Predictive Analytics is being rapidly adopted by the retail industry as a more efficient and cost-effective way to make better product decisions.
What is Predictive Analytics?
At this point, we are all familiar with general analytic tools that report everything from sales history to website traffic. These tools organize the data of actions such as sales that have taken place in the past.
First Insight’s Predictive Analytics platform takes these data points, along with user-generated content - the Voice of your Customer - to provide forward-looking metrics yielding accurate demand and sales predictions for products that are still early in the development cycle.