In a nutshell:
- Partnering with an AI solution from an external provider can provide expertise and specialization that internal teams may lack.
- AI solutions offer unparalleled infrastructure, resources, and partnerships with top technology providers.
- Using an AI solution can lead to cost efficiency and better ROI by accurately forecasting critical business outcomes.
- AI platforms provide a fresh perspective and valuable guidance based on experience in different market landscapes.
- AI predictive analytics solutions provide accurate, trustworthy results by automating data preparation tasks and ensuring data security.
"Data-driven decision-making" — you've heard it, said it, and aimed for it — and, eventually, even achieved it.
But here's the catch: While your internal data analytics team is an invaluable asset, their time, attention, and bandwidth are limited — and countless departments are vying for their expertise. That’s where a predictive analytics solution steps in — bringing a sophisticated blend of state-of-the-art technology, analytic prowess, cross-industry knowledge, and daunting levels of specialization that are hard to match in-house.
In this article, we'll explore how selecting a proven AI solution like Pecan can supercharge your data analytics. Think surgical insights tailored to your business needs with real-time dashboards and cost-effective strategies, all wrapped up with a fresh perspective that’s fully and solely dedicated to you.
If you're considering boosting your data analytics in this new year, you're in the perfect spot. Let's dive into how an AI predictive analytics solution can be the strategic edge your team needs to move the needle in 2024.
Key reasons to team up with an AI solution
Before we go any further, let’s make one thing clear: Working with a predictive analytics solution doesn’t have to be an all-or-nothing approach. There are benefits to both and practical instances for each, but for the sake of this article, let's explore the key reasons why partnering with a tested AI platform benefits your team and analytics strategy and can even amplify your in-house team.
The cutting edge of expertise and specialization
Everyone has ambitions, but not everyone has the time to use AI. IT’s focus is pulled this way and that — infrastructure and data management, cybersecurity, software implementation, regulatory compliance, and so on. Analytics is just a small piece of their remit.
When you want to focus on finding the knowledge of the future within your data, it's time for a dedicated AI solution. At Pecan, we're not just dabbling in data — we live and breathe it. Our team constantly pushes the boundaries with our predictive analytics platform and AI innovations.
AI solutions have whole teams dedicated to meeting customers' business needs. And the best part? We bring insights and expertise gleaned from working across a variety of industries to help you hone your business. Internal teams only have experience working in one business domain. But because we’ve seen challenges in different scenarios and teams, we have the experience to match your ambitions. That's the kind of specialization we're talking about.
“Pecan can see around the corner to those campaigns that may be outperforming longer term, without having all the actual revenue signals there early on.”
— Mike Eisele, vice president of business development, KSG Mobile, Inc.
Unparalleled infrastructure and resources
In the world of data analytics, the strength and synergy of your data infrastructure can make all the difference. That's why it’s so advantageous to have a predictive analytics partner like Pecan, who brings a powerhouse of resources and partnerships to the table.
With Pecan, you're tapping into top technology providers (and their resources). We use Databricks’ state-of-the-art data platform, trusted by over 9,000 companies, to ensure your data is clean and of the highest quality.
Then there’s our partnership with Microsoft. Pecan leverages Microsoft Azure's cutting-edge components for infrastructure, automation, data storage, and even visualization with Power BI integration. These tools, backed by Microsoft’s relentless innovation in AI and access to their in-house experts, enable us to offer you advanced solutions.
As an APN Advanced Tier partner, Pecan also maximizes AWS' extensive data storage and computing resources. This global partnership powers up our AI services, providing scalability and reach that's hard to match in-house.
Lastly, keep in mind that our team works closely with experts within each of these partners, meaning wherever you host your data, we can help you get the most out of it.
By partnering with us, you gain access to infrastructure, integrations, and resources most internal teams can only dream of. This translates to faster, more reliable data integrations and outcomes, supercharging your analytics capabilities with the best technology and expertise available today.
Cost efficiency: more than just saving pennies
Now, let's talk money — specifically, how an AI solution like Pecan can be a financial game-changer.
Take it from Mike Eisele, Vice President of business development at game publisher KSG Mobile: “We’re a relatively small, lean team, so outsourcing LTV prediction was prudent and would help us accomplish what we needed to accomplish.” Thanks to the Pecan team, the user acquisition team at KSG Mobile can now consult their prediction-enriched dashboard to examine their campaigns’ projected results and take informed action quickly.
For example, the team might see a campaign that appears to be underperforming based on Day 1 to Day 7 pLTV predictions. But with Pecan’s trustworthy predictions, they can feel confident that by Day 30, that campaign will hit its targets. “We’re more comfortable both with seeing which campaigns are out and underperforming, but also validating that long-term LTV curve.”
The deeper insights and improved accuracy in predictions from a solution like Pecan directly translate to better ROI and cost savings in the long run. By accurately forecasting campaigns' lifetime value and performance, teams can allocate resources more efficiently, avoid overspending on underperforming initiatives, and double down on the ones that show real promise. This strategic campaign management approach saves money upfront and maximizes the returns on every marketing dollar spent.
Gaining a fresh perspective
Ever been curious about the strategies that lead successful companies to make the most of their data? This is precisely where using an AI platform and gaining its objective perspective becomes crucial. Our team at Pecan brings a deep understanding of predictive analytics from different market landscapes. This knowledge translates into superior tools and practical guidance for your projects.
Our team can also share lessons learned from assisting other companies in starting their predictive analytics journey. We provide our customers insights and strategies that take other teams years to discover.
Learning from the experience of others and applying those lessons to avoid common mistakes will fast-track your success. From setting up initial data frameworks to applying complex analytical models, this guidance is invaluable, especially for companies new to using predictive analytics.
Speeding up results
Let's face it: Internal data teams are swamped. They're juggling projects, grappling with queues, and often stuck in the time-consuming loop of manual data preparation.
The 2023 Anaconda State of Data Science Report sheds more light on this, highlighting that data prep was the most time-consuming task in the analytics process. Many internal teams find themselves dedicating a significant chunk of their time to accessing data and cleaning and blending it to prepare the data for modeling or analysis.
In the age of AI and machine learning (ML), organizations need high-quality data to get reliable results, but the time it takes to get there, and that process typically slows down internal data teams and stymies the business users relying on those insights.
This is where AI predictive analytics solutions shine. They're equipped to handle these tasks efficiently, speeding up the process from data input to actionable insights. By automating these tasks, your team can focus on strategic initiatives rather than getting bogged down in the nitty-gritty of data prep.
Securing your data like Fort Knox
Security is a necessity across digital platforms. You know this. IT knows this. And it’s not going to change anytime soon. Predictive analytics solution developers also deeply understand this. Their reputation hinges on their ability to safeguard your data against ever-evolving cyber threats. With a focus on robust security measures, our team ensures your data isn't just processed efficiently but also protected rigorously.
From compliance with the latest standards to proactive vulnerability management, AI solution developers like Pecan provide a level of security that can be hard to achieve in-house. They stay updated with the latest security protocols, like the National Institute of Standards and Technology’s National Vulnerability Database, ensuring your data is safe.
Collaborating with Pecan: A bulletproof data strategy for your team
Think of Pecan not as a replacement for your internal data team but as a force multiplier. We empower your team with advanced tools and technologies that streamline processes and uncover deeper insights. This means your team can spend more time on what they do best: making decisions and developing strategies based on actionable predictive intelligence from your data. It’s about giving your team the superpowers they need to make a bigger impact — faster and more efficiently.
Now, the ball is in your court. Are you ready to take your data to the next level with impactful AI?
Chart your analytics journey with our comprehensive guide: “How to Choose the Right Predictive Analytics Strategy.”
And why stop at just a guide? Experience the Pecan platform firsthand with a personalized demo and see how our solutions can align with your business needs, complement your data team's efforts, and drive data-driven decisions that propel your business forward.
