My daughter Chloe’s soccer team, Palo Alto High Girls Varsity (@PalyGirlsSoccer), has been on a winning streak this season. And yes, you can predict what I will say next: I am a proud-standing-taller-these-days-soccer-Mom because her team is winning. But what if I could predict a win for her and her teammates at the upcoming CCS championship game by prescribing what actions they should take? (By the way, for you women soccer fans, you can follow Chloe’s career on Twitter @ChloeJapic and YouTube. You won’t be disappointed.)
Prediction tells you what will happen, but better yet, prescription tells you what to do to make something happen. The face of soccer would change in an instant if that was the case for sports, but alas it's not. The good news is that the face of business is changing because you can use prescriptive analytics to drive future revenue growth and avert risk.
In my new role as CMO at Pramata, my goal is to spread the word far and wide about this hot customer digitization company. We do a lot of thinking about the power of being able to prescribe what to do to get the best outcomes for our customers. To be prescriptive you must create a constant cycle of actionable data, outcomes, and feedback to help refine and hone in on how to best achieve your desired goals. And, that’s exactly what Pramata does for our customers.
Pramata CEO, Praful Saklani, mused a few weeks back about the irony of predictive analytics and its role in perhaps the most unpredictable election outcome in U.S. history. What if party strategists had gone one step further into a truly prescriptive mode? What could they have predicted then? I guess we’ll never know.
Even though the political world didn’t use this approach, businesses can apply a more prescriptive model to optimize a number of processes and operations. The most broadly relevant—and arguably the most valuable—is optimizing and prescribing actions to grow revenue. In fact, a Pramata customer recently shared that the actionable insights he derived from Pramata was the difference between making his number and not making it.
Why settle for prediction when we can make hitting your goal so much more achievable with prescriptive analytics? Here’s hoping for a win at the upcoming CCS Championship for Chloe and the Paly team. And, here’s to prescribing a revenue win for Pramata customers.