The Power of Prescriptive Analytics and IDA Trip Wire

Data can tell us amazing things, but it’s often challenging to make sense of the massive amounts of data that are generated. The details are important, but they can easily get overlooked. For example, your overall sales may show a 5% increase month to month. You’re beating your budget forecast, so you might not look any deeper. This might cause you to miss the fact that in California, your sales are actually down by 8%.

Imagine if you could analyze all of your dashboards across your entire organization and automatically find these anomalies without having to program or spend hours analyzing the data. In addition, what if you could get an alert when something falls outside acceptable parameters, isolating the root causes and providing recommendations?

Infusing Prescriptive Analytics and Trip Wire

IDA works autonomously to analyze your data, alerts you when conditions hit certain thresholds, and recommends the best course of action to take.

Trip wires can be simple or complex, combining multiple conditions. Maybe you want to trip an alert when sales to date have dropped by 5% or more consecutively for the past three months. You can configure these rules without having to program or code the platform, running the trip wires in the background at predetermined times. You might choose to run them overnight, first thing in the morning, or weekly — anytime you want.

When KPIs generate an alarm, prescriptive analytics kick in.

Prescriptive Analytics

Prescriptive analytics goes beyond just analyzing data. It uses data to determine the optimal course of action. Not only does it note the discrepancy, such as sales that are below acceptable levels, but the prescriptive analytics will automatically conduct a series of deep dives into the data to understand the variables that impact sales to uncover the root cause.

The platform can look at data at a very granular level, such as analyzing all the product lines, regions, and managers in the sales pipeline. In our example, it could do a deep dive into the dramatic drop in sales in California to look for the underlying cause. Maybe it uncovers that there was a price change at a specific point in time and sales dropped as a result, or one of your top salespeople was on vacation for a week and sales fell off.

IDA does deep dives through multiple layers to surface the root cause and pinpoint triggering events that impact sales. Prescriptive analytics then provides you with recommendations to address the situation.

One of the core benefits of IDA is the ability to run any number of what-if scenarios. If you are considering changing pricing, you can test different price points to see the potential impact on sales before making a decision. Prescriptive analytics can run these projections and provide you with the optimal course of action — enabling you to make better, data-driven decisions with an assessment of various outcomes based on changes you make in your operation.

Instead of sales falling off in California, maybe IDA uncovers that sales are up 10%. Wouldn’t you want to know what happened to replicate that success across the company? By setting up trip wires for positive performance, you can run the same prescriptive analytics to identify the root cause here as well and get recommendations for action.

Instead of sales falling off in California, maybe IDA uncovers that sales are up 10%. Wouldn’t you want to know what happened to replicate that success across the company? By setting up trip wires for positive performance, you can run the same prescriptive analytics to identify the root cause here as well and get recommendations for action.

Trip Wire and prescriptive analytics provide another layer of data analysis that goes beyond just crunching numbers. With IDA, you get real-time reporting on your KPIs, alerts when items hit preset thresholds, and recommendations for proactive solutions.

Find out how IDA can revolutionize the way your team works to achieves success