can do to drive your business.