Business intelligence blog

    Prescriptive Analytics - Business Intelligence Software for NetSuite

    Prescriptive and advanced analytics is when businesses use past data to predict future behavior. Prescriptive analytics allows you to have a laser-like focus and answer specific questions happening across your business.

    Advanced and prescriptive analytics tools can be used:

    • To increase company profits – determine and train your staff to sell the right products at the right price to the right people
    • For a behavioral analysis - to predict customer behavior and assess when you can next expect particular customers to buy your products. If an important customer has unexpectedly stopped purchasing from you, you can assess how long it has been since their last purchase. You can then create alerts for your sales team to focus their attention on particular customers so your team is proactively chasing sales.
    • Customer management - to identify and measure customers who are spending a large amount such as $200,000 per annum. You can then introduce filters for factors such as industry type or location to determine where to focus your attention in order to increase revenue or maximize margins

    Watch the video below to see how simple it is to use prescriptive analytics to anticipate opportunities and increase margins and sales through business intelligence software. prescriptive-analytics

    Written by Gary Warner

    Top 7 KPIs and metrics for mid-market executives

    Download eBook

    Leave a reply

    Your email address will not be published. Required fields are marked *

    Related posts

    Bring your profit and loss statement to life and...
    2 MIN



    Demand from branch managers through to board members for up-to-date accurate financial information has made...

    Phocas rates 50/50 in Capterra's top data...
    2 MIN

    Phocas received a perfect 50/50 score from customers in the newly released Data Analysis Shortlist Software Report...

    Why inventory management is the key to...
    3 MIN

    Inventory management is complicated, and people are always looking for new ways to make it simpler.

    Subscribe to our blog

    Sign up to get the latest news and insights from Phocas experts